The turnover in the UK's Manufacture of Lifting and Handling Equipment sector is projected to steadily grow from £4.69 billion in 2024 to £5.15 billion in 2028. This reflects a consistent year-on-year increase, with notable growth percentages. Assuming the turnover in 2023 was approximately £4.58 billion, these projections highlight an upward trend. From 2024 to 2028, the compound annual growth rate (CAGR) averages at 2.4%, indicating healthy progression in the sector.
Looking ahead, future trends to watch include:
- Adoption of advanced technologies and automation in manufacturing processes.
- Increasing demand from construction and logistics sectors.
- Potential impacts of governmental infrastructure projects and investments.
