Analysis Of The Market Status, Development Trends, And Prospects Of China'S Quantity Cutting Tool Industry In 2021 (Figure)
時間：2020/12/23 關(guān)鍵詞：YongPu Precision 瀏覽量：16775
China Business Information Network: Cutting tools refer to tools or products used in the process of mechanical manufacturing for measurement and cutting or as auxiliary tools for measurement and cutting. It mainly includes measuring tools, cutting tools, and other tools. High-quality measurement and cutting functions are essential for the manufacturing process to improve production efficiency and reduce the possibility of systematic errors.
Market Size
The continuous growth of the macro-economy and the increasing demand in the manufacturing industry have stimulated the growth of the Chinese cutting tools market. The total sales of cutting tools bought and sold by center tenants, independent shops, and directly from manufacturers have increased from 33.8 billion yuan in 2015 to 51.2 billion yuan in 2019, with a CAGR of 12.7%. However, due to the issues of the economic cycle, the growth rate of this sales figure slowed down in 2019. It is expected that the total market size of the cutting tools industry can reach 517 billion yuan and 553 billion yuan in 2020-2021.
Data sources: Frost & Sullivan, CIB Industry Research Institute
With the growth in demand for machine tools and the increase in export demand driving, the total output of cutting tools increased from 188.3 million pieces in 2015 to 259.5 million pieces in 2019, with a CAGR of 10.0%. Short-term, the output of cutting tools will not suffer negative growth, affected by the economic cycle and the impact of the epidemic. The growth rate in 2020 will decline to 0.6%, reaching 261.1 million pieces. It is expected that the output of cutting tools will increase by 5.5% in 2021, reaching 275.6 million pieces.
Data sources: Frost & Sullivan, CIB Industry Research Institute
Zhejiang province was the largest producer of cutting tools in China in 2019, accounting for 36.4 percent of the total output. It was also the province with the most cutting tool manufacturers in China in 2019, accounting for 45.9 percent of the total number of manufacturers.
Data sources: Frost & Sullivan, CIB Industry Research Institute
Cutting Tool Industry Park
At present, most cutting tool manufacturers in China are small-scale enterprises with lower production efficiency, and are facing fierce competition. In order to enhance regional competitiveness and improve the overall standards of the cutting tool industry, the local government has been actively cooperating with major industry players and developers, and establishing cutting tool industry parks.
On the other hand, developers are also closely cooperating with the government in the process of construction and operation. The industry park operators meet with the local government regularly to keep the government informed of the latest developments in the industry park, the benefits it brings to the industry as a whole, and the challenges and threats faced by the industry park operators and other industry players.
Future Development Prospects
1. Beneficial policies for the manufacturing industry
In recent years, China has introduced a number of policies to promote the development of the manufacturing industry. As the foundation of industrial manufacturing, the machine tool industry has also driven the development of the cutting tool manufacturing industry.
In order to enhance the competitiveness of domestic products and reduce the dependence on core products from foreign manufacturers, more than 60 qualified and qualified intelligent manufacturing technology equipment will be developed by 2020, and more than 50% of the market share of this equipment will be dominated by domestic manufacturers. Therefore, it is expected that this policy will expand the demand for cutting tools, enabling domestic manufacturers to produce more intelligent manufacturing technology equipment.
2. The industry is in a mature market mechanism
The cutting tool industry operates under a mature market mechanism, which involves trading centers, as well as manufacturers, governments, industry associations, and traders. On the one hand, due to the support of the government for the cutting tool industry, more and more cutting tool manufacturers are joining, and trading centers that provide trading environments have been established; on the other hand, the good relationship between trading centers and other market participants makes the cutting tool industry, which is managed by industry associations, more dependent on the operation of trading centers.
Future Development Trends
1. The improvement of the concentration of the cutting tool manufacturing industry promotes the development of trading centers
In 2019, China had 3,015 cutting tool manufacturers. In the future, manufacturers that are able to provide the above industrial park construction will enhance their competitiveness in the global market. On the other hand, the increasing concentration of the cutting tool manufacturing industry is expected to promote the development of cutting tool trading centers.
2. Continuous construction of online markets
With the rapid development of e-commerce in China, online stores for cutting tools have become popular in recent years. The expansion of sales channels has provided more specific groups for the cutting tool industry, thus driving market growth. The prosperity of online markets and the manufacturing industry will drive the growth of trading center demand, as more products are traded in trading centers.
3. Centralized product display platforms will increase the likelihood of successful transactions
For downstream consumers, the purpose is to grasp the latest developments in the upstream industry and formulate strategic plans in advance for subsequent purchasing and product updates. For manufacturers, the purpose is to enhance the market acceptance of new products, enhance the exposure of advanced products, and accelerate their market penetration process. Therefore, centralized display platforms can provide convenient communication and display platforms for both parties, and increase the likelihood of successful transactions.
For more information, please refer to the "China Cutting Tool Industry Market Outlook and Investment Opportunities Research Report" published by the China Industry Research Institute. At the same time, the China Industry Research Institute also provides industry big data, industry intelligence, industry research reports, industry planning, park planning, 14th Five-Year Plan, industry investment and financing and other services.
(China Industry Research Institute)
