Germany Trade & Invest is using the International Manufacturing Technology Show (IMTS 2014) held in Chicago this week to tout “the sci-fi future of traditional German engineering.” The German trade and investment promotion agency cited VDMA figures showing that the German mechanical engineering industry generates about 30% of the country's GDP and employs over 1 million people in approximately 6,000 companies with combined revenue of EUR 200 billion.
The agency said the industry is making big investments in industrial automation as Germany pushes to establish itself as a leading provider of cyberphysical systems and the advanced manufacturing solutions that constitute Industry 4.0.
“Industry 4.0 will make production processes more flexible and enable the development of highly customized products as well as the integration of new services into the value-creation process,” noted Jerome Hull, industry expert at Germany Trade & Invest. BITKOM estimates that Industry 4.0 could generate growth of approximately EUR 79 billion in six sectors in Germany by 2025.
Germany Trade & Invest also said Germany is a leader in energy efficiency and support programs, with 35% of German manufacturers considering energy efficiency a primary reason to invest in new equipment and not just a welcome side effect.