The domestic tool market is growing fast and is expected to hit a record high
Every manufacturing industry in the world, from general machinery, automotive and aerospace to energy, medical, rail and molding, they all need cutting tools. Looking at the current growth speed, the global cutting tool market is predicted to increase 3 to 5% over the next five years, making China the number 1 tool market in the world. On the Chinese market, domestic tools occupy a percentage of up to 65%. Over the years we have acquired 10 excellent key enterprises, among which ZCC-CT and four independent tool companies. Every one of these companies, in a magnificent display of hard work and performance, has transformed from a traditional to a modern tools industry over the years. A great feat, indeed!
Data has shown that, in 2010, the tool industry’s total production amounted to 29 billion RMB and its exports up to 7 billion RMB. That same year, the total sales of both imported and domestic tools reached the highest amount in the world at 33 billion RMB. The tool production in China also grew by 40%, of which the growth during the first three quarters exceeded 50%. Even though foreign tool productions have also seen decent growth and sales rates in 2010, no demand means no market. Since China has an excellent demand on the market, we hold the greatest advantage.