The forecast for the sold production of parts of fluid power equipment in the UK reveals a dynamic trend from 2013 to 2028. In 2023, the industry stood at 156.94 Million Euros showing a 1.19% year-on-year increase from 2022. The last two years also exhibited growth, particularly from 2021 to 2022 with a 1.23% rise. The sector experienced significant fluctuations annually with a notable dip in 2016 by -33.06%, followed by a resurgence in 2019 by 135.22%. Over the past five years, there has been a compound annual growth rate (CAGR) of 14.94%. Forecasts indicate a steadier growth rate averaging close to 0.94% per year, with a total increase of 4.78% by 2028.
Future trends to watch for in the fluid power equipment market include advancements in energy-efficient technologies, increased automation, and the integration of Internet of Things (IoT) for better performance monitoring. Monitoring global supply chain dynamics and economic conditions will be critical, as these factors can heavily influence production and market demand.
