The production value of Petroleum and Natural Gas Extraction Support Activities in Italy has shown significant fluctuations over the past decade. Starting from 2013, a sharp increase in 2014 (242.93%) and 2015 (64.28%) was followed by substantial declines in 2016 (-64.68%) and 2017 (-28.22%). Despite some minor positive changes in 2019 (5.19%) and 2021 (5%), the overall trend has been downward with negative growth in most of the subsequent years. Notably, the production value as of 2023 stands at 341.9 million Euros.
From 2018 to 2023, the average year-on-year variation (CAGR) was -4.82%. Looking ahead, forecasts predict a further decline with an average annual decrease of -12.61%, leading to a significant reduction in value by 2028 (down to 153.47 million Euros).
Future trends to watch for include potential impacts of regulatory changes, environmental policies, and advancements in renewable energy sources which could further affect the sector's production value. Additionally, global market demand and technological innovations in extraction methods will play crucial roles in shaping the industry's future trajectory.
