The new normal state of China's machine tool industry shows new features

Abstract In 2014, China's machine tool industry was under pressure, and the overall situation was still in the downside. Recently, China Machine Tool Industry Association based on the industry information statistics key contact network, customs import and export statistics and some industry enterprises responsible person questionnaire survey, the current line...
In 2014, China's machine tool industry was under pressure, and the overall situation was still in the downside. A few days ago, China Machine Tool Industry Association analyzed the current industry operation, characteristics and future trends based on the industry information statistics key contact network, customs import and export statistics and questionnaire surveys of some industry enterprises.

From January to October 2014, the revenue from the main business of the whole industry increased by 0.2% year-on-year, and the revenue from the main business of metal processing machine tools decreased by 1.8%. Among them, metal cutting machine tools fell 2.4% year-on-year, and metal forming machine tools increased by 1.2% year-on-year.

In recent years, the Chinese economy has gradually entered the "new normal", and the growth rate, economic structure and growth momentum have all changed significantly. Affected by this, the operation of China's machine tool industry has also undergone new changes, showing the following new features.

1. The total amount declines and the demand structure accelerates and upgrades.

In 2014, the cumulative growth of social fixed assets investment continued to decline, reaching a minimum of 15.9% in October (the manufacturing industry was only 13.5%). As the consumption of machine tools and tools is positively correlated with the amount of investment in social fixed assets, the total demand for machine tools in this market has also continued to decline. On the other hand, the low-end products in the total market demand have fallen sharply, and the mid-to-high-end products “do not fall back”, and the market demand structure has increased rapidly.

2, production and sales decline, business operations are generally difficult

The machine tool industry has entered the downtrend channel since the second half of 2011. In the environment of sluggish market demand, production and sales in the whole industry have continued to decline. At the same time, the increase in finished goods inventories and negative profit growth led to a sustained high level of loss in the industry. After nearly three years of low-level operation, the industry has generally experienced financial constraints and operational difficulties.

In the first half of 2014, the metal processing machine tool industry showed a decline in production and sales and a surge in inventories, and the corresponding total profit for the same period also dropped significantly. As enterprises adopt measures such as compressing low-end production capacity, digesting inventories, and selling production, the finished goods inventory gradually declined after June, and the total profit gradually recovered.

In 2012, 2013 and 2014, the average proportion of loss-making enterprises in the whole industry expanded year by year, with 31.2%, 39.2% and 41% respectively. In October 2014, the loss-making enterprises of metal processing machine tools accounted for 42.8%, the metal cutting machine tools were 48.4%, and the metal forming machine tools were 13%.

3, the market is rotating, the industry is running differently

Under the influence of the upgrading of market demand structure, market segmentation and market hotspots, the operation of machine tools and various industries, different product areas and ownership enterprises also showed a further differentiation trend. The downward trend of enterprises facing the traditional equipment manufacturing field (such as energy equipment, ships, engineering machinery, etc.) is obvious. Machine tool manufacturing enterprises that are facing emerging market demand and industries (such as electronic information product manufacturing, smart phone manufacturing, etc.) are showing stable operation and even declining.

4. Digest production capacity and increase export intensity

In order to cope with the unfavorable situation of declining demand and overcapacity in the domestic market, machine tool enterprises began to increase their export efforts. From January to October 2014, the export of machine tool products continued to grow steadily, with total exports reaching US$9.57 billion, a year-on-year increase of 23.7%.

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