Over the last 15 years, the production in the manufacture of domestic appliances sector in Austria has seen a general decline. From 2013 to 2023, production decreased from approximately 881.3 million Euros to 725.2 million Euros, showcasing an overall downward trend. The year-on-year variations highlight periods of both minor recovery and decline. Notably, 2016 to 2020 saw sporadic upturns, with minor increases in 2017 and 2019. However, the last two years, 2022 and 2023, continued their downward trajectory, witnessing a declining year-on-year growth rate of -0.56% and -0.44% respectively.
With the forecast from 2024 to 2028 predicting continuous mild decreases, the sector's Compound Annual Growth Rate (CAGR) over the next 5 years is anticipated to be -0.17%, amounting to a modest reduction in production levels. The forecast suggests a slow but steady decline, with the total production value expected to slightly decrease by 0.84% over this period.
Future trends to watch include potential shifts in technology and manufacturing practices, changes in trade policies, and evolving consumer preferences towards eco-friendly and energy-efficient domestic appliances. Monitoring these changes may provide crucial insights into potential industry revitalizations or further declines.
