The production in the Manufacture of Lifting and Handling Equipment sector in Belgium had notable fluctuations over the last decade. From a high of 966.7 million euros in 2014, the sector saw a steep decline in 2015, followed by a series of ups and downs. By 2023, the sector stood at 588.4 million euros, reflecting minor growth with a year-on-year increase of 0.96% and a 5-year CAGR of 1.6%.

Looking into the future, the sector is projected to decline, with forecasted values indicating a 5-year CAGR of -2.97%, translating to an overall reduction of 14% by 2028. This suggests sustained downward pressure on production levels through the coming years.

Future trends to watch for include:

Technological advancements that could improve efficiency and reduce production costs.
Shifts in global trade policies that may affect demand and market access.
Environmental regulations that might require changes in manufacturing processes.