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2020 World Machine Tool Survey Shows Machine Tool Downturn

The 2020 World Machine Tool Survey details the machine tool production, imports, exports, and consumption of 62 countries. Highlighted are trends in key leading indicators. The top five imported and exported machine tool types with their percent change from the previous year for each country are also detailed.

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2020 World Machine Tool Survey by Gardner Intelligence

 

Global machine tool consumption was $66.8 billion, which was down 20.1% from 2019. Global production was $68.0 billion, which was down 19.9%.

Rankings of top machine tool consumers and producers generally remained unchanged in 2020 from 2019, although the U.S. did move up one spot in machine tool production, becoming the third largest machine tool producer in the world. The U.S. also increased its global share of machine tool consumption to 12.5%, which was its highest percent of global machine tool consumption since 2001. The U.S.’s share of global machine tool consumption increased for the fourth straight year. Read more