The actual data from 2013 to 2023 for hours worked in plumbing, heat, and air conditioning installation in Italy indicates a fluctuating trend with an overall decreasing tendency. Starting at 172.66 million hours in 2013, the value decreased consistently, dropping to 156.61 million hours in 2023, marking a year-on-year decrease of 2.85%. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 is -2.09%.
The forecasted data from 2024 to 2028 shows a continued declining trend, with hours worked expected to reduce to 134.35 million hours by 2028. The forecasted 5-year CAGR from 2024 to 2028 stands at -2.45%, implying an average annual decrease, and a total reduction of 11.65% over the five years.
Future trends to watch for include:
- The impact of technological advancements and automation in reducing manual labor hours.
- Environmental regulations and energy efficiency policies influencing the scope and nature of work in the sector.
- Potential economic factors that could either compound the decline or offer periods of recovery.
- The effect of training and education on the supply of skilled labor in the industry.
