European machine tool will increase its share of world machine tool production

According to the European Machine Tool Manufacturers Association (CECIMO), the strong growth of European machine tool production in 2011, the European machine tool will occupy an important share of the world's machine tool production.

· It is expected that the growth rate of European machine tool production will be faster than the world average · The future development trend depends heavily on the stability of public finances. · EMO Hanover 2011 confirms that Europe is the leader in advanced manufacturing solutions. European machine tool production in 2011 It is expected to increase by 20% from 2010 to reach 20 billion euros. The growth of machine tool output is mainly driven by exports, and it is expected that in 2011 European machine tool exports will increase by nearly a quarter to reach 15.7 billion euros. Michael Hauser, Chairman of CECIMO, summed it up: “The recovery of manufacturing in Europe also promoted the growth of European machine tool import and consumption. In 2011, the consumption of machine tools in Europe will increase by 2 billion euros to 11.3 billion euros.”

Compared to the world average, European machine tool output not only accounts for the largest share of the world's machine tool output, but this share will continue to expand. Frank Brinken, chairman of the CECIMO Economic Committee, predicts: "In 2012, the share of European machine tool production in the world will increase from 33.3% in 2010 to 34.6%."

There are many uncertainties in trial production in the coming quarters. The European machine tool industry is recovering from the crisis, but the industry is now facing another uncertain fluctuation and deteriorating market confidence. Frank Brinken stressed: "At present, the economic prospects of the world and Europe are not clear. In Europe, the supply chain of manufacturing is generally blocked. If these issues cannot be solved in time, it will seriously affect the development of the European machine tool industry, especially for the small and medium-sized enterprises. The impact will be more pronounced."