The production in the Mining and Quarrying sector in Austria showed considerable fluctuations from 2013 to 2023. The lowest value was recorded in 2020 at 1.95 billion Euros due to economic challenges, while 2023 saw a recovery to 2.41 billion Euros, marking a 4.52% year-on-year increase. Over the last two years, the sector experienced moderate growth, following a CAGR of -0.51% which reflects the sector's volatility and periods of decline.
Future projections indicate steady growth with values expected to reach 2.57 billion Euros by 2028. The forecasted 5-year CAGR stands at 0.99%, suggesting consistent, albeit slow, growth. Key trends to watch include technological advancements, regulatory changes, and economic conditions that may significantly impact production levels in the coming years. The overall growth rate for the next five years is anticipated to be 5.03%, indicating a positive trajectory for the sector.
- Technological advancements could drive efficiency and production.
- Regulatory changes may pose challenges or opportunities.
- Economic conditions and raw material demand will be critical factors.