Getting up to Speed on Taiwan

Taiwan is a major player in the global machine tool industry.


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.