The Chinese Machinery Market Presents Great Opportunities
US machinery exports have experienced healthy growth over the past four years rising
nearly US $3 billion in value since 2000 to reach more than US $ 7.2 billion in 2004.
One of the main drivers for increased demand for US machinery products is the
expansion of China's manufacturing capacity and increased competition among Chinese
manufacturers. The automotive industry accounts for over half of China's machine tool
industry and has been driving growth on this sector for the past four years.
In order to deal with the increased market opportunities and competition resulting from
entry into the WTO, China has placed great emphasis on upgrading its conventional
industries with more advanced high-tech machinery and equipment. China is also
moving rapidly to restructure the state-owned, exclusively invested and private
enterprises. These two initiatives, along with the start-up of numerous major national
projects, are stimulating rapid growth in the demand for machine tool and tooling
products in China. As a result, market opportunities exist for machine tool builders.
China is expected to continue to import advanced equipment and technology valued in
the tens of billions of US dollars.
With respect to specific areas of China total imported machine tools, metal-cutting
machine tools increased by 20.6%, with a total value of US $ 2.07 billion, and metal
forming machine tools increased by 40.26%, with a total value of US $ 1 billion. The
majority of import sales were for the following machines: grinders, lathes, spindles, tool
carriages, ball-screws, tool system manipulators, high-speed protectors, and precision
tools. China primarily depends on imported machine tools and integrated products that
are high speed, precise, intelligent, environmentally friendly, high quality, and efficient.
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