The domestic market and exports made equal contributions of over four percent each. The domestic market generated orders for €5.7 billion, while exports totalled €9.4 billion.

Germany took third place with machinery production at €11.2 billion, falling behind China and Japan. The value is a five-percent increase from

last year. World machine tool production reached a value of €67.3 billion in 2015, excluding parts and accessories.

Commenting on the expectations for next year, VDW chairman Heinz-Jurgen Prokop said: “For 2016, we expect moderate growth of one percent. Strong growth in orders above all in the last quarter of 2015 gives cause for confidence.”

There was also positive news from the Precision Tool Association in the German Engineering Federation (VDMA). “The precision tools industry increased its production by a total of three percent to around €9.6 billion in 2015,” reported Federation chairman Lothar Horn. “The manufacturers of metal-cutting tools contributed to the record production figures with an increase in sales of approximately one percent, while chucking tools and tool construction each rose by around five percent.”

The Federation only anticipates a minimal increase in output for 2016, however.

Over half of the production of machine tools is expected to lie mainly in North Rhine-Westphalia, which has been the case for the past few years.

In order to stay ahead of the game, Dr Prokop remarked that it was necessary to provide solutions that competitors are not able to offer.

Referring primarily to digitalisation under Industry 4.0, he said that the industry should think in terms of holistic solutions to production problems.