TMTS 2024 – Intelligent Manufacturing for a Sustainable Future
Published on : Saturday 02-03-2024
Countdown has begun for the Taiwan International Machine Tool Show (TMTS) scheduled later this month – from March 27-31, in Taipei.
The Taiwan Machine Tool and Accessory Builders Association (TMBA) held the ‘TMTS 2024 & Machine Tool Annual Outlook Press Conference’ on 23rd January. The idea was two-fold – to conduct pre-show publicity and, at the same time, announce the annual production and sales status of the machine tool industry and the outlook for the year 2024.
Global market estimates
According to TMBA, the economic performance of some countries and industrial markets is expected to be excellent in 2024, but it is estimated that more than 70 countries in the world will hold national elections this year. In addition, geopolitical interference, the Russian-Ukrainian war, which has yet to be resolved, and the green carbon reduction policies of various countries may have various degrees of impact on domestic exports of machine tools and accessory builders, and it is necessary to pay attention to the development of the future.
As regards the forecast of Taiwan's main export markets for machine tools in 2024, the rising inflation and interest rates in 2023 will make US consumption tighten and investment in equipment assets become more conservative, coupled with the US presidential election to be held this year, which is slightly more variable. In the European market, despite slowing inflation and economic recovery, the energy crisis has not been resolved and the European Union's Carbon Border Adjustment Mechanism (CBAM) has begun to levy a carbon tariff, which has slowed the recovery in consumer demand for machine tools. China's market is affected by the real estate market bubble, lack of public consumer confidence and other issues, resulting in sluggish demand for private investment, which in turn affects the willingness to purchase equipment. On the other hand, India, Vietnam and Thailand in Southeast Asia are benefiting from post-pandemic supply chain restructuring, production relocation and rising domestic manufacturing demand, which has led to a significant increase in demand for machine tools.
In addition, Turkey is also one of the emerging markets for machine tool manufacturers from Taiwan. Located in the centre of Europe and Asia, with the largest machine tool industry in Central and Eastern Europe, Turkey is a major importer of Taiwan's machine tools. As a result, domestic machine tool and accessory manufacturers from Taiwan are also actively rushing to invest and set up factories in Turkey.
India, a promising market
When Patrick Chen, Chairman of TMBA visited India in mid-2023, he noticed that the Indian government has been actively promoting the ‘Make in India’ programme in recent years. As the demand for machine tools is expected to increase on the back of rising investments in the manufacturing sector in India, Mr Chen has exhorted the TMBA members to take advantage of the situation to release a variety of preferential incentives, to build a friendly business environment, and attract the supply chain to set up manufacturing bases in India. As the demand for imported machine tools from India continues to grow this year, it is expected that the Indian supply chain will become more complete in the future, and the bull market is also expected to bring new business opportunities for Taiwan's machine tools.
The Indian automotive industry holds immense potential for future growth, targeting the ever-growing middle-class population aspiring to have their own automobiles. In a bid to strengthen ties with the Indian market, TMBA has established a collaboration to extend invitations to leading manufacturers of auto components in the country. India's automotive industry is a vital economic sector, contributing 49% to the country's manufacturing GDP as well as 7.5% to the overall GDP while also supporting approximately 38 million jobs. Despite challenges like chip shortages, overbooking, fuel price induced inflation and rising commodity prices, the overall industry is still valued at $150 billion USD. By encouraging Indian automotive industry’s participation in the show, TMTS 2024 looks forward to fostering even closer collaboration between the Taiwan machine tool sector and the Indian automotive industry in the future.
Creating a green supply chain
In recent years, TMBA has been actively promoting the green transformation of the supply chain. Following the release of the "Reference Manual for Sustainable Management of the Machine Tool Industry in Response to Carbon Reduction" in October 2022, which clearly points out the blueprint for sustainable development of the Taiwan machine tool and accessory industry in response to energy saving and carbon reduction, TMBA has also conducted a series of courses on GHG inventories and carbon footprints this year in the hope of assisting its members to build up a complete set of knowledge related to carbon emissions and the ability to calculate the carbon footprints.
In addition, in 2023 TMBA also worked with the Industrial Development Administration (IDA) and the Chinese National Federation of Industries (CNFI) to establish the first carbon reduction chain for machine tools in Taiwan. At the same time, the association also encourages major domestic machine tool and component manufacturers to participate in the Carbon Reduction Chain, including Tongtai Machine & Tool, Victor Taichung, SEYI Machinery, Yeong Chin Machinery, HIWIN Technologies, Yuan Jun Fong Casting, and Fongei Industry, etc., all of which have achieved considerable results in reducing carbon emissions. TMBA will pool the strengths of the industry to promote the upgrading and transformation of the green industrial chain. The association hopes that the government will allocate resources and through the collaborative efforts of the industry and government, the green transformation experience of the machine tool industry will serve as a reference for the rest of the domestic industries to transform.
Intelligent manufacturing for sustainable future
The theme of TMTS 2024 is "Dual Axis Intelligent Manufacturing for a Sustainable Future", focusing on the ten elements of the two main axes of Digital Transformation (DX) and Green Transformation (GX), which correspond to the future development trend of the industry. To demonstrate the characteristics of the industry ecosystem, the booth arrangement is based on the solution of the machine tool industry ecosystem as the main axis of the exhibition, and visitors can quickly search for exhibitors' key points through the exhibition app.
In the area of digital transformation, TMBA collaborated with the German Machine Tool Builders' Association (VDW) and the German Machine and Plant Construction (VDMA) to set up Umati special showcase section for the first time at a domestic machine tool exhibition, and more than 20 domestic machine tool and component manufacturers responded to the event by showcasing their intelligent ecosystems across multiple venues.
In the area of green transformation, the "Green Machine Energy Label Assessment" will encourage exhibitors to develop energy-saving equipment or energy-saving accessories, and to demonstrate their green transformation efforts through different levels of labels. During the exhibition, a series of forums will be held, inviting experts from Taiwan and abroad to share their views on key issues such as digital transformation, green transformation and talent cultivation for the industry, as well as organising visits by students from domestic universities and colleges.
TMTS 2024 will be held at the Taipei Nangang Exhibition Center, Halls 1 and 2, from 27th to 31st March. The show will run for five days, with more than 600 exhibitors, 3,350 booths and more than 10 overseas buyers registered for the show, which is expected to attract 55,000 visitors.
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