Hides, Skins or Leather Working or Footwear Making or Repairing Machinery Market Size Value in Portugal

The market size for Hides, Skins, or Leather Working and Footwear Making or Repairing Machinery in Portugal showed a fluctuating trend over the past decade, standing at 16.153 Million Euros in 2023. The initial period up to 2018 exhibited growth, with notable double-digit year-on-year increases up to 2015. However, the market faced a downturn starting in 2019, seeing variations like an 11.4% decline in 2020 and 8.65% in 2023. The compound annual growth rate (CAGR) over the past five years was -6.45%, indicating a declining market trend.

Future trends to watch include:

  • Adoption of advanced manufacturing technologies to improve efficiency.
  • Sustainability trends influencing material sourcing and machinery innovations.
  • Potential market recovery as global footwear demand stabilizes post-pandemic.
  • Government and EU policies impacting the leather and footwear industries.

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