The German Machine Tool Builders' Association (VDW) has confirmed its projected growth of 30 percent for the current year for order bookings in the German machine tool industry.
According to VDW, a survey of the German machine tool industry taking account of all currently available data depicts a very positive situation. Orders rose by 91 percent during the first seven months of 2011, to the highest level ever experienced by the industry.
Demand is strong worldwide, with many smaller markets registering excellent triple-digit growth rates. Most of the larger markets such as China, the USA, Russia, France and Italy are also registering growth at least in double digits. Booked orders in June of this year reached a record high of 9.7 months, supporting production well into the coming year.
Martin Kapp, chairman of VDW, stated, "The international machine tool industry is in excellent health and demand continues at a very high level." The VDW looks forward to a successful trade show and continued strong international demand for machine tools, according to Kapp. Growth rates in the second half-year will slow somewhat, due to the high levels already achieved, he added.