IndiaWood 2020 will positively impact Asian markets
Photo Caption: Jürgen Köppel, President, EUMABOIS and CEO, Leitz GmbH & Co. KG
It goes without saying that the global economic environment is actually negatively influenced by various trade and political disputes, especially the one between China and the USA. The situation has worsened for China in recent days due to the outbreak of the Corona virus. Even so the impact on global economy cannot be rated, yet, I also see very good opportunities for 2020 in various markets and for sure India is one of these markets.
In general, Asia will show an interesting development in 2020, in particular various countries in South-East Asia like Malaysia and Vietnam. But not only Asia will offer opportunities in the coming months, also the US market and its neighboring countries have a good chance for a stable growth if the economic environment will not change significantly. Even so the Brexit is a fact, now, Europe will see a heterogenous development, which will be for sure stronger in the eastern part than in central and western Europe.
Due to the Corona virus, big exhibitions in China announced their postponement, so for sure IndiaWood 2020 will get an additional boost and will give an important impact to the Indian but also to other Asian markets.
IndiaWood and its sister exhibitions in Delhi and Mumbai have always been of special importance for the market development by presenting latest technologies and trends to the sustainable growing woodworking industry in India and in some other parts of the region. With the takeover by NürnbergMesse a further step in professionalism was done, which is of great benefit by strengthening this prosperous marketplace for customers and exhibitors, too.
Looking at the development of the Indian furniture industry, we could witness a very positive development during the past five years. More and more, latest technology like automation and system integration can be seen in the Indian woodworking companies which underlines that India is strongly on its way to become a competitive furniture and flooring producer for the global demand. According to some statistics, India is already at the same ranking as furniture producing country like Italy, which is on the 4th place in global comparison. Furthermore, the projection for the next five years is very positive for the Asian furniture industry stating an average growth of 2.4 percent per year. The projected growth is driven by China, but India and some South-East Asian countries play a more and more important role, too.
This potential offers great boundary conditions for IndiaWood 2020 and for sure we will see interesting and innovative presentations in Bengaluru. Talking to various participants, it is becoming obvious that all the major players also take IndiaWood as a presentation platform for their latest innovations because in a ‘Non-Ligna’ year, regional exhibitions like IndiaWood are offering a great opportunity for new product presentations.
Leitz with its strong market presence in India will present latest trends in the real and digital world in Bengaluru. In line with our claim ‘Solutions in new Dimensions’ we put especially the dimensions quality, productivity, efficiency, flexibility and reliability in the focus of our tools and services to be presented in Bengaluru. It goes without saying that tooling solutions covering our dimensions sustainability and knowledge will also be showcased on the occasion of IndiaWood 2020. No matter, whether the business of the visitors is panel or solid wood based, for sure it is must to visit IndiaWood 2020 and the Leitz booth D404 in Hall H4, to eyewitness present and future developments in the woodworking industry. I am already looking forward to my trip to India for participating in that great event which is also an important partner in the Eumabois Global Exhibition Network. See you in Bengaluru by the end of the month.