Despite severe downturns still topping the rankings in terms of global competition, Germany's machine tool industry is gaining renewed confidence for 2010.
In the fourth quarter of 2009, order bookings were up by 12 per cent from a low level. This is not due solely to the base effect: on the contrary, the order level has risen by more than 60 per cent compared to its nadir in July/August.
Because of the time-lag before this shows up in sales, this will not yet suffice for growth in production output. The VDW is therefore expecting German machine tool production to fall by 10 per cent in 2010, before the German manufacturers can in 2011 profit from the international investment motor gearing up to full speed.
The recovery in demand is being driven by export orders and project business. The newly industrialising countries China and India have recovered rapidly from the global financial and economic crisis. Other important markets like the USA, Russia or Brazil are getting back on track for growth. In structural terms, the more and more orders are coming from project business. Domestic demand is stabilising more slowly, and is at present being invigorated mainly by the warehousing cycle.
Germany's machine tool industry is coming through this crisis in much better shape than was the case in earlier downturns. This is apparent not least in the fact that the German manufacturers have emphatically overtaken their principal competitors, Japan. Their machine tool production output fell twice as steeply as their German counterparts, by 60 per cent to around 5 billion euros, excluding parts and accessories. German manufacturers have slightly increased their share of the global market, and are now approximately 7 per cent in front of Japan in the rankings.
The international machine tool industry is gearing up for the METAV in Düsseldorf from 23 to 27 February 2010. 680 prestigious exhibitors from 26 different counties will there be showcasing their innovations in terms of products and services for new requirements in industrial manufacturing operations.
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