World Machine Tool Market to Grow 4.8% annually from 2014 to 2018, According to a New Study on ASDReports

Friday 3 October 2014, Amsterdam

Global demand for machine tools is forecast to expand 4.8% p.a. between 2014 and 2018. Bangladesh, China, Germany, Japan and the United States are considered the highest potential markets in the coming years.

According to recently published research now available on ASDReports, the expansion of the global machine tool industry is forecast to reach 4.8% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 5.6%. Currently, metalworking machinery accounts for 48.3% of the global demand while the remaining market share is divided between hand tools (19.7%), welding machinery (6.4%), machine tools for working wood, cork, bone and hard plastics (5.4%), machine tools for working stone, ceramics and cold glass (2.9%) and other machine tools (17.5%).

China, Germany, Japan, South Korea and the United States represent the largest machine tool markets while the strongest annual growth is forecast to occur in Bangladesh (20.9%), United States (12.1%), Bolivia (10.7%), Vietnam (8.9%) and Ecuador (8.6%).

Machine tool market size compared to market growth in different countries