China Business Intelligence Network News: Machine tools refer to machines used for the processing of solid material shapes, mainly including metal cutting machine tools, metal forming machine tools and woodworking machine tools. Machine tools represent the degree of national industrial development, quality and performance determine a country's manufacturing strength and development level, is the comprehensive embodiment of the country's basic manufacturing capacity, related to the national industry, industry and national defense security.
First, the machine tool industry overview
1. Machine tool definition
Machine tools, also known as industrial machine tools, are the cornerstone of national development, and quality and performance are related to the safety of national industrial development. Machine tools represent the degree of national industrial development, quality and performance determine a country's manufacturing strength and development level, is the comprehensive embodiment of the country's basic manufacturing capacity, related to the national industry, industry and national defense security.
2. Classification of machine tools
Data source: China Commercial Industry Research Institute
3. The application field of the machine tool
As an "industrial machine tool", machine tools have a wide range of applications. There is a huge demand for machine tools, including general equipment, consumer electronics, auto and motorcycle parts, molds, construction machinery, military industry, energy, medical equipment, aerospace, 5G communication and other industries.
4. The development history of China's machine tool industry
Second, the development status of foreign machine tool industry
1. The market size of the global machine tool industry
Since 2000, the output value of the global metalworking machine tool industry has generally shown an upward trend, and in 2019 and 2020, the global output value has declined due to the impact of global public health events and trade environmental tensions. In 2020, the output value of the global metalworking machine tool industry will be 465.450 billion yuan, a decrease of about 20% compared with 2019. From 2021 to 2022, countries around the world will gradually resume production and operation, the adverse impact of global public health events on the economy will gradually be eliminated, and the output value of the global machine tool market will resume growth, reaching 596 billion yuan in 2022, an increase of about 35% over 2020, and the global machine tool output will only increase slightly in 2023, reaching 598 billion yuan.
Data source: Compiled by China Commercial Industry Research Institute, converted into RMB based on the central parity of the euro against the yuan at the end of 2022
2. The distribution of the global machine tool industry
The global metalworking machine tool industry is mainly concentrated in countries such as China, Germany, Japan, Italy and the United States. Since 2011, China has maintained its position as the world's largest producer and consumer of machine tools. The global distribution in 2022 is as follows:
Third, the development environment of China's machine tool industry
1. Policy guidance to promote the development of the industry
The state has intensively introduced a series of industrial policies to support the development of the machine tool industry, CNC machine tools have been written into the 12th Five-Year Plan of 12 provinces and cities, and the "Made in China 2025" strategic program clearly states: "In 2025, China's key process numerical control rate will increase from the current 33% to 64%"; The Action Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods proposes that "by 2027, the penetration rate of digital R&D and design tools and the numerical control rate of key processes in industrial enterprises above designated size will exceed 90% and 75% respectively". Strong policy support has encouraged and fostered the further development of enterprises in the field of CNC machine tool manufacturing, and strived to promote the mainland machine tool industry to reach the international level of the same industry, providing a good policy environment for the business development of the industry.
2. Replacement demand drives the industry
From the perspective of the update cycle, the machine tool equipment is affected by factors such as the frequency of use, the level of maintenance and the use environment, and its general life span is about 5-10 years. According to the calculation of the 10-year replacement cycle, the output of metal cutting machine tools in the mainland will be 70%, 72% and 84% of the output in 2011-2014 in 2011-2014, and the output of metal cutting machine tools in the mainland will be 70%, 72% and 84% respectively in 2011-2013.
Fourth, the development status of China's machine tool industry
1. The market size of China's machine tool industry
From 2012 to 2019, the global manufacturing industry shifted, the low-end manufacturing industry shifted to Southeast Asia, South America and other regions, and the high-end manufacturing industry returned to Europe and the United States and other industrial countries, during this period, the output of metal cutting machine tools in the mainland decreased year by year, from 880,000 units in 2012 to 420,000 units in 2019; From 2020 to 2021, the industry recovered, and the output of machine tools increased from 440,000 units in 2020 to 600,000 units in 2021, a year-on-year increase of 33.33%; In 2022, the macroeconomic growth slowed down, and the output of machine tools fell to 570,000 units, and in 2023, the output will reach 610,000 units, a year-on-year increase of 7.02%.
2. The competitive landscape of China's machine tool industry
The market competition in the mainland machine tool industry is fierce, and the industry concentration is low. According to the data of China Machine Tool Industry Association, in 2020, there will be 5,720 large-scale enterprises with annual operating income of more than 20 million yuan in the mainland machine tool industry, of which 833 are metal cutting machine tool enterprises, accounting for 14.56%. The overall competition pattern of the domestic machine tool industry can be divided into three camps: the first camp is foreign-funded enterprises, which occupy most of the market share of high-end CNC machine tools; The second camp is large state-owned enterprises and private enterprises with a certain scale and independent research and development technical strength; The third camp is many low-tech and small-scale private enterprises.
3. Analysis of the upstream, midstream and downstream of China's machine tool industry
The upstream of the machine tool industry mainly supplies: castings, CNC systems, precision parts, functional components, sheet metal and other parts; The downstream is mainly used in the automotive industry, aerospace, general equipment, mold industry, consumer electronics, construction machinery, military industry, rail transit and other industries.
From the perspective of the upstream parts supply market, castings are closely related to the accuracy of machine tools. Since 2000, the mainland has maintained the status of the world's largest casting producer, and the overall industry has sufficient production capacity and low dependence on foreign countries. At present, the upstream CNC system of the industrial chain of the machine tool industry presents the characteristics of specialization and high concentration, and the global market is mainly monopolized by a few enterprises such as Japan's Fanuc, Mitsubishi and Germany's Siemens. At present, domestic high-end CNC machine tools mainly use imported CNC systems. In addition, domestic machine tool end customers also have preferences in the choice of CNC systems, and high-end machine tool end users are more inclined to Fanuc and other foreign brand CNC systems. At present, some of the precision parts and functional components of domestic high-end CNC machine tools in the upstream of the industrial chain are made of foreign brands such as Japan and Germany, mainly for screws, linear rails and bearings, etc., and some of them have been replaced by localization, mainly for spindles, tool magazines, etc. In addition, the externally purchased functional components are mainly standard products, and the machine tool may have a poor degree of matching, so the domestic large-scale machine tool manufacturers will choose to make some of the parts. From the perspective of the downstream equipment application market, machine tools, as "industrial machine tools", are machines for manufacturing machines, and are the basic equipment for the production of all industrial products, which are widely used in various industries in the manufacturing industry.
Fifth, the machine tool industry key enterprises analysis
In recent years, a number of private enterprises represented by Genesis, Haitian Precision and Qiao Feng Intelligence have seized the opportunity of transformation and upgrading, and are committed to creating domestic high-end CNC machine tool products, constantly breaking through the core technology of high-end CNC machine tools, and have been widely recognized by the market, and the comprehensive competitiveness has been greatly improved, and has gradually become the backbone of the mainland machine tool industry.
1. Guangdong Genesis Intelligent Equipment Group Co., Ltd
Listed in May 2010, Genesis takes high-end intelligent equipment business as its core business. CNC machine tool products have a complete range of products, including drilling and tapping machines, vertical machining centers, horizontal machining centers, gantry machining centers, CNC lathes, engraving and milling machines, glass engraving machines, high-gloss machines, laser cutting machines and other series of precision processing equipment, which are widely used in the field of 3C consumer electronics, 5G industry chain, machinery manufacturing, medical equipment, new energy vehicles, auto parts, construction machinery and other fields of core component processing.
Genesis will achieve operating income of 3.529 billion yuan in 2023, a year-on-year increase of -22.09%; The net profit attributable to the parent company was 195 million yuan, a year-on-year increase of -41.79%. Among them, CNC machine tools (sales) accounted for 97.1% of operating income.
2. Ningbo Haitian Precision Co., Ltd
Listed in November 2016, Ningbo Haitian Precision Co., Ltd. is a listed enterprise specializing in the manufacture of CNC machine tools, with Ningbo Dagang Manufacturing Base, Ningbo Yanshan Manufacturing Base, Dalian Haitian Precision Manufacturing Base, Ningbo High-end CNC Machine Tool Intelligent Production Base, is a national major technical equipment enterprise, a national high-tech enterprise, and a provincial high-tech R&D center. At present, the main products include various vertical machining centers, gantry machining centers, horizontal machining centers, CNC lathes and other product series.
In 2023, Haitian Precision achieved operating income of 3.323 billion yuan, a year-on-year increase of 4.59%, and net profit attributable to the parent company of 610 million yuan, a year-on-year increase of 17.02%. Among them, CNC gantry machining centers, CNC vertical machining centers, and CNC horizontal machining centers accounted for 51.21%, 23.82%, and 14.82% of operating income respectively, and achieved revenue of 1.702 billion yuan, 792 million yuan, and 493 million yuan respectively.
3. Shenyang Machine Tool Co., Ltd
Shenyang Machine Tool Co., Ltd. was established in 1993 and listed on the main board of the Shenzhen Stock Exchange in 1996. The main business of Shenyang Machine Tool includes product research and development, machine tool manufacturing, sales service, industry solutions, machine tool parts and accessories, etc.
In 2023, Shenyang Machine Tool will achieve an operating income of 1.501 billion yuan, a year-on-year increase of -10.18%, and a net profit attributable to the parent company of 35 million yuan, a year-on-year increase of 34.62%. Among them, CNC machine tools; ordinary lathes; Ordinary drilling and boring machines achieved revenue of 949.9 million yuan, 71 million yuan and 27 million yuan respectively, accounting for 63.26%, 4.73% and 1.8% of operating income.
4. Neway CNC Equipment (Suzhou) Co., Ltd
Neway CNC Equipment (Suzhou) Co., Ltd. was established in 1997 and listed on the Science and Technology Innovation Board in 2021. Neway CNC is a high-tech enterprise focusing on the research and development, production and sales of high-end CNC machine tools, covering an area of 200,000 square meters. The main products include more than 200 models of large-scale machining centers, vertical CNC machine tools, horizontal CNC machine tools and other series.
In 2023, Neway CNC will achieve operating income of 2.321 billion yuan, a year-on-year increase of 25.75%, and a net profit attributable to the parent company of 318 million yuan, a year-on-year increase of 21.37%. Among them, the general machine tool achieved revenue of 2.309 billion yuan, accounting for 99.48% of operating income.
5. Nantong Guosheng Intelligent Technology Group Co., Ltd
Nantong Guosheng Intelligent Technology Group Co., Ltd. was established in 1999 and listed on the Science and Technology Innovation Board in 2020, mainly including three series of products: equipment components, CNC machine tools, and intelligent automated production lines, which can provide integrated solutions for metal cutting in different application scenarios.
In 2023, Guosheng Zhike will achieve operating income of 1.104 billion yuan, a year-on-year increase of -5.1%, and a net profit attributable to the parent company of 143 million yuan, a year-on-year increase of -23.12%. Among them, the revenue of CNC machine tools was 912.1 million yuan, accounting for 82.61% of operating income.
Sixth, there are problems in the development of China's machine tool industry
1. The core components rely on international brands
The core components of CNC machine tools mainly include CNC systems, line guides, screw rods, etc. The quality of the core components is one of the important factors to ensure the technical level of machine tools, at present, the core components of high-end CNC machine tools in the mainland still need to rely on international brands, especially CNC systems, basically imported from Japan and Germany.
2. Insufficient talent pool for CNC machine tools
In recent years, the continuous development of the mainland machine tool industry, has changed from the traditional manufacturing industry to the modern manufacturing industry with high-tech attributes and talent-intensive, and the demand for multi-level and complex talents has increased significantly: on the one hand, it is necessary to have the ability of machining, CNC programming, process design and machine tool maintenance, and be familiar with the machine tool machining process and machine tool mechanical structure; On the other hand, with the intelligent development of CNC machine tools, it is necessary to have comprehensive capabilities of sensors, PLC, machine tool electrical control, CNC machine tool product development and technological innovation capabilities, as well as talents who can provide comprehensive solutions.
7. Market prospect forecast of China's machine tool industry
1. Support of national industrial policy
Machine tool as an industrial machine, is one of the most important tools of industrial production, the development of the machine tool industry directly affects the process of transformation and upgrading of the mainland's manufacturing industry, for the development of the mainland into a manufacturing power is of strategic significance. Over the years, the mainland has maintained greater support for the CNC machine tool industry, and continued to introduce relevant policies to guide the development of the industry: the "Ninth Five-Year Plan" (1996-2000), with the main goal of improving the performance and quality of CNC machine tools; The "Tenth Five-Year Plan" (2001-2005) puts the development of CNC machine tools, instrumentation and basic components in an important position; The "Eleventh Five-Year Plan" (2006-2010) to the "Thirteenth Five-Year Plan" (2016-2020) emphasize the development of high-end CNC machine tools and their supporting technologies; The "14th Five-Year Plan" (2021-2025) focuses on the innovation and development of the high-end CNC machine tool industry. In addition, the national "Made in China 2025", "National Innovation-Driven Development Strategy Outline", "14th Five-Year Plan" Intelligent Manufacturing Development Plan, "Machinery Industry Steady Growth Work Plan (2023-2024)" and other important policy documents will develop high-end CNC machine tools as an important goal, provinces and cities have also issued support policies to promote the development of the CNC machine tool industry during the "13th Five-Year Plan" and "14th Five-Year Plan" period, and the policy content has implemented the theme of "focusing on the development of high-end CNC machine tools". The strong policy support of the state and various provinces and cities provides a good policy environment for the development of the machine tool industry and promotes its rapid development.
2. The adjustment of industrial structure provides new opportunities for development
At present, the mainland is in the stage of adjustment and upgrading of the industrial structure, with the continuous upgrading and development of downstream industries, the requirements for machine tool processing accuracy and stability are getting higher and higher, the demand for high-end products is becoming increasingly prominent, the demand for updating and upgrading is larger, the future market share of high-end will further increase, advanced manufacturing will gradually replace the traditional manufacturing industry, as the market demand for high-performance CNC machine tools will continue to increase. With the upgrading and development of the industry, the market for high-end machine tools is broad in the future.
3. There is a large space for import substitution of high-end machine tools
Since 2011, Continental has been the world's largest producer and consumer of machine tools. However, due to the late start of the mainland machine tool industry, most of the mainland machine tool enterprises rely on "quantity" to win in the industry competition, the added value of products is low, and there is still a certain gap between the core technology and developed countries. In recent years, with the continuous improvement of the technical level of the mainland machine tool industry, a number of high-quality national machine tool enterprises have emerged, gradually began to master the core technology of machine tools, and constantly improve the independent supply capacity of high-end CNC machine tools, and gradually formed a trend of import substitution. Therefore, with the adjustment of the industrial structure, the increase in demand for high-end CNC machine tools, the future machine tool upgrading space is larger, with the continuous improvement of the comprehensive competitiveness of domestic CNC machine tools, the future of high-end CNC machine tools will have a large import substitution space.
For more information, please refer to the "China Machine Tool Industry Market Prospect and Investment Opportunities Research Report" released by the China Commercial Industry Research Institute, at the same time, the China Commercial Industry Research Institute also provides industrial big data, industrial intelligence, industry research reports, industry white papers, industry status certificates, feasibility study reports, industrial planning, industrial chain investment map, industrial investment guidelines, industrial chain investment investigation & promotion meeting, "15th Five-Year Plan" and other consulting services.