Germany's robotics sector is anticipating slower growth in 2024 at just 2%, likely to reach €16.5 billion ($17.7 billion) after posting a rise in turnover of 13% last year, the Mechanical Engineering Industry Association (VDMA) reported in Frankfurt on Monday.
The figure will nevertheless be a new record for the sector.
"The robotics and automation sector is marking time given the weakness in domestic demand," said Frank Konrad, head of VDMA Robotik + Automation, while presenting the forecast for next year.
This year, the robotics sector is seeing growth only in foreign markets, where order intake in the first four months rose by 21% compared with the same period a year ago.
In Europe, increasing competition is expected from China. Trade conflict with the United States is leading Chinese companies to expand service and marketing structures in Germany and across the European Union as a whole.
"Germany as a production site needs a reliable basis for investment and fresh impulses to boost competitiveness," Konrad said.
