Aug 18, 2020
The main markets for machine tools in China are industrial machinery and equipment, transportation equipment, primary metal products, and electrical and electronic equipment. Among them, because industrial machinery is widely used in various industrial fields, it has become the largest market for machine tools. Due to the explosive development of China's automobile industry, transportation equipment manufacturing has been the second largest market for machine tools in the past 10 years. Metal cutting machine tools are the largest product category, three times the size of metal forming machine tools. 
Industry Insight Network data shows that the machine tool industry consists of eight small industries: metal cutting machine tools, metal forming machine tools, casting machinery, woodworking machine tools, measuring tools, abrasives, machine tool accessories (including rolling functional parts), and machine tool electrical appliances (including CNC systems). The composition is a basic equipment industry that provides working machines for various fields of the national economy, a strategic industry urgently needed in the modernization of the national defense industry, and an important symbol of the country's comprehensive competitiveness. CNC machine tools are high-end manufacturing equipment and are an important field for the country to cultivate and develop strategic emerging industries. Advanced machine tool manufacturing is an important part of high-end equipment manufacturing, so the industry can obtain subsidies from the central and local governments for research and development. Sales of high-end machine tools can also benefit from the tariff policy, thereby increasing the sales of local products.