Assessment of China's Market for CNC Machine Tools
A GCiS Limited Publication Study Published June, 2014
This study provides an in-depth understanding of the market for CNC metal-cutting machine tools in Mainland China. The report covers the overall market as well as providing detailed analysis on six product categories: CNC machining centers, CNC lathes, CNC milling machines, CNC drills, CNC grinders and CNC boring machines. The scope of the market is defined as domestic (Mainland China) sales and imports, while export figures are also given. The domestic market for these products was worth around RMB 90.2 Bn in 2013, representing a 1.3% decline in total revenues compared with 2012.
The study finds that the market's recent decline is driven by contractions in major downstream industries, as well as a lag effect in sales as manufacturers across multiple industries struggle to reach optimal output capacity rates prior to looking to new machine tool purchases. However, as downstream growth rates stabilize the domestic market for CNC machine tools is expected to expand, with growth rates returning to positive numbers by late 2016.
Aside from the headline growth figures, the study finds that the market is gradually shifting towards higher quality machine tools with the ability to switch between multiple functions autonomously. This puts foreign suppliers in a strong position, as they generally possess stronger technology than their Chinese counterparts. Despite making up only 16% of the market by unit sales, these foreign suppliers currently account for almost half of total market revenues. However, this gap is expected to narrow somewhat over the next few years due to domestic companies' increasing investment in new technology.
This GCiS market study draws on an in-depth primary survey covering 67 companies, including suppliers, channel players and key customers, as well as a number of independent industry experts. Five-year projections provided in the study will be indispensible to anyone looking to map out the course of this quickly developing market. This report is essential reading for any professional needing accurate and detailed strategic information of this market.
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