ITALY FASTENER MARKET - FASTENER EUROPE MAGAZINE
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ITALY FASTENER MARKET

GDP (Million $) – 2.328.028 
GDP Per Capita ($) – 39.580
Growth Rate (%) – 0,7 
Population – 58.819.000
Total Area (km2) – 301.338
Capital – Rome
Source: IMF, April 2024


Italy, the 4th largest economy in Europe and the 8th largest in the world, is a founding member of the European Union. The country is also included in the group of industrialized countries called the G8, along with the United States, Germany, the United Kingdom, France, Canada, Japan, and Russia. 

The manufacturing sector is very strong in the Italian economy. The country has been the 2nd largest producer in Europe and the 6th largest producer in the world for the last 30 years in the manufacturing sector, and the 5th country in the world with a trade surplus in manufacturing sector exports. The main industries include automotive, shipbuilding, chemicals, furniture, clothing and textiles, leather goods and footwear, food processing, ceramic products, parts and machinery. 

Today, there are more than 200 industrial zones in Italy. The country has a diverse export structure, and global competitiveness, know-how superiority and innovation in major sectors have created the "Made in Italy" brand.

FOREIGN TRADE
Looking at Italy's exports, it is seen that there are mainly products that require medium-level technology such as machinery, transportation equipment, metals and chemicals. Although the share of EU member states in exports has been declining since 2001, this rate is still over 50%. Germany ranks first in Italy's exports. 

The country's import items are crude oil, petroleum oils and gases, automotive and auto sub-industry products, chemicals, pharmaceuticals, minerals and non-ferrous metals, machinery and equipment. The share of EU countries in Italy's imports is around 60%. Germany also ranks first in Italy's imports.

INDUSTRY
There are 511,747 companies operating in the manufacturing industry sector in Italy. When mining, energy supply companies and water supply companies are included in the industrial sector, this figure reaches 540,757 thousand. According to the data of the Italian Chambers of Commerce (Movimprese), the number of active companies established in Italy is 5,097,617 and this number increased by 0.82% compared to the previous year. 

Italy is the second industrial country in Europe with strategic and diversified sectors such as machinery-equipment, fashion products, food, automotive and pharmaceuticals. The industrial sector, which represents 16.5% of Italian GDP as of 2023, is highly export-oriented. Overall industrial production in 2023 closed with a year-on-year decline of 2.5%; The calendar-adjusted index trend has been negative in almost all months of 2023. According to calendar-adjusted data, mining sector activities decreased by 4.7% in 2023 compared to the previous year, while the manufacturing sector decreased by 2.2% and electricity, natural gas, steam and other air distribution activities decreased by 5.8%.

MACHINERY INDUSTRY
Italy is a net exporter in the machinery sector. Looking at the world's leading machinery exporting countries and market shares in 2023, it is seen that Italy ranks 5th with a share of 5.7%. The top three are China (18.3%), Germany (12.6%) and the United States (10.3%). According to 2023 data, exports of the machinery industry sector amounted to 101.1 billion euros and imports amounted to 42.8 billion euros. 

In Italy's machinery sector exports, the weight of Europe (56.6%) is again seen, followed by the continents of America (20.2%) and Asia (17%), respectively. In terms of imports, Europe (72.2%), Asia (21.8%) and America (5.5%) stand out. 

When the exports of 2023 are examined on a product basis; lifting and conveying machinery and equipment (8.8%), other taps and valves (7%), other pumps and compressors (7.2%) are in the first place. When the import data for 2022 are examined on a product basis, non-household cooling and ventilation equipment; stationary household air conditioners (11.1%), other pumps and compressors (8%), internal combustion engines (including parts and accessories and excluding engines for road transport and aircraft) (7.6%) and other mining, quarrying and construction machinery (including components and parts) (7.3%). 

Closing 2022 with a record turnover of 55.4 billion euros with an increase of 10.7%, Italian machinery industrialists increased by 2.8% to approximately 56.9 billion euros in revenue in 2023. While exports increased (up 5.1% to 37.4 billion euros), revenues (turnover) fell by 1.5% to 19.5 billion euros in the domestic market. 

In the machinery sector, names such as Ima, Coesia, Marchesini, Biesse, Cama, Camozzi, Prima Industrie, Salvagnini, Breton constitute the main pillars of the Italian machinery industry. Despite the crises, the machinery sector continues to give good results. New service-based business models and adaptation to green and digital transformation are important over competition in the sector.

AEROSPACE INDUSTRY
Italy has a rich tradition in the aerospace industry. It boasts a thriving aerospace ecosystem that combines cutting-edge technology with a deep-rooted passion for exploration and discovery. Italy ranks third in the EU for the number of companies and employees. What sets Italy apart is its comprehensive aerospace value chain, encompassing design services, aircraft systems, engine production, component manufacturing, assembly, maintenance, and support services.

Italy ranks 3rd in the EU by number of companies and employees in the sector. The Italian aerospace industry comprises 198 aerospace companies, including large system integrators, SMEs, and start-ups, ranking third in the EU for both the number of companies and employees, with over 49,000 persons employed. 

It is the 3rd country that contributes the most to the European Space Agency budget. As one of the founders of ESA, Italy is also the third largest contributor to its budget. For 2024, Italy's contribution amounts to 881.2 million euros, which represents 17% of the total budget. Furthermore, Italy, along with its companies, actively participates in a wide range of ESA missions and programs.

Italian companies, universities, and research centres actively participate in national and international research programs. Italy ranks 3rd in the EU and 7th worldwide by number of citations in Aerospace Engineering (227,000 citations from 1996 to 2022). It also ranks 3rd in the EU and 5th worldwide in Space and Planetary science (1,650,000 citations from 1996 to 2022). 

Italy is the ideal destination for foreign aerospace companies and investors. It offers a robust industrial base, the presence of key industry players, reliable suppliers, and potential industrial partners. Italy boasts a high level of research and development, a skilled workforce, and unparalleled research and testing infrastructure.

Many foreign companies have already recognised the potential of Italy for their business activities and partnerships, such as Airbus, Dassault Systems, OHB Italy, Nanoracks, and Terran Orbital.
Source: www.investinitaly.gov.it 

AUTOMOTIVE INDUSTRY
The Italian automotive industry stands as a prominent player on the European stage, holding the sixth position globally in production volume. In 2022 alone, it churned out 796,394 vehicles, constituting 1% of the world's total production. Of these, passenger vehicles accounted for 60%, commercial vehicles for 40%, and buses a mere 0.1%. 

Despite a slight decline in the production of light vehicles to 770,000 in 2023, projections suggest a rebound to 870,000 by the decade's end. Notably, Iveco commands a staggering 90% share of the heavy vehicle market in Italy, particularly in truck production. 

In 2023, the light commercial vehicle market marks a growth of 22.5% with 195,618 license plates. If compared with the same period of 2021, growth is 6.7%.
Registrations for the heavy truck market in FY 2023 are 28,623, an increase of 11.4%. Compared to the same period in 2021, growth was +13%.

For the sector of towed vehicles (trailers and semi-trailers) with gross vehicle weight greater than 3,500 kg the balance is negative with a 7.9% drop in registrations and closes with 15,533 vehicles. Compared to the same period of 2021, the registration of new passbooks is +2.7%.

The bus sector recorded the highest growth in 2023 with +55.9% and 5,140 new vehicles. The increase in registrations is thanks to the funds of the PNRR, the Complementary Fund for mobility and the National Strategic Plan for Sustainable Mobility and the various local funds. The highest registrations of the last 20 years have been recorded in this market.
Source: www.anfia.it  

IRON AND STEEL INDUSTRY
Italy's iron and steel industry in 2024 is valued at approximately €35.3 billion. The sector has seen a decline in recent years, with the market size shrinking at a compound annual growth rate (CAGR) of 2.6% from 2019 to 2024. However, there are signs of growth expected over the next five years.

Key players in Italy's iron and steel manufacturing include major global companies like ArcelorMittal SA, Voestalpine AG, and Thyssenkrupp Steel Europe AG. These companies have a significant share of the market, with ArcelorMittal being the largest by a considerable margin.

In terms of production, Italy experienced a sharp decrease in output in 2024. Steel production in August 2024 dropped by 54.7% compared to July, producing 764,000 tons. This decline is attributed to various factors, including reduced global demand and high energy costs. For the January-August 2024 period, Italy produced 13.3 million tons of steel, down by 5.2% year-on-year.

Despite these challenges, the industry remains crucial to Italy’s economy, with over 1,800 businesses operating in the sector. The long-term outlook suggests potential recovery and growth, supported by both domestic and international demand. 

FASTENER INDUSTRY
The Italian fastener sector in 2024 remains a crucial part of the country's industrial landscape, especially in sectors such as automotive, aerospace, construction, and mechanical engineering. The market has experienced steady growth, with projections of a 2.3% annual increase from 2020 to 2025, highlighting the resilience and importance of this industry within Italy’s manufacturing base.

A major event for the industry is Fastener Fair Italy, scheduled for October 29-30, 2024, at the MiCo Milano Convention Centre. This biennial event serves as a key platform for manufacturers, distributors, and suppliers to showcase new technologies, products, and innovations. The fair will attract visitors from various sectors, including construction, automotive, aerospace, and energy, making it an essential networking hub for industry professionals.

With over 10 conference sessions and numerous exhibitor presentations, Fastener Fair Italy is recognized as a leading trade show for the fastener and fixing sector in Europe.