NEWS

China's Machine Tool Forecasts Market

The machine tool market in China is expected to see steady growth over the next decade, driven by rising demand. Market volume is projected to reach 536K units by 2035, with a market value of $3.8 billion. Although the market performance is forecast to decelerate, it will maintain a positive trend in both volume and value, with an anticipated CAGR of +0.7% and +0.8% respectively from 2024 to 2035.In 2024, China's consumption of machine tools for working metal increased by 2% to 497K units, while production dropped modestly to 1.4M units. Imports decreased to 4.3K units, with Taiwan, Germany, and Japan being the main suppliers. Exports fell to 890K units, with the United States being the main destination. The market is expected to retain growth momentum, driven by increasing demand for machine tools in China's manufacturing sector.