by Sascha F. Wenzler, Vice President Formnext — 07 September 2023
Economic activity in mechanical engineering is slowing: The OECD countries are forecasting very low growth rates for 2023, and in Germany, stagnation is even setting in. This is affirmed by the latest survey the German mechanical and plant engineering association (VDMA) conducted on the general mood in the sector. The ongoing armed conflict between Russia and Ukraine, disrupted supply chains, high energy prices, uncertain energy supplies, and the increasing geopolitical distance among the USA, Europe, and China are some of the main reasons for the decline in orders in the industry. After years of growth – which only really dipped during the coronavirus pandemic – the world’s industrialized countries are no longer quite so optimistic about the future.
Economic activity in mechanical engineering is slowing: The OECD countries are forecasting very low growth rates for 2023, and in Germany, stagnation is even setting in. This is affirmed by the latest survey the German mechanical and plant engineering association (VDMA) conducted on the general mood in the sector. The ongoing armed conflict between Russia and Ukraine, disrupted supply chains, high energy prices, uncertain energy supplies, and the increasing geopolitical distance among the USA, Europe, and China are some of the main reasons for the decline in orders in the industry. After years of growth – which only really dipped during the coronavirus pandemic – the world’s industrialized countries are no longer quite so optimistic about the future.
This sentiment is filtering all the way through to AM manufacturers. While many of them still have a significant backlog of work, new orders are down in this sector, as well. The AM market itself remains highly dynamic, but there have also been several mergers and acquisitions that indicate consolidation.
At the same time, there appears to be no limit to the ways in which AM can be used. There’s been a particular increase in business cases and serial applications, which is very good to see. Staying ahead of the competition is always important, but this is especially true in an environment that’s no longer characterized by strong growth.
This makes technology showcases in our industry all the more crucial. From 7 to 10 November 2023, Formnext will once again bring together a who’s-who of the fAMily in Frankfurt to spotlight what’s already possible (and what will be soon) in Additive Manufacturing and the entire process chain. With the Nordic countries of Denmark, Finland, Norway, and Sweden on board as our partners this year, we’ll be focusing in particular on sustainability. This metatopic will not only be a constant concern going forward, but a key issue in competition, as well. You can find out more about it in this edition of our magazine – and later this year at Formnext, of course! Enjoy the read.
Sincerely, Sascha F. Wenzler
Vice President Formnext
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