Impact of COVID-19 on China’s machine tool industry
he impact of COVID-19 on the future of China’s machine tool manufacturing industry
The sudden outbreak of COVID-19 is a severe test for all walks of life and will definitely accelerate the huge transformation of China’s machine tool manufacturing industry.（HONBbearing02）
1.Accelerating price competition in machine tool manufacturing
The price war will become inevitable, and homogeneous competition in machine tools will become more intense. Especially for flow products, international first- and second-tier brands will also join in. The market demand will have a release growth in the short term due to the emergence of the epidemic, and it will remain at a low level for a long period of time.
2.Innovation is the trend, but also the driving force for enterprise development
Chinese people are very innovative, coupled with the profit-oriented nature of capital, where there is interest, capital will flow into it, making the time window of machine tool manufacturing innovation shorter, such as three months, six Months will not exceed one year at most, so homogenization is inevitable, and lack of increment can only be a stock game.
Innovation will always be the driving force for the development of leading enterprises. The choice of the direction of innovation will be extremely challenging. It must meet the needs of customers and meet the future industry development goals.
3.The epidemic is a crisis for some machine tool manufacturers and a good opportunity for other companies
China has been the world’s largest consumer market for machine tools for many years. This consumption scale will not fundamentally change due to the epidemic situation. The market size is still in China. The key is whether the individual enterprise has sufficient staying power and can maintain a steady increase in market share.
Crises are fighters for prepared enterprises, and each crisis is an opportunity to change the industry structure. As many people are disappointed with the future, there will be as many people with hope for the future!
4.The epidemic will change the strategic rhythm and action capacity of machine tool manufacturers
The machine tool manufacturing industry is a capital-intensive and talent-intensive industry. Due to irresistible factors, the cash flow of machine tool manufacturing companies will withstand huge tests.
Whether it is the machine tool product itself, delivery time, technical service, after-sales service or even various decisions, it will be closely related to the survival and development of the enterprise, and it will be based on the core concept of quickly adapting to customer needs.
5.The epidemic restricts population movements and accelerates machine tool automation
With the disappearance of the demographic dividend, the increasing labor costs, and the rapid development of electronics and information technology and the reduction in costs, the epidemic will undoubtedly accelerate the market demand for automated and intelligent machine tools to get rid of excessive dependence on labor.
Customers’ demands for online training, online inspection, online maintenance, and even online operation of machine tools will become more and more urgent; simplicity, practicality, economy, and reliability will become the most satisfied requirements of customers.
6.What determines the survival of a machine tool manufacturing enterprise is the inherent foundation of the enterprise
After all, the development of an enterprise must return to follow the law of market development.
The so-called middle and high-end products produced by the domestic machine tool manufacturing industry, such as CNC systems, linear guides, ball screws, bearings, tool holders, hydraulic parts, pneumatic parts, etc., are almost the same as those of foreign first- and second-tier enterprises. Whether it is accuracy or failure rate, compared with foreign first- and second-tier brands, there are differences to varying degrees? Even with parts processing, even with imported equipment of the same grade, why are there still many problems with domestically processed parts? The reason lies in the process control. There are problems in each link of processing, assembly, and final assembly. The final product is a summary of these links.
7.The core of China’s machine tool manufacturing industry’s success
The so-called brand is the user’s perception and market recognition. Only when the brand is recognized, can flow products get continuous orders, can brand power be upgraded to flow products, and brand strength can bring product premium capabilities.（Content source: China Machine Tool Industry Association）
The so-called brand is the user’s perception and market recognition. Only when the brand is recognized, can flow products get continuous orders, can brand power be upgraded to flow products, and brand strength can bring product premium capabilities.（Content source: China Machine Tool Industry Association）
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