As reported by Cecimo (European association of the machine tool industries), the European machine tool builders cope well within the feeble international environment. According to preliminary forecasts, the machine tool production in Europe is projected to grow at an annual rate close to 4% and record more than 25 billion euro in 2017, after exceeding 24.3 billion euro last year. As regards to the exports, Cecimo said that they are likely to grow to a level of 19 billion euro if the business climate remains unchanged. Amongst the reasons of this positive trend, Frank Brinken, chairman of the Cecimo Economic Committee and vice-chairman of Starrag Holding, points out that “digitisation and future proven high quality standards increase the attractiveness of the European machine tool portfolio in foreign markets”. On the domestic European side, modernisation of production equipment and previously postponed investments for capital goods will likely contribute to a rise in machine tool sales. The European consumption is expected to pass 18 billion euro in 2017 and to retain a solid market share in global machine tool consumption above 26%. Such increment relates to an annual market expansion of nearly 3.5 percent.
