Global development trends of cutting CNC tools

    According to research data, the global tool market will grow from US$33.1 billion in 2016 to US$38 billion in 2021, with a compound growth rate of approximately 2.80%. The global market size is expected to reach US$39 billion in 2022, and total consumption will show a steady growth trend.

    From the perspective of consumption region, the five major tool consuming countries of China, the United States, Germany, South Korea and Japan account for about 70% of global consumption. Since 2010, the growth rate of the Asian tool market represented by China has ranked first in the global tool scale growth. , which is 2.5 times the global growth rate.