In 2023, the value of imports of non-numerically controlled machine tools for bending, folding, shearing, or pressing metal into the UK stood at a substantial level. Forecasts for 2024 to 2028 show a steady upward trend, with incremental increases each year, reflecting a growing demand in this sector. Specifically, from 2024 to 2028, the value is expected to rise from 256.4 thousand to 269.14 thousand, representing consistent growth across the forecasted period.
Year-on-year growth percentages are modest but positive, indicating a stable market environment. The compound annual growth rate (CAGR) analysis over the last five years emphasizes a gradual increase.
Future trends to watch include technological advancements in alternative methods of metal working, changes in trade policies post-Brexit, and potential fluctuations in raw material prices that could influence import volumes and values. An increase in automation and efficiency within the manufacturing sector could also impact the demand for these specific machine tools.
