The Metal Forming Machinery and Machine Tools sector in the UK experienced fluctuations in workloads from 2013 to 2023. In 2023, it stood at 11.612 million hours worked, with a consistent decrease over the years. Significant drops were noted in 2018 with a -17.74% and from 2020 onward, marked by an annual decline around -2.7%. Over the last five years, the sector exhibited an average yearly decline (CAGR) of -1.45%.
Projected trends from 2024 to 2028 suggest a continued decline, with a forecasted CAGR of -2.54%, culminating in a -12.08% decrease by 2028.
Future trends to watch include the impact of automation, technological advancements, and economic factors, which could further influence the workload dynamics in this sector.
