In 2023, the UK sold production of machine tools for working wood, cork, bone, hard rubber, hard plastics, or similar hard materials was at 25,000 items. From 2024 onwards, a consistent growth trend is observed with forecasted increases each year. Specifically, a year-on-year growth of 5.26% is projected from 2024 to 2025, followed by an increase of 4.90% in 2026, 4.56% in 2027, and 4.27% in 2028. The projected compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is expected to average around 4.72%.

Future trends to watch for in this market include:

Technological advancements in machine tool manufacturing which could enhance productivity and efficiency.
Potential impacts from regulatory changes affecting manufacturing practices and materials used in machine tools.
Fluctuations in raw material costs as they could affect production costs and pricing strategies.