Ralf Moldenhauer, Partner and expert for strategic business development at BCG warns:
Chinese challengers will lastingly threaten German engineers. The Chinese companies will further invest in research & development, will also in future offer more high-grade products, and furthermore continue to aggressively overtake established markets to acquire technologies, brands, and Markets.
Latest figures show China’s rapid growth in the global construction machinery market, which has grown fivefold in the years from 2006 to 2011 from 3 to 15%. Similarly, the share of sales of classic machines, optical and electrical products increased between the years 2008 to 2012 in the European Union.Germany’s share of sales in other EU countries fell by 4%. Exactly for these opposing developments warns BCG and appeals to German companies to not rest on their export strength and monopoly power.
Source: Die Welt, article by Tobias Kaiser on 03/27/2014: China’s companies threaten the German mechanical engineering