The UK Manufacture of Steam Generators sector, excluding central heating boilers, is projected to face a declining trend in workforce from 2024 to 2028. The number of employees is expected to decrease year-over-year, with a drop of approximately 3.1% annually, resulting in a compound annual growth rate (CAGR) of -3.1% over the five-year forecast period. This consistent decline indicates potential industry contraction or increased efficiency leading to less labor demand.
Future trends to watch for include:
- Technological advancements leading to further automation and efficiency gains.
- Potential shifts in energy policy impacting sector demand.
- Market diversification or adaptation strategies within companies to address workforce changes.