Japanese Cutting-Edge
Solutions for Metalworking
Japanese Cutting-Edge
Solutions for Metalworking
Statistic
April 22, 2024
The Japan Machine Tool Builders’ Association (JMTBA) announced the firm value of machine tool orders for March 2024. The total amount of new orders was 135.6 billion yen. This was the second consecutive month of month-on-month (MoM) growth, and the 15th consecutive month of year-on-year (YoY) decline. Both domestic and foreign demand increased from the previous month due to seasonal factors and large orders, and exceeded 130 billion yen for the first time in six months.
Domestic demand increased MoM for the second consecutive month and decreased year-on-year for the 19th consecutive month to 49.2 billion yen. The fiscal year-end effect, including projects that had been postponed until then, was significant, resulting in a sharp increase of more than 50% from the previous month. As a result, monthly domestic new orders exceeded 49.0 billion yen for the first time in 12 months, almost at the same level as the same month last year.
Out of 11 industry categories, 10 industries, excluding Aircraft/Shipbuilding/Transport Equipment, posted MoM increases and 7 industries posted YoY increases. Among the major industries, Industrial Machinery exceeded 19 billion yen for the first time in 9 months, and Electrical & Precision Machinery also increased, exceeding 7 billion yen for the first time in 14 months. Motor Vehicles also increased from the previous month, but failed to reach 10 billion yen and remained lacking in momentum. Although domestic demand increased significantly in March, there are few signs that market conditions are recovering, and the search for the timing of a recovery is expected to continue for some time.
Foreign demand increased MoM for the second consecutive month and decreased YoY for the 15th consecutive month to 86.3 billion yen. All three major regions posted MoM increases, exceeding 85.0 billion yen for the first time in three months and remaining steady.
Orders by region were as follows: In Asia, there were large orders for electrical and precision products from East Asia, and there was an increase in orders from China after the Chinese New Year. Orders from other Asian regions decreased from the previous month, but from India, large orders for automotive applications remained strong, exceeding 4 billion yen for the fifth consecutive month. The total for Asia exceeded 38 billion yen for the first time in three months.
In Europe, orders from Europe as a whole increased slightly from the previous month, but fell below 18 billion yen for the third consecutive month, with an increase from the rest of Western Europe but a decrease from the EU countries. Since the beginning of 2024, the market has remained calm.
In North America, large orders for automotive applications were seen in the United States and Mexico. The North American total remained strong, exceeding 28 billion yen for the first time in six months and increasing YoY.
| Amount (million yen) | MoM change (%) | YoY change (%) | |
| Total Orders | 135,650 | 118.8 | 96.2 |
| Domestic total | 49,257 | 151.4 | 99.8 |
| Industrial Machinery | 19,778 | 141.9 | 90.9 |
| Motor Vehicles | 9,532 | 143.1 | 108.3 |
| Electrical & Precision Machinery | 7,145 | 184.5 | 121.6 |
| Aircraft/Shipbuilding/Transport equipment | 1,768 | 95.6 | 96.5 |
| Foreign total | 86,393 | 105.8 | 94.3 |
| Asia | 38,554 | 105.8 | 92.5 |
| Europe | 17,257 | 100.7 | 87.3 |
| North America | 28,220 | 110.0 | 101.0 |
Japan MT orders for
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