Market scenario Five major global events in 2019
With the New Year only a month away, MM International tracks down the five biggest global events that will be eyed in 2019. Read on to get an insight into the coming year.
Stronger economies and bigger business opportunities! We hope that the coming year will bring in these dynamics so that global markets can flourish with ease. However, there are a few pain points – Trump’s trade policy and the uncertainty of Brexit –which might trigger world trade to hold onto its horses.
The US trade policy
The US trade policy of imposing tariffs on imported steel and aluminium with the so-called objective of ‘balancing trade’ with specific countries has attracted a lot of flak from global leaders. China has even accused the Trump administration of starting a ‘Trade war’ as the US has time and again imposed heavy tariffs on goods imported from the East Asian country. At the recent G20 Summit in Argentina, Donald Trump met Chinese President Xi Jinping and have mutually agreed to halt new trade tariffs for 90 days to discuss the options of easing trade between the two major trade nations.
Will 2019 witness Brexit?
In addition to this, the European Union and the United Kingdom have their own set of challenges. Will the world witness a UK-EU divide? If yes, what will be the trade implications of this divide? “The most difficult part of Brexit will be to figure out the trade regime between the UK and the rest of the EU because the level of trade integration between the members of the EU is the deepest in the world and integrates regulations that govern how products and services are produced and sold within the EU,” states Arancha Gonzalez, Spanish economist and currently the Executive Director of the International Trade Centre.
This holds true as the UK faced a difficult time to finalise the draft of the ‘Brexit’ deal but the final agreement was approved by the EU without any hesitation. However, there are still some hurdles that need to be crossed for Brexit to be officially accepted by the world.
Well known Indian economist Raghuram Rajan states that uncertainty of any sort results in volatility and Brexit will be no exception. Seconding this opinion, a report by the German Mechanical Engineering Industry Association (VDMA) which focuses on the mechanical engineering industry mentions that the great uncertainty in Great Britain would lead to a considerable decline in capital investment.
The VDMA report further adds that in the first half of 2018 (January to July), the United Kingdom was the fifth largest foreign market for the mechanical engineering industry with an export volume of 3.7 billion euros. However, the European Union is of the greatest importance for mechanical engineering: in the first six months of 2018, German mechanical engineering companies sold products worth 41 billion euros to other EU countries, which accounted for almost half of all exports in this period (86.7 billion euros).
Amidst this tense scenario, the three biggest showstopper events for the manufacturing industry will be organised in order to promote global trade and business.
South and South East Asia’s biggest metal cutting and machine tool show – IMTEX will pave the way for 2019. Scheduled to be held from January 24–30, 2019 at the Bangalore International Exhibition Centre (BIEC) in Bengaluru, the India-based show will be celebrating its 50th year in 2019. Key decision makers from the manufacturing and ancillary industries as well as policy makers attend this trade fair in order to source the latest technologies and solutions for their manufacturing processes.
Organised by the Indian Machine Tool Manufacturers' Association (IMTMA), the gigantic event is expected to attract more than 75,000 trade visitors along with 1,000 exhibitors from across the world. The show will also comprise of two special pavilions – the Additive Manufacturing Expo (AME) and Industry 4.0.
As the name suggests the AME pavilion will focus on the additive manufacturing sector and the latter will highlight disruptive technologies for factories of the future such as advanced robotics, Internet of Things, augmented reality, artificial intelligence, advanced analytics, and so on. Another concurrent event called ‘Tooltech 2019’ will also be held at the venue to showcase machine tool accessories, metrology and CAD/CAM cutting tools, tooling systems and current trends in the tooling industry.
Hannover Messe is the God father of all exhibitions and this mammoth industrial technology trade fair will commence from April 1–5, 2019 in Hannover, Germany. The theme for the 72nd edition is ‘Integrated Industry –Industrial Intelligence’ which underlines the growing importance of artificial intelligence and machine learning in the production and energy industries.
Showcasing the best technologies and innovations from around the globe, the international platform will display six main exhibit sectors: Integrated Automation, Motion and Drives (automation, power transmission, motion control and fluid technology); Integrated Energy (conventional and renewable energy systems); Digital Factory (software and IT for production); Industrial Supply (subcontractors and lightweight design); ComVac (compressed air and vacuum technology); and Research & Technology (applied research and technology transfer).
Organised by Deutsche Messe, the show will host more than 90 conferences, forums and also have a dedicated area for start-ups and career development. A special session titled ‘Industrial Pioneers’ Summit will also be arranged to bring together thought leaders and innovators from all fields to discuss strategies and scenarios for the future of industry, business and society.
EMO Hannover is the biggest metalworking exhibition in the world and is preparing to welcome footfalls of around 2,200 exhibitors. More than half of these exhibitors originate from outside Germany. The exhibition will take place from September 16 – 21, 2019 and will exhibit numerous innovative solutions, industrial applications and future technologies in the field of metalworking.
Revolving around the theme of ‘Smart technologies driving tomorrow's production’ the show aims to focus on the development and implementation of new Industry 4.0 functions. The show organiser, VDW (Verein Deutscher Werkzeugmaschinenfabriken - German Machine Tool Builders' Association) along with its business partners and numerous exhibitors will also be conducting various special events, forums and conferences at the expo.
With so many global political developments and trade shows lined up for 2019, industry leaders are keeping their fingers crossed and hoping for the best in the coming year.