The forecasted turnover for basic iron, steel, and ferro-alloys in Norway shows a declining trend from 2024 to 2028. The turnover is expected to decrease from 1.25 Billion Euros in 2024 to 1.14 Billion Euros in 2028. This steady decline signifies a year-on-year percentage decrease of approximately 2.4% in 2025, 2.5% in 2026, 2.5% in 2027, and 1.7% in 2028. The Compound Annual Growth Rate (CAGR) over this five-year period is around -2.3%, indicating a consistent annual decrease in value.
Future trends to watch for include:
- Technological advancements in the production processes
- Changes in raw material prices
- Fluctuations in global demand for steel and iron products
- Potential impacts of environmental regulations and sustainability initiatives
