Over the past decade, the mining and quarrying turnover in Denmark has experienced a consistent downward trend, with turnover values decreasing significantly from 7.58 billion Euros in 2013 to 2.75 billion Euros in 2023. The market has seen occasional upticks, such as in 2017 (an increase of 13.93%) and 2021 (an increase of 24.51%), but these were short-lived. Year-on-year variations show a generally negative trend, emphasizing the volatility and decline of this sector. The CAGR over the last five years has been -8.56%, illustrating the persistent contraction of the industry.
Looking forward to forecasted data from 2024 onwards, the decline in turnover is expected to continue, with an anticipated decrease to 1.08 billion Euros by 2028. The forecasted 5-year CAGR stands at -14.78%, projecting a further shrinkage in the sector. The key trends over the next five years indicate a significant decrease, with an overall reduction of 55.04% by 2028.
Future trends to watch for include:
- Technological advancements and automation within the industry that may boost productivity but potentially reduce employment.
- Environmental regulations and sustainability initiatives influencing operational practices and possibly increasing costs.
- Global economic factors and commodity market fluctuations that could impact demand and profitability.