MARKET INSIGHT | ITALY
projects. Although a 90-day pause has been granted for some tariffs, Italian exports to the US are still subject to the 10% base tariff, and the full 20% rate could return after the pause, adding further uncertainty for Italian exporters and developers. The Italian construction industry is expected
to recover in 2027, however, and record an average annual growth of 1.4% between
Italy – Construction output (Real % change), 2023–2029
10% 5% 0% -5% -10%
2023 2024 2025 2026 Western Europe Italy
Italy – Construction output by sector (Real % change), 2023–2025 and 2026–2029
8% 6% 4% 2% 0%
Commercial Industrial Infrastructure
Energy and utilities
2023–2025 2026–2029
Italy – Industrial construction output by project type (Real % change), 2020–2029
Country
Chemical and pharmaceutical plants
Manufacturing plants
Metal and material production and processing plants
Waste processing plants Total
30 | October 2025 |
www.hoistmagazine.com
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 -11.5 12.9
-8.6 14.3 -11.6 13.0 -9.6 13.8 -10.3 13.6
7.2 4.5 5.7 8.2 6.2
11.0 -2.4 13.2
0.6
11.7 -1.9 11.3 -5.5 11.9 -2.0
-3.5 -5.2 -3.8 -1.9 -3.8
0.4 0.9
-1.6 -5.3 -1.1
2.4 1.5 2.2 4.8 2.5
2.5 2.9 2.0 2.0 2.4
2.7 2.9 1.6 2.2 2.4
Institutional Residential 2027 2028 2029
2027 and 2029, supported by investments in renewable energy and transport infrastructure. Growth will be driven by the government’s aim to increase the share of renewable energy in the total power mix from 18.5% in 2022 to 59% in 2030. In line with this, in March 2025, the national transmission grid operator, Terna, revealed its plans to invest €23.5bn ($25.6bn) from 2025 to 2034 to boost energy capacity in
the country. Growth over the forecasted period will also be supported by the government- owned railway company Rete Ferroviaria Italiana’s (FS Group) plan, announced in December 2024, to invest €100bn ($109bn) to develop the overall railway infrastructure in the country from 2025 to 2029. In another boost to the Italian construction industry’s output, a comprehensive strategic partnership
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