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Metals and Engineering Vision 2025

Author

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  • Nikinmaa, Timo

Abstract

European metals end engineering industry has managed to keep its position in global competition. Germany has become the leading manufacturer of machines and equipment. Metals and engineering products are used in nearly all industries and businesses, and especially due to emerging economy growth the demand outlook is favourable. New materials, new production methods, like additive manufacturing, and new moving power solutions improve the products’ raw material and energy efficiency. Increasing application of information and communication technology raises the effectiveness of production and products. Thanks to automation and robotics machines can be substituted for human labour in inconvenient and hazardous environments. Industrial internet creates new business opportunities.

Suggested Citation

  • Nikinmaa, Timo, 2014. "Metals and Engineering Vision 2025," ETLA Reports 28, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:report:28
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    File URL: http://www.etla.fi/wp-content/uploads/ETLA-Raportit-Reports-28.pdf
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    More about this item

    Keywords

    Metals and engineering; Manufacture of fabricated metal products; Manufacture of machinery and equipment; Future outlook; Geography of manufacturing; Globalisation; Automation;
    All these keywords.

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • L64 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Machinery; Business Equipment; Armaments
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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