Shrink in China's Machine Tool Accessories Market

Influenced by economic crisis, China's machine tool accessories market is shrinking. What's worse, competitive pressure from powerful machine tool enterprises in foreign countries pose a greater risk to China's machine tools accessories market. To live up to the goal for China's machine tools industry in the next three years, namely, increase market share of China-made machine tools domestic market to more than 70%, self-supply rate of numerical control machines made in China are supposed to be improved to beyond 40%.

Revitalizing China's machine tools manufacturing industry and pushing forward internationalization are essential trends. In recent years, China's machine tool accessories enterprises have been developing at a fast speed, and huge progress has been made in terms of technology. However, gap still exists. On the one hand, industry development is related to political environment. In the past, the government provided insufficient support for the machine tools industry. On the other hand, small amount of investment has been put in scientific research. 

Key accessories and parts are decisive in the comprehensive performance of host machine. Therefore, China's machine tools companies are suggested to accelerate pace to make technological innovation and upgrading, which is also one of the important tasks of China's manufacturing industry. With high-end machine tool manufacturing industry ushering in an important development period, as well as the encouragement and support of China's policies, the industry ought to strengthen difference-making competition advantages to hold the acquired market share. Companies that possess advantages in terms of costs, technologies, sales channel, and services are likely to be superior in an increasing fiercer market.