Industry outlook Total value of Japanese machine tool orders: 1.32 billion dollars
The Japan Machine Tool Builders’ Association will be hosting Jimtof 2018 with an objective of increasing business opportunities for the country’s machine tool segment.
The current market scenario of the Japanese machine tool industry is steady. According to recent reports by the Japan Machine Tool Builders’ Association (JMTBA), the total value of Japanese machine tool orders in May was 1.32 billion dollars. This was a decrease of 8.5 % compared to April 2018 and marked the second consecutive month of month-on-month decline. However, this figure represented an increase of 14.9 % compared to the same month of the previous year and marked the eighteenth consecutive months of year-on-year growth.
Japan’s machine tool orders
In terms of orders, the country’s domestic orders fell by 8.2 % from April amounting to 5.64 million dollars (62.90 billion yen). This marked the second consecutive month of month-on-month decline. This figure was a growth of 23.2 % over the same month of the previous year and marked the sixteenth consecutive month of year-on-year increase.
The scenario of Japan’s foreign orders was similar in nature as orders fell by 8.7 % from April to 774.8 million dollars (86.35 billion yen), marked the second month of month-on-month decline. However, foreign orders showed an increase of 9.5 % over the same month of the previous year, and this marked the eighteenth consecutive months of year-on-year growth.
The report also added that orders in the Asia region fell by 13.2 % from April to 359.1 million dollars (40.02 billion yen). This was an increase of 1.4 % over the same month of the previous year. Interestingly, orders from Europe rose by 1.6% over April to 174.8 million dollars (19.48 billion yen); this was an increase of 14.5% over the same month of the previous year. Orders from North America fell by 7.4% from April, amounting to 230.4 million dollars (25.68 billion yen). This figure was an increase of 23.8% over the same month of the previous year.
The JMTBA is in charge of handling the country’s machine tool sector and is also responsible for the industry’s growth and contribution to the overall economy of Japan. One of the most significant aspects of the trade association is the promotion of the Japanese machine tool industry around the world in order to achieve potential business deals.
This is precisely the reason behind JMTBA organising the global machine tool exhibition, Jimtof. Held every alternate year, this year the expo is scheduled to be held from November 1-6, 2018 in Tokyo, Japan. Under the theme ‘Connect’, the trade fair is expected to attract the who’s who of the global machine tool segment and also witness a significant number of footfalls.
Some of the prominent leaders of the Japan machine tool industry include DMG Mori Seiki, Yamazaki Mazak, Okuma Corporation, Makino Milling Machine, etc. All these major players along with other global companies will be showcasing their latest range of technologies and solutions at Jimtof 2018.
This article was first published on MM International.