In 2014, the growth rate of machine tool accessories will reach 16.1%

Some experts predict that the growth rate of demand for China's machine tool accessories market will reach 16.1% in 2014, faster than metal cutting machine tools and forming machine tools.

The major markets for machine tools in China are industrial machinery and equipment, transportation equipment, primary metal products and electrical and electronic equipment. Among them, as industrial machinery is widely used in various industrial fields, it becomes the largest market for machine tools. Due to the explosive development of the Chinese automobile industry, the manufacturing of transportation equipment has been the second largest market for machine tools in the past 10 years. Metal cutting machine tools are the largest product category, and their size is three times that of metal forming machines.

The machine tool industry consists of eight small industries such as metal cutting machine tools, metal forming machine tools, foundry machinery, woodworking machine tools, measuring tools, abrasive tools, machine tool accessories (including rolling function components), and machine tool electrical appliances (including numerical control systems). The basic equipment industry that provides workbenches in various fields of economy is a strategic industry that is urgently needed for the modernization of the defense and military industry and is an important symbol of the country’s comprehensive competitiveness. CNC machine tools belong to high-end manufacturing equipment and are an important field for the country to cultivate and develop strategic emerging industries. Advanced machine tool manufacturing is an important part of high-end equipment manufacturing, so the industry can obtain subsidies from the central and local governments for research and development. Selling high-end machine tools can also benefit from tariff policies, which will increase sales of local products.