The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2017
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With production of USD1.2 trillion, Western Europe is the world’s second largest transport equipment producer after Asia Pacific. Western Europe plays a key role in automotive, aircraft and high-value transport equipment component production and exports. Output growth is forecast to be slower due to maturing demand in key export markets, yet the industry’s outlook remains highly positive. Germany will remain the key producer in Western Europe and drive transport equipment’s production growth..
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Western Europe is the second largest manufacturer of transport equipment after Asia Pacific. After record performance in 2013-2016, the Western European industry’s growth is forecast to stabilise and see a slower rate due to maturing demand in key export markets. However, transport equipment in Western Europe is forecast to grow at a 4% CAGR during 2016-2025, twice as fast as North America and close to the global average.
Germany has been the largest transport equipment producer in Western Europe driving the industry’s growth. Germany is set to remain the key producer of transport equipment over the forecast period, thanks to rising output of motor vehicles and accelerating aircraft production. The German transport equipment industry is forecast to expand at a 4% CAGR in 2016- 2025 and total USD753 billion in the latter year.
The transport equipment industry is generally heavily concentrated, as high entry barriers, capital requirements and costly product development prevent new entrants and encourage production consolidation. The largest companies are set to dominate over the forecast period, while mergers and cooperation agreements will lead to increasing production concentration.
Transport equipment exports amounted to USD963 billion in 2016 (net exports USD171 billion) and the positive trade balance was thanks to the innovative capabilities of Western European transport equipment manufacturers and focus on high-value-added goods production. In terms of countries, Germany accounted for 40% of total exports in 2016, followed by France and the UK.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.