VDMA Woodworking Machinery: Forecast 2021 increased
The industry expects a significant increase in incoming orders and sales for 2021. The turnaround in incoming orders was already initiated at the end of 2020.11 May 2021
Hannover, May 11, 2021 – The Order intake in the woodworking machinery sector has increased significantly in a double-digit range in the first quarter of 2021 compared to the previous year. As a result, the utilisation of machine capacities is also increasing. Further growth can be expected in April, as the business situation in the mechanical engineering sector has picked up again and expectations remain at a high level. There are increasing signs that last year's severe setback with a 14.5 percent drop in production can largely be made up for in the current year. In total, woodworking machinery worth 2.88 billion euros (2019: 3.36 billion euros) was produced last year. "Already in the fourth quarter of the past year, the industry achieved the turnaround in orders across all segments. The figures now available for the first three months make us more than optimistic," said Bernhard Dirr, Managing Director of the VDMA Woodworking Machinery Association at the digital LIGNA.Outlook on 11 May.
Production increase of 15 per cent expected
VDMA expects a total production increase of 15 per cent for the industry in 2021. "With this, we are massively raising our forecast of plus 3 percent announced in November last year. We are more than optimistic about the coming months. However, there are also risks that we do not want to leave unmentioned. As of today, limited travel and the related hindrances in sales and assembly work continue to be the biggest risk. In addition, the delivery times for component supplies have increased dramatically due to the global upswing in the mechanical engineering industry. This additional risk, as well as the internal hygiene measures still in force and the short-time work that partly exists in some areas, are still delaying production significantly in some cases," Dirr explained.
Growth is expected from all regions of the world. Besides China, which has already picked up considerable momentum in the corona year 2020, the industry sees the greatest growth potential in North America. But in Europe, too, there are substantial growth opportunities in all customer segments from carpentery and joinery to industry.
The VDMA represents around 3300 German and European mechanical and plant engineering companies. The industry stands for innovation, export orientation, medium-sized businesses and employs around four million people in Europe, more than one million of them in Germany alone.
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