Freedonia In The News

Article Title: World Demand for Machine Tools to Reach $121 Billion(USD) in 2014
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Publication: Canadian Industrial Equipment News, 5/31/2011
Freedonia Study: World Machine Tools (2739)

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World demand for machine tool products -- encompassing metal cutting machine tools, metal forming machine tools and machine tool accessories -- is projected to increase a strong 9.4 percent per year through 2014 to $121 billion (USD). The best prospects will be found in the developing world, especially in China and India. Growth in North America will post respectable gains, but only because 2009 was such a bad year for the dominant US market. Japan and Western Europe will continue to see gains that considerably lag the global average. These and other trends are presented in World Machine Tools, a new study from The Freedonia Group, Inc., an industry market research firm.
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