In 2023, the actual sold production of bearing housings and plain shaft bearings in the UK stood at an undisclosed figure, but forecasts indicate a declining trend from 2024 onwards. The forecast suggests a continual decrease in production, from 83.458 million euros in 2024 to 34.854 million euros by 2028. This trend shows substantial year-on-year declines, highlighting a challenging market environment.
Key year-on-year percentage declines to note include around 15% from 2025 to 2026 and a further 20% drop from 2027 to 2028. Over the five-year period, the compound annual growth rate (CAGR) depicts a consistent average reduction each year, emphasizing the diminishing outlook for the industry.
Future trends to watch for:
- Potential shifts in demand for renewable energy applications affecting bearing types.
- Technological advancements improving bearing efficiency and lifespan, possibly impacting production needs.
- Economic conditions that could either accelerate or mitigate the downward trend.
