Frbiz Reports on China's Cutting Tool Market Potential
21 October 2010
Frbiz, a Chinese e-commerce company and a leading vertical search engine company, has reported that the rapid development of manufacturing makes China’s cutting tool market potential impressive.
The report focuses on modern tool development; carbide cutting tools and also high speed steel cutters. It also focuses on developing the modern industry, improving quality and pursuing efficiency.
Frbiz indicates that the global economy will be changeable. At present, China’s manufacturing output value lies somewhere between Japan and America. China’s machine tool consumption has also been globally ranked in the top for five consecutive years.
In developed countries, adopting efficient tools for digital manufacturing technology potential has become a trend, with cutting tool consumption generally 50% above machine tool consumption. This report indicates however that in China, the low-end traditional cutting tool consumption is still mainstream. Machine tools are not being utilised, so they have a great potential to grow as a market and improve labor productivity.