The installation of industrial machinery and equipment turnover in the UK experienced notable fluctuations from 2013 to 2023. Following peaks in 2015 and 2016, the sector saw a significant decline in 2017, followed by a period of relative stability with slight negative growth till 2023. Notably, in 2023, the turnover stood at 3.37 billion euros.
Year-on-year variations show a dramatic drop of 29.04% in 2017, with subsequent years generally seeing moderate declines. The five-year compound annual growth rate (CAGR) turned negative post-2017, reflecting a longer-term downtrend, rebounding slightly by 2023 with a CAGR of 0.77%.
Future trends to watch for:
- Adoption of automation and advanced manufacturing technologies.
- Shifts in regulatory standards impacting machinery installation requirements.
- Economic variables influencing capital expenditure in industrial sectors.
