The production in the manufacture of basic iron and steel sector in Germany is predicted to gradually decline from 2024 to 2028. The forecasted values show an annual decrease in production value, with the year-on-year reduction consistent around 1.4% to 1.6%. In 2023, the sector stood at 45.10 Billion Euros, reflecting a notable downward trend. The compound annual growth rate (CAGR) over the forecasted period is approximately -1.36%, indicating a modest average annual decline.
Future trends to watch include:
- Technological advancements and automation in steel manufacturing.
- Impact of environmental regulations on production processes.
- Global steel demand fluctuations, especially from major importers like China and the US.
- Potential increases in production costs due to energy price volatility.