EMO Milano 2021 Italy highlights opportunities for Korean machine tool industry
Italy — On February 24, a press conference for the South Korean public was held to present EMO Milano 2021, the Italian exhibition of reference for the metalworking machine tool manufacturing industry, scheduled to take place at Fieramilano in October 2021.
More than 40 participants attended the online conference organized by EMO Milano. The speakers of the meeting were Luigi Galdabini, General Commissioner of EMO Milano 2021, So-Ahn Kang, Director General at Komma, Korea Machine Tool Manufacturers’ Association, and Vincenzo Calì, Italian Trade Commissioner — Italian Trade Agency Seoul — Korea. The trade fair is scheduled to take place at Fieramilano Rho from 4 to 9 October, 2021. Galdabini said that he was very confident that EMO Milaon 2021 will be a success. He mentioned the availability of vaccines, forecasts of demand growth in all the main areas of the world and important incentive measures for investment in new production technologies.
Indeed, according to the forecasts processed by Oxford Economics, after a 23.4 % fall registered in 2020, the year 2021 should bring about a recovery in machine tool consumption worldwide, expected to grow by +18.4 % to € 61 billion, (€ Asia 33 billion, +15.6 %; Europe € 17 billion, +23.5 %; Americas € 12 billion, +19.7 %). Focusing on Europe, in 2021 both Italy (€ 3.1 billion, + 38.2 %) and Germany (€ 5.7 billion, +20.9 %) are forecast to grow with regard to investment in production technologies.
Government Incentives in Italy
The Italian government put special fiscal incentives in p, which consist on tax credits of up to 50 % for Italian companies investing in new machine tools, robots, automation systems, 4.0 and digital technologies in 2021 and 2022. The trade fair organizers believe that these incentives offer great business opportunity for all the exhibitors (from all over the world), and, in particular, for Korean machine tools builders, as South Korea is third in Italian machine tool import ranking.
Korean companies are among the main suppliers of Europe, where imports from South Korea amounted to € 600 million in 2019 — as well as of Italy, where the purchases of machines made in Korea totalled € 131 million, corresponding to 9.1 % of total imports.
Luigi Galdabini added: “With specific reference to the Italian marketplace, Korean manufacturers should be aware that, for the two-year period 2021-2022, the Italian Government authorities have established a full package of incentive measures for purchasing new, traditional and digital production systems, i.e. related to the issue of smart manufacturing integration”.
In 2015, 45 Korean exhibitors participated in EMO Milano. Their stands covered an exhibition area of around 5800 m2. According to these data, South Korea ranked eighth by number of exhibitors, and in sixth place by exhibit surface.