The UK market for lifting equipment designed for mounting on road vehicles is forecasted to experience a gradual decline from 2024 to 2028, starting at 51.159 million euros in 2024 and decreasing annually by around 1.6%. This decline reflects a consistent downward trend, with a Compound Annual Growth Rate (CAGR) of approximately -1.4% over the five-year period.
In 2023, the actual production value stood slightly higher than the forecasted figure for 2024, indicating the start of this declining phase. This trend suggests potential market saturation or evolving market preferences impacting demand for these equipment types.
Future trends to watch for:
- Technological advancements in lifting equipment could rejuvenate interest and demand.
- Regulatory changes affecting road vehicle-mounted equipment could impact production volumes.
- Growth of e-commerce and logistics industries might necessitate innovations in lifting solutions, potentially stabilizing market decline.
