machine tool refers to the machine used to manufacture machines, also known as "working mother machine" or "power machine". The variety, quality and processing efficiency of machine tools directly affect the production technology level of other mechanical products. Therefore, the modernization level and scale of the machine tool industry are one of the important signs of the development of industry in a country. In June 2022, the manufacturing PMI index was 50.2%, an increase of 0.6pct month-on-month, returning to above the boom and bust line. Faced with the pressure of stabilizing growth and maintaining employment, my country's monetary and fiscal policies are expected to be strengthened, and the manufacturing industry is expected to rebound, which will drive the demand for general equipment in the machine tool industry to increase. my country's "industrial mother machine" has ushered in transformation and upgrading.
1. The prosperity is improving, the structure is upgraded
According to the German Machine Tool Manufacturers Association, from 2002 to 2021, the output value of the global machine tool industry increased from 34.5 billion euros to 70.9 billion euros, with a compound growth rate of 3.86%. Thanks to the recovery of the global economy after the epidemic, the global machine tool output value increased by 19.8% year-on-year in 2021.
2000-2011, my country's metal cutting machine tool production increased from 177,000 units to 860,000 units, with a compound growth rate of 15.5%. my country's metal cutting machine tool output reached its historical peak in 2011 and remained at a high level from 2012 to 2014. With the rapid increase in the number of machine tools, the machine tool industry entered a low period from 2015 to 2019. In 2019, the output of metal cutting machine tools was 416,000 units, a 52% decrease from 860,000 units at the highest in 2011.
Since 2020, the output of metal cutting machine tools has shown a bottom recovery trend, thanks to the fact that overseas demand has driven exports after the epidemic and promoted the rapid recovery of manufacturing industry, and on the other hand, it has resonated with the machine tool renewal cycle. In 2021, my country's metal cutting machine tools output reached 602,000 units, a year-on-year increase of 35%.
Judging from the completion amount of fixed asset investment in my country's manufacturing industry, although the epidemic has recurred, the overall manufacturing industry has shown a recovery trend, with the cumulative year-on-year growth rate of investment completion in the first half of 2022 reaching 10.4%. In June 2022, the manufacturing PMI index was 50.2%, an increase of 0.6pct month-on-month, returning to above the boom and bust line.
Faced with the pressure of stabilizing growth and maintaining employment, my country's monetary and fiscal policies are expected to make efforts, and the manufacturing industry is expected to rebound, which will drive the demand for general equipment, including the machine tool industry.
On the other hand, in order to break the overseas monopoly and export restrictions on high-end machine tools and core components, my country has adopted a series of policies to accelerate the process of localization. From the perspective of import and export markets, the national machine tool import/export amount reached US$138/19.3 billion respectively by 2021; from the perspective of trade difference, the domestic machine tool market continued to show a trade surplus from 2019 to 2021, and the trade surplus increased year by year. From the supply side of
, the total output value of the global machine tool industry in 2021 was 70.9 billion euros, of which my country's output value was 21.8 billion euros, accounting for 31% of the share, ranking first; followed by Germany and Japan's total output value in the global market reached 90.0 billion euros and 8.9 billion euros respectively, with a market share of 13%. The top five countries account for 74% of the world's share, reflecting the high concentration of the global machine tool manufacturing market.
As the world's largest machine tool producer and consumer, my country has long had a congenital gap with foreign machine tool power in terms of machine tool industrial environment. The weakness of basic parts, processes and materials has further hindered the progress of the domestic production process of my country's high-end machine tools. In terms of product positioning and service, compared with Europe and Japan focusing on the mid-to-high-end route, domestic machine tool products are mostly concentrated in the mid-to-low-end, with products converging, and competition in the red ocean.
With the optimization and upgrading of my country's industrial structure, my country is experiencing an important stage of developing from high-speed development to high-quality development of . The requirements for refined indicators such as machining accuracy, efficiency, and stability of machine tools as industrial master machines are gradually increasing, and the demand for mid-to-high-end products is increasing.
2. Domestic substitution, the head is king
From the perspective of downstream application fields of machine tools, industrial upgrading in key industries such as automobiles, aerospace, and engineering machinery has accelerated, and there is a strong demand for high-end machine tools. However, due to the restrictions of the " Wassenna Agreement ", Western countries have strictly controlled the export of high-end CNC machine tools represented by five-axis linkage CNC machine tools, and the Sino-US trade friction in 2019 further increased the import restrictions on my country's high-end machine tools.
machine tool industry has risen to the core of the national development strategy. In recent years, my country has successively introduced a number of relevant policies to accelerate the development of high-end CNC machine tool , and the domestic production process of high-end machine tools is expected to accelerate. In the process of transformation and upgrading of my country's machine tool market, the market potential of domestic high-end machine tools is huge and has entered an important period of opportunity.
Kode CNC (688305.SH) focuses on high-end five-axis linkage CNC machine tools, and masters the core technologies of high-end CNC systems and key functional components, and has independent intellectual property rights. The company's general five-axis CNC machine tool technology received 04 special support from 2014 to 2019, and the dedicated five-axis CNC machine tool technology received 04 special support from 2011, 2013 and 2015.
Company can realize the research and development and manufacturing of various types of products in the manufacturing of high-end equipment such as aerospace. It has independent and controllable core technology, strong import substitution capabilities, rich types and specifications, and relatively comprehensive layout. It has distinctive characteristics in the field of domestic high-end machine tool manufacturing, forming a successful case of processing key parts of high-end equipment represented by the "jewel in the crown of industry" aircraft engine.
From 2017 to 2021, Kede CNC's revenue increased from 75 million yuan to 254 million yuan, with a compound growth rate of 35.8%. In the first half of this year, the company expects to make a profit of 26.6 million yuan, with a net profit increasing by 22.41% year-on-year.
Jinsheng Intelligent acquired Genesis (300083.SZ) in 2015, and divested its precision structural parts business in 2018. Genesis machine tool business has become the company's core business. The company's CNC machine tool business has a complete research, production, supply, sales and service system, and its main products are for high-end CNC machine tool field, new energy field, general field, and core component processing in the 3C supply chain. The company's CNC machine tools are divided into two categories: general-purpose and 3C. In terms of general business, as the core product, the vertical machining center (V series) shipped more than 10,000 units in 2021, ranking first in the domestic industry.
Guosheng Zhike (688558.SH) was established in 1999. It was originally customized for domestic and foreign CNC machine tool manufacturers and high-end machinery manufacturers such as Husky and Demagisen Precision Machinery in Canada, and carried out the research and development and production of precision sheet weldments and castings and other equipment components, and then gradually developed into machine tool body manufacturing; from 2011 to 2015, the company upgraded to the downstream of the industrial chain based on excellent equipment part manufacturing capabilities, and its products were transitioned from customized machine tool body to CNC machine tools, and customers extended from CNC machine tool manufacturers to molds, automobiles, industrial valves, , engineering machinery and other industries.
In 2021, its CNC machine tools, equipment parts, and intelligent automatic production lines achieved operating income of RMB 833, RMB 173, and RMB 117 million, respectively, accounting for 73.2%, 15.2% and 10.3% of revenue, respectively. The company's revenue share of high-end CNC machine tools has continued to increase. In 2020, the revenue exceeded the mid-range CNC machine tools for the first time to reach 246 million yuan, with a gross profit margin of 32.9%.
With the increase in R&D investment, the company has gradually formed competitiveness in product fields such as five-axis linkage machining centers, horizontal boring and milling machining centers, and high-speed gantry machining centers, promoting the localization of high-end equipment such as five-axis linkage.
3, the world's six top machine tools
1) China Machine Tool
World CNC machine tool market share
World machine tool output value
World largest machine tool market
World first intelligent machine tool
World largest die forging hydraulic press
World largest super heavy duty CNC horizontal machine tool
World largest CNC gantry boring and milling machine
The world's largest high-precision CNC roll grinder
The world's largest processing diameter propeller machining machine tool
The world's largest hydraulic press
The world's largest gear NC machining equipment
The world's largest vertical milling machine
The world's first new five-axis hybrid machine tool
2)The United States machine tool
The United States is an important world's machine tool power. The US machine tool manufacturing industry is still in the world's leading position in machine tool technologies and industrial production such as efficient automated machine tools, automatic production lines, NC machine tools, FMS. It is mainly distributed in the central and western regions and northeastern states, and its main consumer users are automobile manufacturing, aviation industry, construction industry and medical equipment manufacturing industry.The reason why the United States' machine tool technology can maintain a long-term leading position in the world is that the government plays a crucial role in guiding and strengthening R&D and continuous innovation.
The world's first machine tool industry power
The world's first CNC machine tool
The world's earliest turret lathe and three-axis lathe
The world's first CNC machining center
The world's first ordinary milling machine
The world's earliest universal milling machine
The world's first optical diamond lathe
The world's largest machining center
The world's first VARLA4 parallel mechanism machine tool
1994 After the US G&L company developed the world's first VARLA4 parallel mechanism machine tool,
The world's first combined lathe
3)German machine tool
The world's first country with the most machine tools
0The world's fastest Stamping line
The world's first inverted lathe
The world's first five-axis vertical machining center
4, the British machine tool
The world's first boring machine
The world's first drilling machine
The world's first lead screw, light rod, feed tool holder and guide rail lathe
html l05) Japanese machine toolranked first in the world's machine tool production and export volume
0 World's largest gantry machining center manufacturer
6) Switzerland machine tool
World's machine tool per capita export value
World's first machine tool accuracy
World's first machine tool price
World's first 6 spindle/8 spindle
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