From 2012 to 2022, Italy's Lifting and Handling Equipment Manufacturing market saw a significant value increase from 3.2081 billion euros to 6.7017 billion euros. The sector experienced declines in the early 2010s, with 2013 and 2014 facing contractions of 5.85% and 6.21%, respectively. Nevertheless, a substantial rebound occurred in 2015 with a growth of 34.05%, followed by a consistent upward trajectory in subsequent years. Particularly notable growth rates were 20.86% in 2016 and 9.46% in 2017. The average annual increase in market size (CAGR) between 2017 and 2022 was 12.56%, despite a slight deceleration to a 1.31% increase in 2022.
Lastly, year-on-year growth in the most recent two years under review (2021 and 2022) showed a stabilization trend capturing increases of 8.77% and 1.31%, respectively. Over the last five years, the market has averaged a 5.93% annual growth rate.
Looking ahead to 2024 and beyond, expect the lifting and handling equipment market to focus on technological advancements such as automation and AI to drive further efficiencies. Monitoring supply chain disruptions and their impact on production will also be essential, as will keeping an eye on regulatory changes in environmental standards that could affect manufacturing processes and costs.
How does Italy rank in Lifting and Handling Equipment Manufacturing Market Size Value?
| # | 11 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 12,422,000,000 | 2023 | +3.89% | +3.17% | View data |
| 2 | 2 France | 7,084,600,000 | 2023 | +2.71% | +3.44% | View data |
| 3 | 3 Italy | 6,967,600,000 | 2023 | +2.59% | +5.01% | |
| 4 | 4 Spain | 4,368,500,000 | 2023 | +5.08% | +4.66% | View data |
| 5 | 5 United Kingdom | 3,743,200,000 | 2023 | +1.42% | +2.03% | View data |
