The production in the manufacture of lifting and handling equipment sector in Italy stood at 10.01 billion Euros in 2023. From 2013 to 2023, the sector exhibited fluctuating growth with noticeable dips, particularly in 2020 due to external economic pressures. The year-on-year variation over the last two years highlighted slight increases of 1.72% in 2022 and 1.67% in 2023. The compound annual growth rate (CAGR) for the last five years stood at 0.81%. Over the coming years, forecast data predicts a gradual upward trend, with production expected to reach 10.8 billion Euros by 2028, reflecting a forecast 5-year CAGR of 1.21%.
Future trends to watch:
- Advances in automation and robotics are likely to play a crucial role in increasing production efficiency.
- Potential impact of global supply chain adjustments and technological innovation.
- Rising demand for infrastructure and logistic advancements may drive growth within the sector.
