The production value of Fluid Power Equipment in Belgium has experienced notable fluctuations over the years, reaching a value of 98.0 million Euros in 2023. A substantial growth occurred between 2013 and 2014, with a peak of 149.6 million Euros. However, since 2015, a combination of declines and modest recoveries has marked the industry, with significant dips in 2018 and 2019. Over the last two years, the production value has seen slight year-on-year increases, with a 0.93% rise in 2022 and a 0.72% increase in 2023. The last five years exhibit an average annual decline (CAGR) of -4.52%. Forecasts suggest a slow but steady increase, reaching 100.0 million Euros by 2028 with a 0.28% average annual growth rate over this period.
Future trends to watch for include advances in automation and smart technologies, which could drive efficiencies and new product developments, impacting production values positively. Additionally, shifts in global supply chains and sustainability trends could pose challenges or opportunities for the industry.
