The Global Tool Market Continues To Grow

The global tool market is growing rapidly, and China and the United States are competing for competitiveness. The global general machinery, automotive, aerospace, energy, medical, rail transit, mold and machine tool industries all rely on tool equipment. From the perspective of future development trends, the global tool market is expected to grow by 3% to 5% annually in the next five years. At this growth rate, we will still remain the world's number one firm. From the perspective of domestic tool supply, domestically produced tools occupy the mainstream position, accounting for 65%. In recent years, we have also achieved excellent enterprises like Zhuzhuan. In addition to the original four major tool factories, about 10 backbone enterprises have entered the modern tool industry from traditional tools, and they have developed well year by year, entering a period of rapid growth. This is a very good performance and also greatly stimulates the development of the tool grinding machine industry.

Data shows that in 2010, the total production of domestically produced cutting tools in China was 29 billion yuan, and in addition to supplying the domestic market, the export of cutting tools was 7 billion yuan. In the same year, the total sales revenue of imported and domestically produced cutting tools in China reached 33 billion yuan, ranking first in the world. China's cutting tools increased by 40% in 2010, with growth exceeding 50% in the first three quarters. The sales of foreign cutting tools in China also grew very well in 2010, and there was no development without market demand. With market demand, this is our biggest advantage.

Among the 33 billion yuan sales, the 11 billion yuan imported cutting tools are all modern high-efficiency cutting tools. Among the 22 billion yuan domestic cutting tools, only about 2 billion yuan can be called modern high-efficiency cutting tools, accounting for 10% to 15%. However, foreign brand cutting tool sales account for 1/3 of China's cutting tool consumption. This indicates that while China has become the world's most promising cutting tool market, the high-end market is occupied by multinational enterprises, which is a big problem.

In 2011, the domestic tool market continued to maintain rapid growth and is expected to create a new historical peak. Statistical data shows that the domestic tool market achieved a growth rate of 25% to 30% in the first half of the year alone. Although the growth rate has slowed down since July, it can still achieve a growth rate of 15% throughout the year. By comparison, in recent years, the international tool market has maintained stable recovery, but the conservative estimate of annual growth rate is only around 3% to 5%. After experiencing high-speed growth last year, the domestic market will gradually maintain a stable annual growth rate of 10% to 15%. Therefore, the capacity growth rate of the domestic tool market will be more than three times faster than that of the international market.

China has become the world's most promising tool market, and many multinational tool groups have always made expanding their tool sales in China their first choice in the post crisis development strategy. The Asia Pacific headquarters, research and development centers, training centers, logistics centers, and other enterprises have settled in China, thus radiating to Asia with China as the center, serving customers more directly and conveniently, and better meeting the special needs of customers in the Asia Pacific region.

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