South Korea seizes Taiwan's market share in printing machine tools

Due to the depreciation of the Korean won and the printing and exemption of Korean machine tools exported to the Indian market under the CEPA tariff reduction agreement, the competitiveness of Taiwanese machine tools in India has been greatly affected. The sharp growth of Korean machine tool exports to India has severely oppressed the export of Taiwanese machine tools.

According to the Korea Machine Tool Manufacturers Association (KOMé„„MA), the export of machine tools in 2012 was US$2.55 billion, a year-on-year increase of 10.6%. South Korea's machine tool exports mainly rely on three major markets: Asia, Europe and North America. China, the United States and India are the top three export markets. China's Taiwan machine tool exports were 4.2 billion US dollars, China, the United States and Thailand were the top three export markets, and India fell from the sixth in 2011 to the seventh.

Under the Korean CEPA exemption tariff and the Korean auto industry's large investment in India, the Korean machine tool exports to the Indian market has grown substantially, the most representative of which is machining centers, lathes, machine tools, etc. The Indian auto industry production line uses more Korean machine tool products.

In 2012, India imported 2.32 billion US dollars of machine tools, of which imports from South Korea were 260 million US dollars, an increase of more than 70%; imports from Taiwan, China 130 million, down 3.6%. South Korea’s share of the Indian import market rose from 6.8% to 11.3%, while China’s Taiwan fell from 6.3% to 5.7%, South Korea rose from sixth to fifth, and China’s Taiwan fell from fifth to sixth.

South Korea and China Taiwan machine tool exports to India's machine tool products mainly processing centers, CNC lathes, machine tools. About 80% of Korean machine tool products are concentrated in these three types of products, while about 70% of Taiwan machine tools are concentrated in these three types of products.

The processing center Taiwan exports India with a total of 32.91 million US dollars, which is still ahead of Korean goods. This is because Taiwanese products still have advantages. Indian manufacturers are still the most important consideration when purchasing Taiwan products. South Korean exports of CNC lathes have been significantly ahead of Taiwanese products, mainly because Korean CNC lathes are mostly used in the automotive industry, while Taiwanese products lack experience in this area. Indian auto industry procurement will still give priority to Korean products.

In terms of forming machine tools, South Korea’s exports to India amounted to US$130 million, which has significantly outstripped China’s Taiwanese exports. This is due to the fact that India’s auto sheet metal parts and components are used throughout the entire line, and the Korean auto industry’s investment in India will definitely give priority to Korean automakers. Considering the use of Korean products, Taiwanese machine tools are relatively inferior to South Korea in the Indian market.

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