The forecast for gross investment in the manufacture of machinery for the mining, quarrying, and construction sector in the UK suggests a steady upward trend from 2024 to 2028. With values expressed in million pounds sterling, the investment is expected to grow incrementally over this period, reflecting a confidence in sector growth and potential technological advancements. As of 2023, the actual investment value serves as a baseline for this forecasted growth.
The anticipated percentage growth from 2024 to 2028 highlights:
- 2024 to 2025: 3.16% increase
- 2025 to 2026: 2.99% increase
- 2026 to 2027: 2.85% increase
- 2027 to 2028: 2.72% increase
With these year-on-year variations, the compounded annual growth rate (CAGR) over the five-year forecast period is predicted to be around 2.93%.
Future trends to watch for include the potential impact of technological innovations in machinery, shifts in mining and construction techniques, policy changes affecting the sector, and economic conditions that may influence investment capacities and strategic priorities.
