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The 2020 World Machine Tool Survey Shows Machine Tool Downturn Continued
The 2020 World Machine Tool Survey details the machine tool production, imports, exports, and consumption of 62 countries. Also, highlighted are trends in key leading indicators, such as money supply, industrial production, and capacity utilization. And, the top five imported and exported machine tool types with their percent change from the previous year for each country are also detailed.
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In 2020, global machine tool consumption was $66.8 billion, which was down 20.1% from 2019. And, global production was $68.0 billion, which was down 19.9%. Both of these totals were the lowest since 2009. However, the 2009 low was reached after just one year of decline while it took two years to reach the current levels in 2020 from similar levels in 2018 and 2008.
Rankings of top machine tool consumers and producers generally remained unchanged in 2020 from 2019, although the U.S. did move up one spot in machine tool production, becoming the third largest machine tool producer in the world. The U.S. also increased its global share of machine tool consumption to 12.5%, which was its highest percent of global machine tool consumption since 2001. The U.S.’s share of global machine tool consumption increased for the fourth straight year.
The 2020 World Machine Tool Survey report is available for purchase at https://www.gardnerintelligence.com/report/world-machine-tool. In addition to the report, data tables of machine tool production, imports, exports, and consumption for all countries going to 1961 can also be purchased at the link.
