Machine tools: partial recovery in 2021, the sector is a priority for Europe
The crisis caused by Covid-19 will have repercussions on many sectors for a long time to come, including the sector of machine tool manufacturers throughout Europe and the world.
According to the first data reported by Cecimo, 2020 will see a sharp decline in demand in the sector and a slight recovery could come from 2021.
In general, since the outbreak of the pandemic in March 2020, companies have worked under 50% of their production capacity and have been affected above all by services related to the installation of new plants and maintenance, not even reaching 40% of total capacity.
Forecasts for now see the European machine tool market down by 25.8% in 2020 and much of the collapse in demand comes from the automotive sector which more than others has felt the impact of the contraction in demand.
Despite this, the European machine tool industry is expected to recover partially in 2021 and stabilize by 2022, when growth of + 5% is expected, although demand is still very volatile and could therefore vary considerably in this period.
Opportunities for industrial machinery manufacturers even during the crisis
Although the period is strongly negative and the future uncertain, it is necessary to take into account the numerous incentives made available to businesses by governments to support businesses; moreover, numerous changes, especially related to digitization, are strongly helping the development of a more flexible Industry 4.0 system.
Governments have also begun to consider more the issues relevant to companies to better support them: from environmental sustainability to export laws. In particular, on the export issue, European governments are taking action to try to create international agreements and encourage the export of machine tools in key markets, such as China.
