Global demand for Machine Tools to increase 6.9% annually to 2014

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May 26, 2011 - PRLog -- According to the report “World Machine Tools: Forecasts for 2014 & 2019 in 19 countries” available at world demand for machine tool products encompassing metal cutting machine tools, metal forming machine tools and machine tool accessories is projected to increase a strong 6.9 percent per year through 2014 to $108 billion. However, gains will be rising from a depressed 2009, when a large part of the global economy underwent recession. The best prospects will continue to be found in the developing regions, especially in China and India. Growth in North America will post respectable gains, but only because 2009 was such a bad year for the dominant US market. Japan and Western Europe will continue to see gains that considerably lag the global average.

Although the industrial machinery and equipment market will continue to account for the largest share of demand, electronic equipment markets hold the best prospects for machine tool demand through 2014. Gains in this sector will benefit from increasing per capita incomes in developing countries that will allow people to purchase electronic products. In developed countries, a significant number of electronic products are now almost considered to be basic necessities.

The report “World Machine Tools: Forecasts for 2014 & 2019 in 19 countries” is available from Report Buyer at:

Reportbuyer Product Code: FED00555

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Source:Joe Walsh
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Tags:Machine, Tools
Industry:Machine, Tools
Location:London City - London, Greater - England
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