The process industry is currently facing the challenges of intensified global competition, increasing volatilities of markets, increasing product variety and shorter product life cycles. Against this background, transformable production concepts with their modular composition promise better adjustment to these dynamic conditions in the dimensions product quantity, product variety and location of production. Additionally planning and development times shall be reduced with these concepts. This contribution gives an overview over the state of the art of these production concepts and discusses chances and risks. Thereby, all levels from apparatuses and plants to logistics and business models are considered.