Taiwan stands a good chance of becoming a global top-3 exporter of machine tools in the next 7-10 years, up from its current foruth place, according to chairman Jimmy Chu for machine tool maker Fair Friend Enterprise.
In terms of machine tool output value, Taiwan may climb from seventh place globally to the top-five group, Chu said.
In line with increasing use of green energy in manufacturing, design in components of machine tools has to be adjusted, leading to demand for newly-developed machine tools, Chu noted.
Taiwan's ICT capability gives it competitiveness in developing an ecosystem supporting electric vehicles (EVs), Chu indicated. Taiwan-produced machine tools fall between mid-range and high-end ones technologically speaking, and can cater to EV components production, Chu said.