The production in Italy's Manufacture of Basic Iron and Steel sector stood at 38.43 Billion Euros in 2023. The sector experienced fluctuating trends over the past decade, notably significant drops in 2015 and 2020, and significant gains in 2017. The average year-on-year variation over the last two years shows a positive trend with 4.4% in 2023, following a 6.36% increase in 2022. The five-year CAGR from 2018 to 2023 was about -1.37%, denoting a slight downward trend.
Future forecasts project a modest but steady growth, with production expected to reach 40.36 Billion Euros by 2028, with an average annual growth rate (CAGR) of 0.78%. Long-term progress indicates a 3.96% growth over five years from 2024 to 2028.
Key trends to watch for include potential impacts from technological advancements, policy changes in the steel industry, and economic factors influencing both supply chain dynamics and demand fluctuations in domestic and international markets.
