The competitiveness of domestic machine tools is enhanced, and the overseas market is expanding smoothly

ACC-5595-208 Machine tool exports in the first half of 2023 were outstanding. According to China Customs data, from January to September 2023, the total import and export volume of machine tool goods was 23.99 billion US dollars, down 4.0% year-on-year. Among them, imports were US $8.37 billion, down 11.2% year on year; Exports reached 15.61 billion US dollars, up 0.3% year on year. From January to September 2023, the import and export of machine tools maintained the surplus trend since June 2019. The surplus was $7.24 billion, up 18.0 percent year on year. All nine commodity categories maintained trade surpluses.

The proportion of overseas business of China’s major machine tool enterprises is on the rise as a whole, of which Haitian Seiko, Newey Numerical Control, Yawei shares are outstanding, and overseas revenue in 2022 accounts for more than 10%, reaching 10.62%, ACC-5595-208 17.93% and 21.59% respectively. With the development of China’s machine tools to high-end, the competitiveness of the global market will gradually increase, and overseas business is expected to increase in the future.

(4) Optimistic about the recovery of demand driven by high-end manufacturing, it is expected that the demand for machine tools in 2025 will be 1.01 million units

ACC-5595-208

ACC-5595-208 Looking forward to the next 3-5 years, we are optimistic about the improvement of machine tool demand under the trend of manufacturing upgrading, and the renewal demand is expected to be more released in the case of downstream demand recovery, providing flexibility for machine tool demand. The demand for metal cutting machine tools is mainly divided into two kinds, the first is the renewal demand, the equipment replacement cycle of metal cutting machine tools is generally 10 years, we will be weighted by the previous 10 to 15 years of annual machine tool production, It is concluded that the replacement demand of metal cutting machine tools in 2023-2025 is 574,600, 646,600 and 674,800, respectively. The second is the new demand, the expansion of China’s manufacturing industry every year requires the purchase of new machine tool equipment, we ACC-5595-208 are expected to 2023-2025 China’s manufacturing investment average growth rate of 5%, then driven by the new demand of 13900 units, 116,700 units, 122,600 units. The above sum, 2023-2025 metal cutting machine tool demand is 713,600 units, 763,300 units, 797,300 units. We believe that the metal forming machine tool will recover steadily, based on the replacement demand logic, it is expected that the demand for metal forming machine tools in 2023-2025 will be 151,700 units, 233,900 units, 212,800 units.

Throughout the world, the CNC rate of Japanese machine tools is maintained at more than 80%, and the CNC rate of machine tools in the United States and Germany exceeds 70%. China’s machine tool number control rate still has a large room for improvement. With the policy tilt to high-end manufacturing, the proportion of CNC machine tools is expected to steadily increase, in 2022, China’s CNC machine tool rate is 45%, it is expected that under the policy support and manufacturing demand, assuming an annual increase of 3 percentage points, China’s CNC machine tool 2023-2025 demand for 363,900 units, 412,200 units, 454,500 units.