The machinery and plant engineering sector is facing a decline in sales due to the pandemic. Current customer surveys show a strong restraint in planned new investments for the next 2 years; sales are expected to rise to pre-crisis levels from 2023.
Competition from the Far East is an existing and growing challenge, especially for German mechanical engineering. The machines from Asia are no longer copies, but are positioning themselves in the lower and medium price segments through extended functionality. Mechanical and plant engineering must respond proactively with forward-looking strategies, such as intelligent business models in after sales services, as well as increased efficiency through effective digitalization. What concrete options exist?
