The biggest and most important industry fair in the Baltics!

From 28 till 30 November Ķīpsala Exhibition Centre will host the Tech Industry international trade fair, which has been one of the main engineering industry events in the Baltic region for the past five years. The 2024 edition of Tech Industry will bring together 253 companies from 18 countries, welcoming at least 18,000 professionals from across the globe to learn about the latest innovations in engineering and metalworking. Held alongside the main event, the Tech Industry Business and Innovation Forum will focus on what Latvian manufacturers have to offer to export markets and their ability to manufacture products with a high added value.

Over the past several decades, the engineering and metalworking industry in Latvia has seen major development. The total turnover of the sector has increased from EUR 385 million in 2000 to EUR 2.7 billion in 2023. During the same period, exports grew from EUR 272 million to EUR 2.1 billion thus attesting to the significant role of the industry within Latvia’s economy. Development surged from 2016 to 2023 during which time average annual growth rates were routinely in the double digits. More than 80% of products manufactured in Latvia are exported to 100 countries around the world, with the main export markets being in Europe, especially the Nordic countries: Sweden, Norway, Finland, and Denmark, as well as the heart of European mechanical engineering – Germany.

Toms Grīnfelds, Chair of the Board of the Association of Mechanical Engineering and Metalworking Industries of Latvia, notes that about one third of companies working in the industry have integrated into international supply chains and are supplying components and intermediates to various industrial sectors. The ability to adapt to the specific needs of every customer and create unique, customised solutions is the main advantage that Latvian companies possess, according to the head of the Association.

Products with a high added value
Latvian engineering and metalworking companies are notable for their high level of innovation, which often goes hand in hand with the development of high value-added products. Statistics compiled by the Association show that approximately one third of companies active in the industry are focusing on developing unique products that provide them with a competitive advantage on the international stage. This strategy allows them to secure their standing not only as suppliers of intermediates, but also as major players in the development of innovative technologies.

Mr Grīnfelds highlights that investments in new technology, automation and artificial intelligence solutions help raise the efficiency and competitiveness of companies in the industry. On the one hand, companies invest in automation and digital solutions to raise their productivity. But at the same time, many companies are also investing in research and new product design thus bringing to market new products and technologies that promote process automation, reduce energy consumption and environmental impact for customers in many sectors by providing them with, for example, state-of-the-art wood processing equipment, unique solutions for the energy sector and even military technologies.

Baltic leaders in manufacturing of machine vision equipment
One of the main leaders in innovations is Latvian company ZippyVision which builds scanners and other machine vision equipment. These devices measure and optimize timber processing according to various parameters, can detect the slightest defects in timber which would likely remain unnoticed to the human eye, offer the best sawing solutions to reduce waste, and can, where necessary, efficiently replace human input at various stages of timber processing and production. The company has been working in the industry since 2017, and it stands without competition in the Baltics in the production of high-tech machine vision systems “Thanks to these innovative solutions developed by the company’s team of engineers and mathematicians, Zippy Vision is successfully competing on the global market with major players that have been in woodworking for decades,” Gundars Kuļikovskis, co-owner of the company, explains the strong points of the company’s exports.

Military industry and international projects
In recent years, the military industry has taken on a significant role in the development of the engineering and metalworking industry. Latvian companies offer drone technologies, modern solutions for the defence sector and energy efficient equipment that is highly appreciated also in foreign markets. For example, steelworks company SFM Latvia is now supplying under-carriages for Patria 6x6 armoured vehicles to the Finland-based international defence and tech company Patria. SFM Latvia is also supplying parts for other projects, such as 8x8 armoured vehicles, and the defence industry currently accounts for about 30% of the company’s turnover.

Achievements in process engineering
Even though 80% of the production of the mechanical engineering and metalworking industry is exported abroad, the sector is equally focused on the local market and the Baltic State region. For example, process engineering and industrial equipment design and manufacturing company PERUZA boasts extensive experience in the food processing sector with their equipment found at such well-known companies in Latvia as Balticovo, Latvijas Balzams and Food Union where PERUZA has successfully outcompeted foreign equipment providers.

Expo and forum at Ķīpsala to bring together industry specialists from 25 countries!
For three days, at Tech Industry 2024 in Ķīpsala leading equipment manufacturers from around Europe and the world will demonstrate their latest metalworking and industrial equipment, mechanical engineering and welding equipment, electrical tools, air flow technologies and hydro-technologies.

In parallel to the expo, the Tech Industry Business and Innovation Forum will be held, co-organised by the Investment and Development Agency of Latvia, the Association of Mechanical Engineering and Metalworking Industries of Latvia and International Expo Company BT1.

An International Engineering Conference will be held on 28 November where mechanical engineering experts from various countries will discuss the future development trends and challenges for the sector. In turn, various sectoral competence centres from Latvia will showcase their innovations from automated solutions for wind park management to adapting 3D printing technologies for aviation production. Registration for the conference is open until 27 November at www.techindustry.lv/en/forum-registration

On 29 November, an international buyers B2B matchmaking event will be held bringing together developers, manufacturers, suppliers, potential customers, and partners to establish new international partnerships. So far, 70 Latvian manufacturers and 51 foreign businesses from Austria, Denmark, Finland, Germany, Italy, North Macedonia, Spain, Sweden, Ukraine, and the USA have confirmed their participation at the matchmaking event. Registration for the matchmaking event is available here: https://ej.uz/TechIndustry_B2B

For a detailed programme of the Tech Industry 2024 events, visit www.techindustry.lv/en/events