The number of employees in the UK's manufacture of lifting and handling equipment sector is forecasted to decrease gradually from 17.3 thousand in 2024 to 16.83 thousand in 2028. This indicates a steady decline in employment over these years, following a consistent downward trend.
Year-on-year, the sector anticipates a decline of approximately 0.69% on average. The Compound Annual Growth Rate (CAGR) over this five-year forecast period reflects a negative outlook, as employment is consistently reducing year over year.
Future trends to watch for include technological advancements driving automation and efficiency, which may further impact workforce needs. Policymaking, especially concerning labor markets and industrial innovation, could also reshape employment dynamics in this sector.
