Russian machine tool imports will continue to grow in the next few years

In a report published on October 31, a Russian business consulting website highlighted key insights from the "Russian Material Processing Machine Tool Market Analysis." According to the data, the Russian market for machine tools is heavily reliant on imports. In 2012, imported material processing machine tools accounted for 92% of the total supply, reaching 1.157 million units. In contrast, domestically produced machine tools made up just 1%, or around 10,000 units. As of early 2012, Russia's total machine tool inventory stood at 78,000 units. During the economic crisis of 2009, Russian machine tool imports dropped by 26%. However, as the economy began to recover in 2010, imports rebounded, reaching 960,300 units. The trend continued in 2011, with imports rising to 1.169 million units. In 2012, the market remained relatively stable, with only a minor 1% decline. On a value basis, Russia imported machine tools worth $2.5 billion in that year. Between 2008 and 2012, China was the largest supplier of machine tools to Russia, accounting for 45% of the imports. In 2012, Germany followed closely, holding a 13% share. Italy came in third with a 10% share, while Taiwan ranked fourth with 7% of the market. Industry analysts predict that from 2013 to 2017, the annual growth of imported material processing machine tools in Russia will average 1.9%. By 2017, the country's machine tool imports are expected to reach 1.27 million units, reflecting ongoing reliance on foreign suppliers despite domestic efforts to boost local production.

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