Machine tool sector: Cautiously positive

The improving economic climate has an impact on the European machine tool industry with machine tool production increasing from €22.7bn in 2013 to €22.9bn in 2014. CECIMO estimates that the cautiously positive mood will continue this year and that European machine tool production will increase by 3%.

CECIMO countries exported machine tools in 2014 to a value of €18.2bn, marginally less than in 2013. This can be explained by the slowdown of economic growth in the emerging markets. On the other hand, changes in consumption patterns in those counties and the improving growth outlook in developed markets forecast a growth in exports this year.