“The expansion of the global machine tool industry is forecast to reach 4.8% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 5.6%. Currently, metalworking machinery accounts for 48.3% of the global demand while the remaining market share is divided between hand tools (19.7%), welding machinery (6.4%), machine tools for working wood, cork, bone and hard plastics (5.4%), machine tools for working stone, ceramics and cold glass (2.9%) and other machine tools (17.5%).
China, Germany, Japan, South Korea and the United States represent the largest machine tool markets while the strongest annual growth is forecast to occur in Bangladesh (20.9%), United States (12.1%), Bolivia (10.7%), Vietnam (8.9%) and Ecuador (8.6%).”
