Ever since the discovery of coal in the Rhineland, the Austro-Hungarian Empire began to take advantage of the potential to industrialize. Today the face of manufacturing has changed and so has Austria’s contribution to the manufacturing industry. It remains a strong contender in European and International circles, and Austro-Hungarian products are known for their high quality.
Austria definitely still has a few tricks up it sleeves when it comes to production and manufacturing. And just like in it’s past—steel is a common product manufactured in the region.
Steel is still a big contender
Back in the good ol’ days of coal-energy and production, steel was the Austrian power product. The production of crude steel is still a big deal because of companies like Voestalpine. But the “how” of their production process is what makes this company distinct. Generally, coal is used to create crude steel, reducing the ore to molten metal. Voestalpine creates an alternative method for the production of steal by melting ore using hydrogen, drastically decreasing the CO2 emissions of the company in its manufacturing process. This decarbonization of steel could be revolutionary for the entire industry on a global level and this clever innovation could rocket Voestalpine to the top.
An Automotive-Driven Economy
High-tech manufacturing in the automotive industry has always been a staple of the Austrian production market. Innovation is a key component to automotive production, and the Austrians have completely mastered this skill too. From building Porsche’s, to creating drive systems, the Austrian Automotive industry continues to uphold its long-standing legacy with the international community. Ever since the 1980s, Austria has produced over 2 million cars and invested 8.4 billion euros in the auto industry. Its economy owes a lot to this industry, with annual revenue of 43 billion euros. The automotive industry will continue to grow as well because of Austrian manufacturing’s interest in creating inspirational ideas and technologies.
Adaptability and Innovation Join Efficiency
Austrian Manufacturing isn’t afraid of change. Its flexibility with the market and invention of new technologies gives it a huge edge on its production capacities. The Austrian government backs this effort within the manufacturing industry by creating a research initiative for Austrian producers, investing over 20,000,000 euros annually in development and innovation. Companies like Keisel Electric produce high-performance batteries and alternative charging solutions to maintain a continual creative approach to their area of expertise. They are currently building a new factory, which will open later this year.
It’s clear to see that Austria is a big competitor on the international scene of manufacturing and will continue to hold its prowess over the market for a long time as it drives down the path it has paved for itself.
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