From 2013 to 2023, the production of fluid power equipment in the UK exhibited notable fluctuations. Commencing at 4.976 million kilograms in 2013, the production experienced various peaks and troughs, with significant declines in 2015 and 2016 and rebounds starting in 2017. By 2023, production levels reached approximately 7.9 million kilograms. Noteworthy year-on-year increases include a substantial 36.11% in 2017 and 25.58% in 2021, reflective of recovery phases. However, there were also notable declines, such as a 15.84% drop in 2015 and a 16.32% decrease in 2020, displaying the sector's volatility. The 5-year CAGR leading up to 2023 was 5.07%, indicating steady growth despite annual variances. Forecasts suggest further growth, anticipating a 5-year CAGR of 2.72%, with production expected to reach approximately 9.4 million kilograms by 2028.
Future trends to watch for include technological advancements in fluid power systems, increasing adoption of automation in manufacturing, and the potential impacts of global supply chain disruptions. Additionally, sustainability trends and regulations could influence production methods and materials used within the industry.
