Machine Tool Industry 2024: Between Challenges and New Horizons

The year 2024 holds a mix of challenges and promising opportunities for the machine tool industry, influenced by global factors such as wars, trade restrictions, and Germany's climate strategy. In this blog post, we take an exclusive look at the current trends and technologies that will shape the face of the machine tool industry this year.

Massively declining order intake and the outlook for 2024

The industry is currently experiencing massively declining order intake, mainly due to the impacts of wars, global trade restrictions, and the German government's climate strategy. Experts expect positive impulses only in the second half of 2024. The rough patch requires resilience, despite a still high order backlog of about eight months. New orders have yet to materialize, but there is hope for revival through growth sectors such as electromobility, wind power, aerospace, and defense, which are expected to pick up momentum only from the second half of 2024 onwards.

Europe in focus: High energy prices and uncertainties

Especially in Europe, high energy prices, inventory reduction, and uncertainties regarding bureaucracy and skilled labor are noticeable burdens. The geopolitical situation remains volatile and poses a significant risk.

Automation and CO2 footprint as dominant themes

In 2024, automation and the CO2 footprint are expected to dominate the industry. In addition to the current declines in orders, German tool and mold makers face challenges such as Chinese imports, bureaucracy, and high energy costs. The implementation of countermeasures will be crucial, as companies must present the CO2 tool passport by no later than 2026.

Need for an investment-friendly environment

The current challenges emphasize the importance of an investment-friendly environment. The massively declining order intake is a clear sign of burdens such as inflation, bureaucracy, high tax burdens and energy costs, as well as the shortage of skilled workers. Experts therefore demand improved investment conditions, training and further education, as well as tax incentives for research without a cap.

Conclusion: Complex challenges, but also opportunities

The machine tool industry faces a variety of complex challenges in 2024. Global developments require flexibility, innovation, and sustainable practices to ensure long-term success. Striking a balance between these challenges and the promising opportunities presented by new technologies and trends will be crucial to leading the machine tool industry into a successful future.

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