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Forecast for 2024: German robotics industry expects weaker growth

Forecast for 2024: German robotics industry expects weaker growth

The manufacturers are on course for record sales. However, the increase is not as steep as last year. China is increasingly becoming a competitor.

The German robotics industry expects significantly lower growth this year than in 2023. Nevertheless, the expected increase in sales of 2 percent should result in a sales record of 16.5 billion euros. Last year, companies increased their revenues by 13 percent within a year to the previous high of 16.2 billion euros.

“The robotics and automation industry is stagnating in the face of a weak domestic economy,” said Frank Konrad, chairman of the VDMA Robotics + Automation trade association, explaining the current forecast. The industry is only expecting impetus from abroad this year: incoming orders there rose by 21 percent in the first four months compared to the same period last year.

On the European market, the industry is preparing for increasing competition from China. The trade conflicts with the USA have led to Chinese companies increasingly setting up local service and sales structures in Germany and the EU. “Germany as a business location needs a reliable framework for investments and new impulses to strengthen competitiveness,” said Konrad.

Source: Stern

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