Frbiz Reports on Growth of China's Machine Tool Industry

BEIJING, July 20 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, reports on growth in the machine tool industry.

During the first half of this year the machine tool market has been hot, and the future continues to appear optimistic. The speed of recovery for manufacturing industries may be good for machine tool enterprises. Enterprisers have commented that currently demand exceeds supply. Indeed, during the financial crisis, some companies developed a large backlog of general machine tools and CNC machine tools. With these conditions, it is not hard to believe how, at the beginning of 2010, extensive movement and sales of machine tools has created a hot market.

Growth in the industry depends on several factors:

First, in terms of market structure, almost half of all machine tool products are allocated to the automotive industry. It can be said that when the automotive industry is thriving, the machine tool industry also thrives. In 2009, China's vehicle production equalled more than 10 million units, ranking No. 1 in the world for the first time.

Second, China has invested 4 trillion yuan in key projects, which will hugely benefit and support the machine tool market.

Third, there is a shift in investment demand. In view of the uncertain situation in China's real estate industry, it has not been ruled out that some of the industry's capital investment has been transferred to the manufacturing sector, which would make the investment sector dependant on purchasing equipment, including machine tools.

Fourth, the international market is rebounding. After the crisis, all countries in the world are active in attempting to rescue respective markets. Now with the downward trend in western countries continuing and the increased economic growth in developing countries, international market demand has also increased.

These positive factors intertwined should help to create unprecedented rapid development in China's machine tool industry.

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SOURCE Frbiz.com