Forecast: Mining and Quarrying Turnover in Norway

Based on the forecasted data, Norway's Mining and Quarrying Turnover is forecasted to decrease from 64.29 Billion Euros in 2024 to 56.8 Billion Euros in 2028. This trend highlights a steady decline in the sector over the five-year period. The year-on-year percentage variation shows a negative growth, with the turnover decreasing at an average compound annual growth rate (CAGR) spanning these years. Specifically, we see the turnover dropping by approximately 2.95% from 2024 to 2025, 3.01% from 2025 to 2026, 3.07% from 2026 to 2027, and finally 3.16% from 2027 to 2028. In 2023, the turnover was 66.23 Billion Euros, indicating a downward trajectory even before the forecast period.

Future trends to watch for:

- Innovation in mining technology and automation could impact operational efficiency.

- Global economic conditions and commodity pricing may influence sector profitability.

- Regulatory changes and environmental sustainability pressures might alter the industry landscape.

- Advancements in alternative resources and energy sectors could dampen demand for traditional quarry materials.