World Machine Tool Production and Consumption Modestly Down in 2022
Modern Machine Shop
JULY 9, 2023
As the world continued to dig out from lingering Covid and supply chain issues last year, machine tool production fell some 10% and consumption some 9% across the top 50 industrialized countries in 2022. Specifically, overall machine tool consumption decreased from $87.3 billion in 2021 to $79.5 billion in 2022 while production decreased from $92.1 billion in 2021 to $82.6 billion in 2022.
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