Getting up to Speed on the Taiwan Machine Tool Industry
Mr. Yueh-Chyou Wen, director of the Taiwan Trade Center in Chicago, offers insight on Taiwan's machine tool builders.
- Taiwan is the world’s sixth largest machine tool producer and fourth largest exporter.
- Approximately 75 percent of the island’s machine tool production goes to the export market. Taiwan’s export sales of machine tools are estimated to hit a record high of U.S. $4.2 billion in 2012. Exports to the U.S. increased by 21.6 percent last year, ranking second to only China.
- The machine tool industry is the country’s most important industry by value. There are more than 500 machine tool manufacturers in Taiwan, with most situated in the Taichung area.
- Taiwan is among the world leaders in machine tool production despite its size. Taiwan has 23 million people living on an island with an area a little larger than the state of Maryland.
- The 24th TIMTOS, scheduled for March 5-10, 2013, will feature 950 exhibitors and 5,200 booths.