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The output value of the machine tool industry declines and the foundry suffers
Abstract Machine tools are made up of numerous components, both large and small, many of which are produced through casting. According to Jinmo.com, the machine tool industry has been facing a significant downturn since last year. Companies have seen a sharp drop in orders, and a decline in output value has become widespread across the sector. These challenges have not only affected machine tool manufacturers but also had a ripple effect on foundries that supply casting parts for these machines.
In 2012, the machine tool industry experienced a dramatic fall in profits. Major domestic machine tool companies reported an average drop of around 30% in their output value. Even large enterprises like Shenyang Machine Tool and Kunming Machine Tool were not immune to this downturn. The overall output value of key machine tool companies declined significantly. Data from January to October 2012 showed that due to a sharp drop in market demand, the total industrial output of key enterprises fell by 18.1% year-on-year. The output value of the gold cutting machine tool industry dropped by 19.1%, while production fell by 29.7%. Similarly, the output value of general-purpose machine tools decreased by 18.2%, with production down by 27.5%. The output value of rolling functional components and numerical control systems saw even steeper declines, falling by 35% and 35.8%, respectively.
As the machine tool industry struggled, the number of orders for casting parts from foundries also decreased. This has created additional pressure on foundry companies, as they rely heavily on the demand from the machine tool sector. The slowdown in the industry highlights the interconnected nature of manufacturing sectors and underscores the need for innovation and diversification to navigate such economic challenges. With the industry still recovering, it remains crucial for all stakeholders to adapt and find new ways to sustain growth in a difficult market environment.