By Bearing Manufacturer>Bearing News>Global Machine Tools Consumption to Surpass US$68.8 Billion by 2010
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It is believed that the global machine tools market would keep a 7.2% Compound Annual Growth Rate (CAGR) from 2001 to 2010, reaching US$68.8 billion in value by 2010, according to "Machine Tools: A Global Strategic Business Report", a market report released by Global Industry Analysts.
Metal cutting had the largest share among the global machine tools market in 2007, accounting for 58.53%. This segment was forecasted to achieve
7.60% CAGR during 2001~2010.
According to the report, the automotive manufacturing industry was the largest application industry of machine tools, accounting for 42.78%
in 2007. The applications with the fastest machine tools consumption included electronic machinery and equipment machining industry.