In 2023, the production level of numerical control panels for voltages exceeding 72.5 kV in the UK stood at 8.5 million Euros. The forecast for 2024 marks a decline to 7.34 million Euros, indicating a nearly 13.65% year-on-year decrease. The downward trend is set to continue, with the production value expected to drop by 11.5% to 6.49 million Euros in 2025 and by 12.7% to 5.67 million Euros in 2026. The following years show further reductions: 4.85 million Euros in 2027 (a 14.3% decrease) and 4.06 million Euros in 2028 (a 16.4% decrease). Over the five-year period, the compound annual growth rate (CAGR) is projected at -15.55%.
Future trends to monitor include:
- The impact of technological advancements on production efficiencies and cost reduction in control panel manufacturing.
- Potential policy changes and regulations affecting the energy and electrical equipment sector in the UK.
- Shifts in market demand for high voltage equipment, potentially influenced by the UK's energy transition efforts.
- The effect of competing global suppliers benefiting from economies of scale and possibly affecting local production volumes.
