World Machine Tool Demand Forecast for 2014 will reach US$121 billion

Abstract: According to the latest research by Freedonia Group, an industrial market research company, on the world's machine tool industry, the demand for machine tool products such as metal cutting machine tools, metal forming machine tools, and machine tool accessories in the world will maintain a strong growth rate of 9.4% per year by 2014. The global demand will reach US$121 billion.

According to the latest research by the Freedonia Group, an industrial market research company, on the world's machine tool industry, the demand for machine tool products such as metal cutting machine tools, metal forming machine tools and machine tool accessories in the world will maintain a strong growth rate of 9.4% per year. By 2014, the global Demand will reach US$121 billion.

Due to the recovery of the end markets in developed countries, the global market size of metal-cutting machine tools will maintain an annual growth rate of 8.6%, and will increase to 61 billion US dollars by 2014. In 2014, metal cutting machine tools will still dominate the world's machine tool market. Global metal forming machine tools will maintain an annual growth rate of 8.3%, and its market size will reach US$23 billion in 2014. The global machine tool attachment market will maintain an annual growth rate of 11.6% and will increase to US$37 billion by 2014, and will become the fastest growing market segment.

In terms of demand levels, countries in the world are unbalanced in development. The best demand outlook is for developing countries, especially China and India. The machine tool market in North America will see considerable growth, while the growth rate in Japan and Western Europe will still fall behind the global average.

From the demand industry, by 2014, the industrial machinery and equipment market will continue to be the largest demand market for machine tools in the world. In addition, the demand of the transportation sector will benefit from the gradual recovery of the auto industry from the low point in 2009 and will grow strongly. In addition, the production of commercial aircraft also promotes the market demand for machine tools. The growth of the electronic equipment market will also increase the demand for machine tool products.