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Himfr.com Predicts China to Become the World’s Largest Tool Market

2009-07-24 17:06 1819

BEIJING, July 24 /PRNewswire-Asia/ -- Himfr.com (http://www.himfr.com/ ), one of China’s leading B2B search platforms with more than 30 B2B industry websites to its name, predicts that China will become the world’s largest tool market.

Due to rapid development of the manufacturing sector, the cutting tool market in China has great potential, and is expected to exceed Germany, the United States, Japan. Tools for China’s industry restructuring and development is expected to expand as well.

Himfr’s analyst believes that, although the global economy is undergoing a period of change and volatility, but with the manufacturing shift to China, which is based on the context of globalization, the objective of optimizing the allocation of resources need not to be reversed. At present, the output value of China’s manufacturing industry is generally between Japan and the United States, but the level of output in kind has been much higher than Japan, the United States. China has for 5 years ranked the world’s No. 1 for consumption of machine tools.

In 2007, China’s machine tool (http://www.himfr.com/buy-_machine_tool/ ) has a capacity of 500 million units, far more than developed countries, with numerical control machine tools up to 60 million units. In developed countries, the use of high-performance tool in digital manufacturing technology has become the consensus of the potential. Every year, the annual consumption of machine tool is about 50 percent. In China, the cutting tool consumption only accounts for 20 percent of machine tool consumption, which shows that cheap and low-efficiency traditional tools still dominate in China’s cutting tool market, and functions of machine tools are far from giving full play to increase labor productivity potential. Developing the cutting tool market in China is to develop modern high-performance cutting tools, to replace low-cost, low efficiency traditional cutting tools.

The above analysis shows that Chinese enterprises are facing the greatest opportunity being in China, the world’s largest tool market. China is in need of modern and efficient tools, developments with China are slow and that it has to heavily reply on imports. In order for the market to develop, Chinese manufacturers need to development more modern and efficient tools to achieve structural adjustment and industrial upgrading, instead of staying in a low-level redundant development.

Since the new century, the Chinese tool industry has already begun restructuring and industrial upgrading process, but progress is too slow. With the economic situation in the face of new challenges, the majority of industries and enterprises have a sense of urgency, which accelerates the pace of adjustment. With the huge potential market in China, China’s tool market will shortly exceed that of Japan, the United States and Germany. To do so, not only the Chinese tool industry has to develop, China’s manufacturing industry will also need to employ more modern high-performance tools to enhance productivity and competitiveness, which will be a win-win situation.

About Himfr.com

Himfr.com is a promising e-commerce company and a leading vertical search engine company in China. Himfr.com provides a variety of high quality products such as personal security alarms (http://www.himfr.com/buy-personal_security_alarm/ ), taylormade golf clubs (http://www.himfr.com/buy- taylormade_golf_clubs/ ), authentic designer handbags (http://www.himfr.com/buy- authentic_ designer_handbags/ ) and so on.

For more information, please contact:

Himfr.com

Tel: +86-10-65569770

Email: my@himfr.com

Source: Himfr.com
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