Editor's Note: Driven by market demand and policies, the machine tool industry boomed in January 2011. In January, the reinvestment of US manufacturing industry was active, which boosted productivity and saw a sequential increase in machine tool orders and consumption. In January, South Korea’s new machine tool orders were 359.414 billion won, a sharp increase of 72.2% from January last year. However, the import and export sector has shrunk. Orders for Japanese machine tools have increased for 14 consecutive months, and orders exceeding 100 billion yen in January were the first time in 28 months since the financial crisis broke out in September 2008. The following is a detailed analysis of the market conditions of the US, Japan and South Korea machine tools:
US machine tool consumption increased by 188.3% in January
Recently, the American Manufacturing Technology Association (AMT) and the American Machine Tool Distributors Association (AMTDA) published the latest statistics on US machine tool consumption. In January 2011, the number of machine tool orders in the United States was 1,924, a decrease of 16.4% from 2,302 units in the previous month, but an increase of 125.03% from 855 units in January 2010. In January, US machine tool consumption was $371 million, a decrease of 16.3% from last year's $444 million, but a significant increase of 188.3% from January's $129 million. In 2010, the cumulative consumption of machine tools in the United States was $3.236 billion, an increase of 85.3% from $1.746 billion in the same period in 2009.
Although the order volume in January has decreased from December last year, it is certain that the reinvestment in the US manufacturing industry is active and promotes productivity. Due to factors such as extended lead times and higher commodity prices, most factories are likely to increase their investment before inflation and other factor prices rise.
South Korea's new machine tool orders increased in January
According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA), in January 2011, South Korea’s new machine tool orders were 359.414 billion won, up 16% from last month’s 309.827 billion won, compared with 208.727 billion won in January 2010. Significantly increased by 72.2%. In 2010, South Korea's cumulative new machine tool orders reached 349.151 billion won, an increase of 82.58% over the same period of 2009 of 191.317 billion won.
In January 2011, the output value of Korean machine tools was 241.759 billion won, a decrease of 30.2% from the previous month and an increase of 24.97% from the same period last year. In 2010, the total value of Korean machine tools was 284.354 billion won, down 16.4% year-on-year, which was 41.1% lower than the record high of 481.10 billion won in 2008. Since 2010, the changes in Korean machine tool production have been relatively stable, but still showed negative growth year-on-year.
In terms of import and export trade, in January 2011, South Korea imported machine tools worth US$137 million, down 23.41% from the previous month and up 37.49% from the same period last year. Exported machine tools were US$152 million, down 23.41% from the previous month and up 85.81% from the same period last year. In 2010, South Korea's cumulative import value of machine tools was 1.444 billion US dollars, an increase of 27.45% over the same period of 2009 of 1.133 billion US dollars; cumulative machine tools exported 1.678 billion US dollars, an increase of 38.45% over the same period of 2009, 1.12 billion US dollars.
Japanese machine tool orders exceeded 100 billion yen for the first time in 28 months in January
On February 9, 2011, the initial value of machine tool orders announced by the Japan Machine Tool Industry Association (JMTBA) showed that in January 2011, the order value of Japanese machine tools was 104.353 billion yen, an increase from the 98.452 billion yen in December 2010. 5.6%, an increase of 89.4% from January 2010. Orders for Japanese machine tools have increased for 14 consecutive months, and orders exceeding 100 billion yen in January were the first time in 28 months since the financial crisis broke out in September 2008. From the domestic and international demand, in January 2011, Japan's domestic machine tool orders amounted to 31.673 billion yen, a slight increase of 0.5% from the previous month and a year-on-year increase of 100.8%; overseas machine tool orders amounted to 72.68 billion yen, an increase of 8.1% from the previous month. The growth rate was 84.8%.
In 2011, the amount of machine tool orders in Japan is expected to reach 1.1 trillion yen, which will be the first to break through the trillion mark in three years. So far, the highest record in the history of Japanese machine tool orders in the history of the year was 1. 590 billion yen, which was hit by the global financial crisis in 2008. As a result, the order volume shrank to 411.8 billion yen in 2009. It is only about 1/4 of 2007.
US machine tool consumption increased by 188.3% in January
Recently, the American Manufacturing Technology Association (AMT) and the American Machine Tool Distributors Association (AMTDA) published the latest statistics on US machine tool consumption. In January 2011, the number of machine tool orders in the United States was 1,924, a decrease of 16.4% from 2,302 units in the previous month, but an increase of 125.03% from 855 units in January 2010. In January, US machine tool consumption was $371 million, a decrease of 16.3% from last year's $444 million, but a significant increase of 188.3% from January's $129 million. In 2010, the cumulative consumption of machine tools in the United States was $3.236 billion, an increase of 85.3% from $1.746 billion in the same period in 2009.
Although the order volume in January has decreased from December last year, it is certain that the reinvestment in the US manufacturing industry is active and promotes productivity. Due to factors such as extended lead times and higher commodity prices, most factories are likely to increase their investment before inflation and other factor prices rise.
South Korea's new machine tool orders increased in January
According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA), in January 2011, South Korea’s new machine tool orders were 359.414 billion won, up 16% from last month’s 309.827 billion won, compared with 208.727 billion won in January 2010. Significantly increased by 72.2%. In 2010, South Korea's cumulative new machine tool orders reached 349.151 billion won, an increase of 82.58% over the same period of 2009 of 191.317 billion won.
In January 2011, the output value of Korean machine tools was 241.759 billion won, a decrease of 30.2% from the previous month and an increase of 24.97% from the same period last year. In 2010, the total value of Korean machine tools was 284.354 billion won, down 16.4% year-on-year, which was 41.1% lower than the record high of 481.10 billion won in 2008. Since 2010, the changes in Korean machine tool production have been relatively stable, but still showed negative growth year-on-year.
In terms of import and export trade, in January 2011, South Korea imported machine tools worth US$137 million, down 23.41% from the previous month and up 37.49% from the same period last year. Exported machine tools were US$152 million, down 23.41% from the previous month and up 85.81% from the same period last year. In 2010, South Korea's cumulative import value of machine tools was 1.444 billion US dollars, an increase of 27.45% over the same period of 2009 of 1.133 billion US dollars; cumulative machine tools exported 1.678 billion US dollars, an increase of 38.45% over the same period of 2009, 1.12 billion US dollars.
Japanese machine tool orders exceeded 100 billion yen for the first time in 28 months in January
On February 9, 2011, the initial value of machine tool orders announced by the Japan Machine Tool Industry Association (JMTBA) showed that in January 2011, the order value of Japanese machine tools was 104.353 billion yen, an increase from the 98.452 billion yen in December 2010. 5.6%, an increase of 89.4% from January 2010. Orders for Japanese machine tools have increased for 14 consecutive months, and orders exceeding 100 billion yen in January were the first time in 28 months since the financial crisis broke out in September 2008. From the domestic and international demand, in January 2011, Japan's domestic machine tool orders amounted to 31.673 billion yen, a slight increase of 0.5% from the previous month and a year-on-year increase of 100.8%; overseas machine tool orders amounted to 72.68 billion yen, an increase of 8.1% from the previous month. The growth rate was 84.8%.
In 2011, the amount of machine tool orders in Japan is expected to reach 1.1 trillion yen, which will be the first to break through the trillion mark in three years. So far, the highest record in the history of Japanese machine tool orders in the history of the year was 1. 590 billion yen, which was hit by the global financial crisis in 2008. As a result, the order volume shrank to 411.8 billion yen in 2009. It is only about 1/4 of 2007.
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