IMTS: German Machinery and Equipment Orders Up in 2010By Germany Trade And Invest, PRNE
Thursday, September 9, 2010
BERLIN and CHICAGO, September 10, 2010 - Germany's machinery and equipment industry continues its
rebound from the global downturn, posting a 48 percent increase in orders
this July over last year's figures. Growth in 2010 has been driven by a
combination of increased domestic demand and exports. Germany Trade & Invest
will have representatives at the International Manufacturing Technology Show
(IMTS) in Chicago from September 13-18 to introduce opportunities for
companies in Germany's machinery and equipment industry.
Domestic orders increased by 38 percent and export orders were
up 54 percent compared to the same period a year ago, according to the latest
figures by Germany's Sector Association Machine Tools and Manufacturing
Systems (VDMA). An average of the period from May to July 2010 records even
higher figures - a 57 percent total increase, including 51 percent for
domestic orders and 60 percent for export orders, according to the
With an overall turnover of EUR 161 billion in 2009, Germany's
mechanical engineering industry remains the strongest in Europe with the
market expected to grow in 2010. Machinery and equipment is one of Germany's
largest industries, with over 6,100 companies along the value chain and more
than 930,000 highly-skilled workers. The strength of the industry is driven
by Germany's long engineering tradition, its position as a leader in
technological development, and its diversified industrial base.
The combination of strong domestic demand and exports makes
Germany an attractive business location for companies in this industry.
Domestic demand for machinery and equipment is over EUR 100 billion annually.
International enterprises located in Germany can therefore reach the largest
domestic market in Europe and benefit from a long tradition of export
strength. Germany remains the world's leading exporter in this industry with
19.2 percent share of the global trade in machinery and equipment, putting it
ahead of Japan and the USA in 2009. With the world's top ranked
infrastructure behind Hong Kong, according to a new World Economic Forum
report, reaching customers across Europe is rapid and efficient.
Innovation is also a major factor for the industry. Annual R&D
expenditures amount to over EUR 5 billion, making the M&E industry one of the
most innovative industries in Germany. Twenty eight percent of the world's
mechanical engineering patents are registered by companies based in Germany.
Germany Trade & Invest will have industry experts on hand to
outline investment opportunities in Germany at this year's IMTS. The
organization also invites potential partners from the German and American
business communities to a German Night reception on September 14.
Germany Trade & Invest is the foreign trade and inward
investment promotion agency of the Federal Republic of Germany. The
organization advises foreign companies looking to expand their business
activities in the German market. It provides information on foreign trade to
German companies that seek to enter foreign markets.
Germany Trade & Invest Eva Henkel Email: firstname.lastname@example.org T: +49(0)30-200099-173 F: +49(0)30-200099-111
Germany Trade & Invest, Eva Henkel, Email: eva.henkel at gtai.com , T: +49(0)30-200099-173, F: +49(0)30-200099-111.
Tags: Berlin And Chicago, Germany, Germany Trade and Invest, Illinois, September 10