Over the past decade, the turnover in the manufacture of basic iron and steel sector in Italy has seen significant fluctuations. From 2013 to 2023, turnover initially declined, hitting a low in 2016, followed by a period of recovery and stabilization with some volatility. Between 2021 and 2023, there was a modest positive trend with slight year-on-year growth.
As of 2023, the sector stood at 37.07 billion Euros, reflecting a 3.78% year-on-year increase. The last two-year variations show a consistent, albeit modest, upward movement after a dip in 2020. The average annual growth rate (CAGR) over the past five years is -1.44%, indicating recent years' challenges despite short-term improvements.
Looking forward, from 2024 to 2028, forecasts suggest stable growth with a 5-year CAGR of 0.53% and an overall 5-year growth rate of 2.67%. This indicates cautious optimism for the sector's future.
Future trends to watch for include:
- Potential impacts of global steel prices and trade policies.- Technological advancements and innovation in steel production.- Environmental regulations and the shift toward sustainable manufacturing practices.- Changes in domestic demand driven by the construction and automotive industries.
