In 2023, the number of enterprises in the UK's manufacture of agricultural and forestry machinery sector stood at 695. Forecasted data from 2024 to 2028 shows a steady growth, with enterprises expected to increase from 712 in 2024 to 779 in 2028. The year-on-year growth rate is approximately 2.39% from 2024 to 2025, with a consistent upward trend over this period. The compound annual growth rate (CAGR) over the next five years is projected to be approximately 2.3%.
Future trends to watch for:
- Technological advancements in machinery, potentially driving further growth.
- Impact of post-Brexit trade agreements on the sector.
- Sustainability initiatives and their influence on machinery manufacturing.
