The import of lifting, handling, loading or unloading machinery to the UK is projected to increase from $1.1093 billion in 2024 to $1.2015 billion by 2028. In 2023, the value stood at $1.085 billion. The year-on-year growth rate is anticipated to be steady, averaging around 2.3% annually. Over the five-year span from 2024 to 2028, the compound annual growth rate (CAGR) is calculated at approximately 2.05%.
Future trends to watch for:
- Technological advancements driving demand for more efficient machinery.
- Impact of trade policies post-Brexit affecting import dynamics.
- Evolving industries such as renewable energy potentially increasing demand.
- Sustainability pressures influencing the types of machinery imported.
