The fluid power equipment turnover in Belgium exhibited significant fluctuation between 2013 and 2023. After peaking at 193.8 million euros in 2017, it dropped sharply to 96.2 million euros in 2019, then showed a gradual recovery to 145.6 million euros by 2023. The year-on-year variation for the past two years saw a marginal increase of 0.48% in 2022 followed by 0.34% in 2023. The five-year CAGR from 2019 to 2023 reveals an average annual decline of 1.66%.
Looking ahead from 2024 to 2028, the forecasted data shows a stable, yet minimal growth trend with a forecasted five-year CAGR of 0.14% translating to an overall growth rate of 0.68% over the period. The turnover is expected to slightly increase from 146.0 million euros in 2024 to 147.0 million euros by 2028.
Future trends to watch for include:
- Technological advancements in fluid power systems.
- Increasing automation across industries.
- Regulatory changes impacting the industrial sector.
- Economic fluctuations and their impact on capital investment in equipment.
