The machinery industry in Germany is well-acknowledged around the world for its advanced innovative and high-quality products. As one of the largest sectors and most important GDP contributors in the country, Germany’s machinery and equipment industry achieved total turnover of EUR 225 billion in 2016. This figure is expected to hit EUR 236 billion over the next three years, and substantial growth is expected to continue over the near future.
According to a recent report from VDMA (The Mechanical Engineering Industry Association), the production value of Germany’s machinery and relevant industry reached EUR 204 billion in nominal terms in 2016, registering a new record high. With over 1 million employees in more than 6,400 companies, Germany’s machinery sector remains the largest employer in the country’s manufacturing industry.
When it comes to machinery trade, Germany is also in lead of the global machinery exports. In In 2016, Germany exported over $13.5 billion worth of machines and mechanical appliances, representing over 20% of the world’s total trade in that year. The EU, China, the USA, and Middle East are currently some of the top sales markets for Germany’s machine products. Today, Germany machinery manufacturers are world market leaders in 18 out of 31 machinery and industrial equipment segments, and over 77% of machinery turnover is generated from sales to international clients.
VDMA also reports that Europe proved to be the most important support pillar of German machinery exports in 2016. Exports to the EU rose by 4.1%, representing almost half of all machines exported from Germany. However, sales on the large overseas markets in 2016 were less effective: machinery imports from Germany to the US, the most important single market, dropped by 2.9% to EUR 16.3 billion. While machinery exports to China were also 9.3% fewer in 2016 than in the previous year, totalling EUR 14.6 billion.
Over the decades, the growth of Germany’s machinery industry has been mainly driven by the continuously industrialized environment in both domestic and international markest. So far, the four largest sectors around the world, namely electronics, chemicals, automotive and food and beverage, are showing the highest demand for Germany machinery industry. New market opportunities such as renewable energies and resources sectors will also help Germany’s machinery industry to grow further.
Germany’s leading position in the global machinery and equipment industry has also attracted significant numbers of buyers and traders from all over the world hope to source best business deals in the country. To help your machines and mechanical appliances business stay at the peak of the industry, BizVibe can provide most effective support when it comes to sourcing products and making deals with top machinery manufacturers in Germany.