The sold production of parts of fluid power equipment in Belgium has fluctuated significantly over the past decade. After peaking at 23.435 million Euros in 2017, the value witnessed a sharp decline, reaching a low point of 7.157 million Euros in 2021. However, a substantial rebound was seen in 2022 with a 93.26% year-on-year increase, continuing with a 9.33% rise in 2023. The value stood at 15.121 million Euros in 2023, still below the 2015 peak but showing recovery signs. Forecasts suggest steady growth, with an expected value of 18.028 million Euros by 2028, marking a 2.78% CAGR over the next five years.
Future trends to watch for:
- Technological advancements in fluid power equipment.
- Industry shifts towards automation and energy-efficient solutions.
- Regulatory changes impacting production and environmental compliance.
- Market demand fluctuations driven by global economic conditions.
- Potential impact of geopolitical events on raw material availability and cost.
