Lambretta scooters are fashion icons .
MADE IN ITALY
We highlight manufacturing and machine tool trends , as well as macro-economic forecasts , for Italy .
According to the OECD ’ s Economic Outlook ( 2 May 2024 ), Italy ’ s GDP is expected to grow by 0.7 % in 2024 and 1.2 % in 2025 .”
Italy , in southern Europe , is rich in art and culture . It comprises the bootshaped Italian peninsula and a number of islands including Sicily and Sardinia .
The Italian manufacturing sector is critical to its economy , with its strong global brand and reputation . It mostly includes small and medium enterprises with less than ten employees as well as global OEMS . The manufacturing sector has taken advantage of the technological transformations in the industry due to the Industry-4.0 revolution . The Italian government has offered strong tax incentives in the past to encourage manufacturers to embrace digitalisation .
“ Italy ’ s most significant industry is manufacturing , making up 88 % of all production . Manufacturing is made up of the following major subsectors : metallurgy and fabricated metal products ( 14 % of total production ); machinery and equipment ( 12 %); food , alcohol and tobacco ( 10 %); rubber and plastics products and non-metallic mineral products ( 9 %); textile , clothing and leather ( 8 %); transport equipment ( 7 %) and other manufacturing , repair and installation of machinery and equipment ( 13 %),” explained analyst , Mordor Intelligence .
Machinery and equipment
Italy ’ s machinery and equipment industry also plays a key role in supporting other manufacturing subsectors , domestically and globally . It has a high degree of export orientation . The manufacturing sector is highly fragmented , with SMEs dominating machinery and equipment production . There is also a high degree of fragmentation in the supply chains of large companies in food production equipment , packing equipment , construction equipment and metallurgical machinery .
“ The Italian metal fabrication equipment market is fragmented and highly competitive , where manufacturers are increasingly looking to embrace digital technology trends to automate fabricating processes . Continuous and rigorous innovation is therefore driving companies to
30 | ismr . net | ISMR June 2024