German Machinery Makers to Set Foot in Mid-market of China

In 2012, China topped the world as the largest machinery market with the revenue of 678 billion euros, exceeding US’s 330 billion euros. In 2003, machinery sales value in China was 77 billion euros. In 9 years, the sales value reached 678 billion euros with 27.3% CAGR. VDMA (Verband Deutscher Maschinen- und Anlagenbau e.V.) chairman Thomas Lindner states that companies with the capability to make a long-term development in China must set foot in this market as soon as possible, rather than wait for competitors to make a move. Research shows that in the next 3 to 5 years 25% of German machinery makers will have their own R&D department in China.