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- Machine Tool Market
The Indian government vigorously promotes the development of the machine tool market. India is the third largest economy in Asia and has unlimited market demand potential.
The China-US trade war has impacted the global economy. Under this volatility, let's take a look at the 2018 machine tool market overview. The major consumer countries of global machine tools are China, the United States, Germany, Japan, Italy, South Korea, India, Mexico, Taiwan, and Russia.
The U.S.-China trade war has been on the rise for more than a year, and both sides have become more and more fierce. The economy has been affected by the recession and the global manufacturing supply chain has also accelerated. Although Taiwan has benefited from this wave of trade wars in the short term, it may still suffer a lot in the long run. Also, the influence of other Asian countries affects the layout of Taiwanese businessmen. In the face of complex situations, we must be prepared to respond.
Machine tools can be said to be the mother of various industries, and countries have different marketing strategies based on their production manpower and resources.
In March 2020, Japan's export and machine tool market decreased compared with the same period last year, and the market performance did not meet expectations.
In the first quarter of 2020, Taiwan's machinery industry was affected by the outbreak of scheduled epidemics, and machinery export orders fell.
Global automakers are out of material and shut down, this year's machine tool exports fear a decline of more than 10%.
According to the economic growth data currently released by the US Department of U.S. Bureau of Economic Analysis (BEA), in the third quarter of 2019, US private consumption reached a growth rate of 2.6%. Compared with private consumption, the growth rate of private investment is the lowest since President Trump ’s tenure, only 0.4%.
There are two very important strategies to help manufacturing equipment create added value, which is worthy of deep thinking by Taiwan machine tool companies.
Are U.S.-China Trade War and COVID-19 influence business opportunities in the United States? The United States is the second-largest consumer of machine tools in the world, the industrial market is still waiting, and global economic demand has not significantly recovered.
Taiwanese machine tool manufacturers are aggressively entering Europe, hoping to expand the machine tool market.
In response to the impact of the U.S.-China trade war, Taiwanese machine tool makers are actively entering the European and Southeast Asian markets.
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