Italian Machines Tool Industry in 2024

In 2024, the world economy grew at a pace similar to that of previous years: global GDP rose again by +3.1%. The growth was modest in the industrialized countries (+1.6%), while in emerging markets it grew at a good pace (+4%).

2024 was a positive year for international trade: after falling back by 0.9% in 2023, it grew again during the current year (+2.3%). The recovery concerned both raw materials and manufactured goods. This means that, in 2024, foreign trade returned to make a strong positive contribution to the world economies, adding to the growth of domestic demand.

In 2024, the Italian economy grew by only 0.7%, in line with the average of the Euro Zone. The quarterly analysis of GDP trend changes shows a very weak first quarter (+0.3%), then a continuation at less subdued rates: +0.6% in each of the following quarters.

Compared to the previous year, total investment grew very modestly (+0.5%). In particular, in 2024, investment in machinery and equipment decreased (-2.6%), while construction still performed well (+2.6%). Household consumption was not very dynamic (+0.6%), as well as public expenditure (+0.5%).

With reference to the world’s machine tool industry, Italy came in fifth place in the ranking of production and in fourth in that of exports and consumption.

In 2024, the Italian production of machine tools, robots and automation stood at 6,327 million euros, recording a decrease of 16.9% compared to 2023.

Consumption fell by 36.3% to 3,707 million, as a result of the contraction in both domestic deliveries (-39.5%, 2,054 million) and imports (-31.8%, 1,653 million).

The market share covered by foreign machinery was 44.6%. Exports increased slightly, reaching 4,273 million euros in 2024, 1.2% more than the previous year. The export-to-production ratio rose from 55.5% in 2023 to 67.5% in 2024.

The trade balance increased by 45.7% to EUR 2,620 million. These results were reflected in the utilization of production capacity, whose annual average decreased from 86.2% in 2023 to 77.3% in 2024. The order book also declined, reaching 6.5 months of insured production, compared to 7.3 months in the previous year. Machine prices rose by 0.6% compared to the previous year.