How companies can adjust to shifting growth patterns, the increasing pace of digitization, and organizational change.
Europe’s mechanical engineering sector employs 2.9 million people and generates revenue of €644 billion in 2015. Yet its future success cannot be taken for granted: some regions have seen creeping deindustrialization in recent years, China is increasingly tapping export markets, and the United States has managed to halt the erosion of its industrial sector. This second joint study between McKinsey and VDMA, the German Engineering Federation, focuses on European mechanical engineering and its future strategic alignment, examining shifting growth patterns, the increasing pace of digitization, and organizational change (learn more about this work here).
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