The Taiwan machine tools industry performed well from January to May 2014, showing accessories playing a key role in the sector. Machine drive type components such as bearings, gears, and ball screws posted a growth rate of 19.3 %, while machine tool components increased by 22.4%. Both categories exceeded the growth rate of 3.1%.
Chin- Kun Yu, vice chairman of the Taiwan Association of Machinery Industry (TAMI), believed that the Taiwan machinery parts and components industry is committed to upgrading products and enhancing accuracy. Sales have soared not only in Taiwan and China, but also in many developed and emerging markets in Europe, America, Japan, other Southeast Asian nations, India, etc.
Machinery parts and components will surpass machine tools to become the next rising star in the Taiwan machinery industry. In recent years, the annual output of machine tools has been steady around 5th or 6th, while exports remained around 4th or 5th in the world rankings. More importantly, Taiwan’s per capita GDP ranked 2nd (only behind Switzerland).
The machine tool industry cluster in central Taiwan is a community where companies are interdependent and in close cooperation with each other. The industry cluster is committed to making continuous improvements in quality.
In promoting Taiwan’s precision machinery industry development, many large precision machinery parks located in central Taiwan have provided opportunities for companies and investment firms to increase capacity and productivity. They cooperate with scholars and researchers to nurture R&D personnel specializing in precision machinery.
The Taiwan machine tool manufacturers should be prepared for opportunity and carefully explore the markets in order to identify their own niches. R & D of the most-demanded commodities on the main market as well as quality control and customer service will be key in creating a brand reputation and gain loyal customers.