From 2013 to 2022, the sector has seen significant fluctuations with peak growth in 2019 (32.07%) and a notable decline in 2020 (-14.22%). The Compound Annual Growth Rate (CAGR) for the last five years sits at 1.99%. Future projections show a steady increase, with 2028 forecasted at 83.358 billion Euros.
Future Trends: Key trends to monitor include technological advancements in manufacturing, shifts in global supply chains, and evolving regulatory standards within the European Union, which will impact production capacities and demand in the sector.
