CINCINNATI-China is the leading consumer of machine tools, according to an annual survey. The 2004 World Tool Output & Consumption Survey, released by Gardner Publications Inc., states Chinese factories acquired an estimated $6.5 billion dollars worth of machine tools in 2003, moving the country from fourth place to first place in a year's time.
Chinese consumption jumped 27% in 2003, a year when many companies' machine-tool consumption levels remained stagnant. When measured in U.S. dollars, other countries that saw an increase include India with a 50% increase, South Korea with a 41% increase, Japan with a 28% increase and Taiwan with an 11% increase.