The German economy is the largest economy in Europe and fourth worldwide in terms of US dollar exchange rate. Germany is the leading exporter in the world of merchandise. Germany has unlimited opportunities and various growth sectors with a few of the main opportunities listed here.
New market entrants that offer innovative products with high quality and modern styling are most successful in the German market. High-tech products, such as computers, innovative software, electronic components, healthcare and medical devices, synthetic materials, and automotive technology are in high demand. Germany remains a major industrial manufacturing market place and factories are highly automated.
Multi-media, high-tech and IT service areas offer great potential and on the other side of the spectrum, certain agricultural products and building materials are also in high demand.
Price is normally not the main factor for German buyers but rather the quality of the products and the service. The market does, however, expect good quality at a good price and negotiations with potential buyers can be very tough.
Machinery is one of the most important market sectors in Germany. As a leading supplier of machines globally, the German economy is very much driven by this sector that also offers huge opportunities for foreign investment. The sector is very dependent on exports and therefore very open to new and innovative products.
Chemicals are found in many products and in Germany, the emphasis is on eco-friendly products. Going green is a major trend and Germany has for many years played a major role in driving eco-friendly production. Large chemical giants are dominant on a global basis but they rely on smaller companies to provide goods and services to be competitive internationally.
Germany is well known for its automotive industry and many market sectors support the development and production of cars. This represents huge opportunities especially with the move to reducing the use of combustion engines toward electric mobility.
Metal manufacturing and processing is another huge and very important industrial sector although there is an absence of the raw material in Germany. The mayor metal industries include iron and steel, non-ferrous metal, and foundry industries. Opportunities exist in supplying know-how and also innovative products that are used in metal manufacturing. With a high level of automation in Germany, there is a major move to developing the next generation of automated factories under the motto: “Industry 4.0”. This offers very interesting opportunities also for smaller companies to help in the process of moving from analogue to digital technology encompassing, for example, the internet of things and 3D printing.
The fine food and drink market is booming and represents opportunities for expansion to Germany. Germans enjoy food from around the world and are actually one of the most well-travelled nations on earth. They are very open to interesting and exotic foods and drinks and many of the largest fine foods, wine, coffee and tea importers in Europe are based in Germany.
Electronic equipment personal computers, audio equipment, smartphones and television are in high demand in Germany.
Germany is a leading nation in terms of IT technology and electronics. Well known for its high-tech products, there is a big trend to digitize everything analogue and make the transition to a digital world. This presents huge opportunities for smaller companies to provide products and services to support this transition and profit from the demand for innovation in new technology.
Investment in real estate in Germany presents profitable opportunities in the long term. Especially the Rhein-Main area is profiting from many recent developments such as Brexit and also the influx of foreigners requiring new and modern homes. This is resulting in a huge demand for construction projects presenting big opportunities for foreign companies.