By analyzing the forecasted data for the UK mining and quarrying turnover from 2024 to 2028, a consistent downward trend is noticeable. The turnover is expected to decline steadily from 32.33 billion Euros in 2024 to 26.02 billion Euros in 2028. Compared with 2023, where the turnover stood at 33.98 billion Euros, there is a discernible annual decrease:
Year-on-year variation percentages:
- 2024: -4.8%
- 2025: -5.04%
- 2026: -5.2%
- 2027: -5.36%
- 2028: -5.57%
The five-year Compound Annual Growth Rate (CAGR), encompassing the period from 2024 to 2028, highlights an average annual decline of about 5.2%.
Future trends to watch for include potential shifts in commodity prices, advances in mining technology, and regulatory changes impacting the mining and quarrying sector. Environmental sustainability practices and global market demand will also play crucial roles in shaping the industry's future dynamics.