Global Machine Tools Consumption to Surpass US$68.8 Billion by 2010

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Jul 29,2008

It is believed that the global machine tools market would keep a 7.2% Compound Annual Growth Rate (CAGR) from 2001 to 2010, reaching US$68.8 billion in value by 2010, according to "Machine Tools: A Global Strategic Business Report", a market report released by Global Industry Analysts. Metal cutting had the largest share among the global machine tools market in 2007, accounting for 58.53%. This segment was forecasted to achieve 7.60% CAGR during 2001~2010. According to the report, the automotive manufacturing industry was the largest application industry of machine tools, accounting for 42.78% in 2007. The applications with the fastest machine tools consumption included electronic machinery and equipment machining industry.

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