Machine tools, more than a third in the world is European

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Cecimo announced a turnover for 2018 of € 27,5 billion, with a growth of 9% compared to 2017, securing Europe a 35% market share in the global machine tool production. The machine tools global output grew at a flat rate of 1% and reached a volume of € 79.7 billion in 2018. The production growth was dragged down by China, Brazil, Turkey and Canada posting two-digit negative growth rates.

Cecimo’s clients in Europe registered a +1.8% production growth rate in 2018 and expect a flat growth this year. The global production of the machine tool purchasing industries around the globe posted a growth of approximatively 5% in 2018 and is expected to slow down to 2.3% in 2019.

Last year, Cecimo manufacturers exported a volume of € 21.7 billion worth of machine tools, registering an export growth of +8.4% – slower than the one in 2017 (9.5%). The main export destinations outside Cecimo membership were China (25.7%), USA (18.3%), Poland (8.1%), Mexico (4.7%) and Russia (4.6%). In 2018, the world machine tool trade accounted for 44.1 billion, and posted a slower growth rate of 6.9%, after a 9.5% rate in 2017.

Based on internal figures, Cecimo’s machine tool consumption in 2018 is estimated at € 18 billion, 11.8% higher than in 2017. Oxford Economics suggests a flat growth rate of +1% in 2019, and a +4.2% recovery in 2020. The world machine tool consumption grew by 4% in 2018. This year, a 2.3% growth is expected and an acceleration of 3.5% in 2020.

The slowing of global trade, a weakening business sentiment, geopolitical risks and supply chain disruptions are weighting heavily on the European machine tool manufacturers, so that a slow down of the industrial activity is expected in 2019, with a some momentum recover in 2020.

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