Getting up to Speed on Taiwan
Taiwan is a major player in the global machine tool industry.
Modern Machine Shop
Machine tool builders in Taiwan are striving to increase equipment capabilities while keeping unit prices down. At IMTS 2012, Mr. Yueh-Chyou Wen, director of the Taiwan Trade Center in Chicago, hosted a press conference offering insights about the Taiwan machine tool industry. Here are a few interesting points.
• 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.
For more information about the TIMTOS show, visit timtos.com.tw.