Last Update:
Mar. 10, 2011
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Part of the audited Consolidated Financial Statements and Management´s Analysis

Outlook for key customer industries

  • Continued strong growth in global industrial production (+5.0%)
  • Automotive industry: substantial growth, but not as strong as previous year
  • Construction industry: global growth, impetus particularly from emerging markets
  • Electrical industry and ICT: strong global growth
  • Paper industry: stabilization of worldwide production
  • Textiles industry: growth, particularly strong in emerging markets
  • Food industry: above-average growth in global production
  • Agriculture: robust production growth worldwide

In 2011, global industrial production will continue to grow sharply (+5.0%), exceeding the level reached before the economic crisis. In industrialized countries, we anticipate production to rise moderately while growth will be strong in the Asian emerging markets.

Global production volumes in the automotive industry will grow substantially in 2011, but not as strongly as in the previous year. As the timing of many vehicles purchases was moved up in response to car scrapping incentive programs, demand will decline in Europe in particular; production, however, will remain at a high level compared with 2010 due to exports. In the United States, automobile production will increase further, but will remain below pre-crisis levels on a per-unit basis. In Asia, especially in China, the pace of growth in automotive production will slow down.

The construction industry will grow again worldwide in 2011. This will mainly be driven by emerging markets. In industrialized countries, housing and commercial building activity will remain weak.

The electrical industry and the information and communication technology industry (ICT) will again experience above-average growth worldwide in 2011. Impetus will primarily come from Asia (excluding Japan). In Europe and Japan, we expect growth will not match the level of the previous year.

Production in the paper industry will benefit from growth in emerging markets and will stabilize worldwide in 2011. In the textiles industry, we expect continued high growth in emerging markets and developing countries but weakening growth in industrialized countries.

For the food industry, we expect above-average growth in global production in 2011. We anticipate robust average global production growth for agriculture.

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