Deutsche Messe AG has made the decision to postpone the HANNOVER MESSE 2020 event in response to global developments related to the Coronavirus.
The new dates will be in the week of 13 to 17 July.
Hannover. Deutsche Messe made the decision to postpone in close cooperation with the Hannover Region Health Authority, the HANNOVER MESSE Exhibitors’ Council and the partner associations VDMA (German Engineering Federation) and ZVEI (German Electrical and Electronic Manufacturers’ Association).
“In view of the global economic challenges triggered by the Coronavirus in the first half of the year, the new date offers great opportunities. Thus the world’s most important industrial trade fair can provide important impetus for the global economy at an early stage,” says Dr. Jochen Köckler, chairman of the Board of Management of Deutsche Messe AG.
Greater economic impacts
According to the New York Times, the economic effects of the coronavirus have preceded the spread of the virus itself, with financial markets in a state of flux, companies closing offices or asking employees work from home in affected areas, and stifling air travel across the globe.
OPEC countries have now called for a deep production cut of 1.5 million barrels per day to support prices that are dropping due to the spread of the virus. Despite the proposed cut, crude prices continued to decline, falling 24 per cent this year.
China’s manufacturing activities have slowed dramatically as cities with millions of residents function under lock-down to contain the spread of the virus.
Production delays for both wind turbines and solar panels will be felt throughout the year, impacting supply chains and order fulfilment. In addition, it is anticipated that the impact on China’s residential renewable market will be significant, with Wood Mackenzie anticipating a decrease of as much as 50 percent in turbine installations in that country. For more on the virus’s impact on the energy sector, click here.