Machine-tool market forging ahead in Central and Eastern Europe
MARCH 9--IMS Research (Wellingborough, UK; www.imsresearch.com) forecasts that the EMEA (Europe, Middle East, and Africa) market for machine-tool equipment will steadily increase to more than €18.9 billion by 2011, growing at about 4.5% per year.
MARCH 9--IMS Research (Wellingborough, UK;www.imsresearch.com)
forecasts that the EMEA (Europe, Middle East, and Africa) market for machine-tool equipment will steadily increase to more than €345 billion by 2011, growing at about 4.5% per year. However, developing regions such as Central and Eastern Europe and the Russian Federation are expected to register the strongest growth, with annual rates of around 10%.
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 and 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."
IMS Research is a supplier of market-research and consultancy services on a range of global electronics markets. The company has offices in Austin, TX, USA, and Shanghai, China.