According to the VDMA, machine sales already declined or stagnated in some countries last year. In countries where growth rates were still comparatively high on a euro basis in 2019, exchange rate changes were partly responsible.

The coronavirus pandemic is now proving to be the next heavy burden for the mechanical and plant engineering sector. VDMA economists are assuming that there will be catch-up effects in the second half of 2020. "However, these will be nowhere near enough to compensate for the interim losses. Global machine sales in 2020 will fall short of the previous year's result," predicts VDMA Chief Economist Dr. Ralph Wiechers.

According to estimates by VDMA economists, sales of machinery rose by a nominal 2 percent overall in 2019 to almost 2.67 trillion euros. At 1.37 trillion euros, Asia remained by far the largest manufacturing region in the machinery industry. The increase in turnover here also amounted to 2%, although this was a rather weak increase compared to previous years.

Weak growth in Europe

The pace of growth in Europe and in the EU countries as a whole was lower than the global average at plus 1% in each case. Although the EU countries produced significantly fewer machines (768 billion euros) than Asia, they produced more than twice as many as the USA. However, the United States was able to increase its turnover significantly by almost 7 percent to 348 billion euros. "Last year was already challenging for many machine manufacturers. Now companies around the world are confronted with the coronavirus and the resulting burdens. 2020 will be a major challenge for everyone," Wiechers comments on the result.

Germany has held its position as the third-largest machine manufacturer in the world since 2013. Last year, the sales volume of 296 billion euros fell 1 percent short of the previous year's record figure (300 billion euros). This means that Germany accounted for around 11 percent of global machine sales.

China once again led the field by a clear margin. The country has held the title of the world's largest machine manufacturer since 2009, with total sales of 876 billion euros, an increase of 2 percent on the previous year in euro terms.

Exchange rate fluctuations had a significant impact on global sales figures. In 2019, the yen appreciated by an annual average of almost 7% against the euro and the US dollar by just over 5%. This means that the increase in sales in both countries was lower in national currency than in the uniform euro perspective.