The Footwear Making or Repairing or Leather Cutting, Perforating and Pricking Machinery market in Portugal experienced substantial fluctuations between 2013 and 2023. In 2013, the market value was €12.522 million, peaking at €14.337 million in 2016, followed by a notable decline, reaching €9.0977 million in 2023. The key insights are:
- Significant volatility with a peak at €14.337 million in 2016.
- Continuous decline from 2018 to 2023, with a 3.5% decrease in 2023.
- The last five-year CAGR indicates an annual average decline of 6.92%.
Future trends to watch:
- Technological advancements could alter production processes, potentially revitalizing the market.
- Shifting consumer preferences towards sustainable practices could drive innovation and demand.
- Economic conditions and supply chain stability will be crucial indicators for market recovery potential.