IMS Research forecasts that the EMEA market for machine tool equipment will steadily increase to over 18.9 billion euros (approx. U.S. $24.9 billion) by 2011, growing at around 4.5 percent per year. However, developing regions such as Central & Eastern Europe and the Russian Federation are expected to register the strongest growth, with annual rates of around 10 percent.
Senior analyst and report author, Don Tait commented, “The extension of EU membership by 10 countries in May 2004 and a further two in January 2007 is having a positive impact on the economic activity in the new entrants, and on their machine tool needs in particular. Rapid development within these regions has been helped by an increasing trend by machine manufacturers to set up manufacturing facilities in Central & Eastern Europe. This is to take advantage of the lower labor costs within this region, compared to Western Europe and in specific locations of good technical education and strong engineering traditions. “
Tait continues, “The use of faster and more automated machine tool equipment within the industry can only be expected to rise, to improve capital efficiency and reduce labor costs. Technical innovation is enticing producers to replace obsolete mechanical solutions with more versatile handling through robotics and more extensive use of PLCs, servos and machine vision. Apart from higher output, this is offering greater flexibility and improved process control.”
Back to Breaking News