The machine tool accessories market is shrinking

Abstract The machine tool accessories market has experienced a general decline due to the impact of the economic crisis, and user demands have become more demanding. At the same time, the pressure from major foreign machine tool companies has intensified, leading to significant risks for domestic enterprises in this sector. To achieve the goals set out in China’s three-year revitalization plan for the machine tool industry, which aims to increase the domestic market share of Chinese machine tools to over 70% and the share of CNC machine tools to 40% or higher, it is essential to improve the matching rate of domestic CNC machines. This remains one of the biggest challenges in the development of machine tool mainframes. Revitalizing the machine tool manufacturing industry and promoting its international expansion are inevitable trends in the sector’s evolution. Achieving these targets, however, is no easy task. Key components and accessories play a crucial role in determining the performance and competitiveness of machine tools. Only by developing these critical parts and improving the self-sufficiency rate of key functional components can China establish a group of globally competitive large-scale CNC machine tool manufacturers. As a nation aiming to become a true manufacturing power, China still has a long way to go before it can be considered more than just a big country in this field. In recent years, the scale and technological advancement of China’s machine tool component manufacturers have grown rapidly. However, a significant gap still exists compared to their foreign counterparts. Several factors contribute to this situation. First, historical policies have influenced the industry’s development, with insufficient government support and a tendency among companies to prioritize quick profits over long-term growth, leading to an imbalance between mainframes and components. Second, investment in research and development has been limited, resulting in a weak foundational structure. For example, while some Chinese companies can produce certain key components, they often use them in ordinary machine tools rather than high-end CNC systems. These products may work on high-end equipment, but their accuracy, stability, and durability fall short compared to foreign alternatives. While foreign components can last up to three years without replacement, domestic ones may only last about 1.5 years. This reliability issue significantly affects the market share of Chinese components. The development of key components and accessories is fundamental to the progress of the mainframe industry. Only by strengthening these areas and increasing the self-sufficiency rate of core functions can China build a strong, competitive machine tool manufacturing sector. It is vital that the pace of technological innovation and upgrades accelerates, as this will become one of the most important tasks for China’s manufacturing industry. 2014 marks a pivotal year for China as it implements its industrial transformation and upgrading strategy, along with the development of strategic emerging industries. The high-end machine tool manufacturing sector is entering a crucial phase of growth. With national policies encouraging and supporting this development, machine tool companies must focus on building differentiated competitive advantages. This includes enhancing cost efficiency, technology, sales channels, and after-sales services, in order to maintain and expand their market shares. Only those firms that can offer unique value in these areas will be able to dominate in the increasingly competitive global market.

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