The forecast for the sold production of lifting and handling equipment in the UK shows a consistent upward trend. From a baseline in 2023, the industry is expected to grow annually, reaching 715.93 thousand items in 2024 and continuing to rise to 786.55 thousand items by 2028. The year-on-year growth rates are as follows:
- 2024: Baseline
- 2025: 2.54%
- 2026: 2.43%
- 2027: 2.33%
- 2028: 2.22%
Over the last two years leading up to 2023, the industry saw modest fluctuations around its baseline. The compound annual growth rate (CAGR) for the five years is expected to be around 2.38%, indicating steady growth.
Future trends to watch for include advancements in automation technology, increasing demand for green and sustainable equipment, and potential impacts of geopolitical factors on manufacturing capacities and supply chains.
