Page 16 - ITAtube Journal 2/2019

VOSCO Management Consultancy
Dr. Gunther Voswinckel
Scharnhorststrasse 45 41063 Mönchengladbach Germany
Tel.: +49 2161 309 255 Fax: +49 2161 912 520
contact@vosco.net www.vosco.net
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Market information
Figure 20: Regional Steel Tube and Pipe Production > 406 mm (ktons) Source: ITATube Journal/Wirtschaftsvereinigung Stahlrohre e.V.
productivity and reduce produc- tion costs. New information tech- nologies, such as “Industry 4.0”, also known as the “Internet of Things”, can provide interesting opportunities for the establish- ment of sustainable future busi- ness. Such agile optimization processes may even open up new ways of dealing with the fast-var- ying demands tube producers are facing.
Plant builders as well as technol- ogy suppliers may nd interesting business opportunities in this new market segment. Some technology suppliers have already reacted and expanded their product portfolio to include digital solutions.
production facilities with a ques- tionable economic future.
Still, despite the remarkable boom in the US, globalization into markets with increased demand remains one of the key answers. The Middle East and locations with major oil and gas exploration as well as automotive production, mechanical engineering and con- struction industries are to be con- sidered. Besides this, shale gas exploration, deep-sea offshore exploration and oil sand explora- tion remain major challenges to our industry.
Price competition from low cost countries demands further spe- cialization in high-tech products for higher cost countries. Produc- ers seem to have evaluated their market approach and decided to specialize and serve commodities or high-tech products even if they only represent niches, depending on their capabilities. Some coun- tries/regions have also installed trade barriers to control imports from other countries.
Finally, every producer should make permanent improvements to satisfy customer needs, increase
Figure 21: Currency Exchange Rates as per 14th April 2019 Source: Finance.net
ITAtube Journal No2/May 2019