The Manufacture of Fluid Power Equipment sector in the UK exhibited significant fluctuations over the past decade, peaking at £1.12 billion in 2023. The initial years saw a decline from £1.07 billion in 2013 to £0.8043 billion in 2017, followed by a recovery to £1.08 billion in 2019. The pandemic caused a sharp drop in 2020, but resilience was noted in subsequent years, with the value climbing to £1.1 billion in 2022 and £1.12 billion in 2023. Year-on-year variations indicate recent stabilization with moderate growth at around 1.96% in 2023. The last 5 years reflect a CAGR of approximately 3.59%, showing consistent recovery and growth. Looking ahead, forecast data suggests continued growth, albeit at a slower pace with a 1.51% forecasted CAGR from 2024 to 2028, culminating in an estimated value of £1.23 billion in 2028.
Future trends to watch for:
- Technological advancements and digitization in manufacturing processes.
- Increasing demand for energy-efficient fluid power equipment.
- Impact of global economic conditions and new regulations.
- Potential supply chain disruptions influencing production costs.
- Shifts towards sustainability and eco-friendly solutions.
