GERMANY – VDMA (German Machinery and Equipment Manufacturers Association) Woodworking Machinery has retracted its forecast for 2024, expecting a 15% decline in production, down to EUR 3.6 billion in Germany.

This follows a record EUR 4.2 billion in 2023.

With 3,600 members, VDMA represents a key voice for the machinery manufacturing industry in Germany and Europe.

“The initial market momentum was not sustainable, requiring us to revise our forecast,” stated Dr. Bernhard Dirr, Managing Director of VDMA Woodworking Machinery. Previously, a 10% decline had been predicted.

Customers in woodworking and furniture sectors remain cautious about investments, impacted by a sluggish construction sector and decreased furniture consumption. “Production cutbacks and uncertainty have led to hesitance in technology purchases despite strong demand for innovation,” added Dirr.

However, there are signs of recovery, such as increasing orders for standard machines. “We expect stagnation in 2025 as incoming orders will reflect later in production and revenue,” Dirr explained.

The VDMA believes that innovations in automation, sustainable materials, and AI in production will drive future growth. “At LIGNA next May, we’ll showcase innovations to boost demand,” Dirr concluded.