The manufacture of lifting and handling equipment sector in Austria showed significant fluctuations from 2013 to 2023. Beginning at €3.34 billion in 2013, it saw peaks and troughs, including a substantial rise in 2018 to €4.9 billion. By 2023, it stood at €5.44 billion. Year-on-year variations ranged from a significant drop of -10.46% in 2016 to an impressive growth of 40.94% in 2018. Over the last five years, the compound annual growth rate (CAGR) averaged 2.14%, reflecting moderate growth.
Future projections suggest a continued upward trend, with the forecasted value reaching €6.18 billion in 2028, reflecting a forecasted 5-year CAGR of 2.01% and a total 5-year growth rate of 10.45%. Key factors to watch for include technological advancements, supply chain dynamics, and shifts in demand influenced by economic conditions and regulations.
Trends to watch for:
- Technological innovations and their impact on productivity and costs.
- Supply chain resiliency and adaptation.
- Economic policies and their influence on manufacturing investment.
- Shifts in global and local demand for lifting and handling equipment.