The manufacturing production value in Austria has shown varied growth patterns over the past decade. From 2013 to 2016, growth was fairly modest, with year-on-year increases hovering around 0.35% to 0.83%. A significant surge occurred between 2017 and 2018, with growth rates reaching 5.93% and 8.66%, respectively. Post-2018, the growth stabilized until a marked decrease in 2020 by -7.47%, likely due to the pandemic's impact. However, the industry rebounded swiftly in 2021 with a 7.61% increase, followed by moderate growth in the subsequent years. The value stood at 205.71 billion euros in 2023, with a CAGR of 0.98% over the last five years.
From 2024 onwards, forecasted data suggest a steady increase, with the production value projected to reach 224.83 billion euros by 2028. The forecasted 5-year CAGR is 1.41%, indicating a slower but stable growth trajectory compared to previous years.
Future trends to watch for include advancements in automation and digitalization within the manufacturing sector, which could drive efficiency and growth. Additionally, sustainability practices and supply chain resilience will likely play crucial roles in shaping the sector's progress.
