The industrial machinery value added in the UK experienced fluctuating growth from 2013 to 2018, peaking in 2014 at 34.93 units, before seeing a steady decline. The value dropped from 32.03 in 2019 to 27.67 in 2023. Year-on-year variation highlighted significant downturns in 2019 and 2020, with CAGR falling progressively over the past years, indicating a negative growth trend.
From 2024 onwards, forecasts predict a continued decline in industrial machinery value added, projecting a decrease to 26.06 by 2028. The forecasted 5-year CAGR is -0.85%, with an average annual growth rate projected at -4.18%.
Future trends to watch for include:
• Technological advancements influencing more efficient production processes
• Shifts in global trade policies affecting export and import demand
• The impact of sustainability initiatives and green manufacturing practices on the industrial machinery segment
