German Machine Tool Makers Close 2021 with Full Order Books

Frankfurt am Main, Germany – The German machine tool industry received 51 percent more orders in the fourth quarter of 2021 than the previous year. Orders from Germany increased by 62 percent. Foreign orders increased by 46 percent over the previous year. The total number of orders received by German manufacturers increased by 58 percent in 2021. Domestic orders were 51 percent greater than the previous year, while foreign orders were 62 percent higher.

The improvement in foreign order levels is widespread across all areas. Europe experienced the highest rate of growth, with a rate of 90 percent. The Americas and Asia were up 66 and 61 percent from the previous year, respectively. Within Europe, both Italy and Austria, as well as the Czech Republic, were supported by major investment funding programs and responded enthusiastically. While Austrian orders only returned to normal in the second half of the year, Italian orders remained high throughout the year. China and the United States, the two leading markets, also performed well. Overall, though, the United States has demonstrated greater momentum, and has closed the gap with China.

Stating that the excellent result demonstrates how German manufacturers have recovered from the COVID issue, and orders are 11 percent higher than in 2019, Wilfried Schäfer, Executive Director, VDW (German Machine Tool Builders’ Association), concluded, “All in all, there are great prospects of the sector having a good year in 2022. We are expecting the wave of Covid-19 infections to weaken in the coming weeks and many restrictions to fall away. Most manufacturers also expect supply problems to ease in the second half of the year. In particular, the bottlenecks in the logistics chains should resolve themselves, allowing companies to process their orders and deliver their machines more smoothly.”

Image Source: VDW

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