The UK steam generators manufacturing sector, excluding central heating boilers, is projected to see a consistent decline in employment from 2024 to 2028. The forecasted figures suggest a downward trend, with employment decreasing from 1.21 thousand in 2024 to 1.06 thousand by 2028. Year-on-year analysis reveals a consistent drop in full-time equivalent employment. The sector is experiencing a negative compound annual growth rate (CAGR) over this period, indicating an average annual shrinkage. In 2023, the employment number stood at a slightly higher figure, reflecting the beginning of this trend.
Future trends to watch for:
- Technological advancements potentially reducing the need for labor.
- Policy changes impacting manufacturing in the UK.
- Shifts in energy policies and sustainability trends affecting demand.
- Global competition influencing local market dynamics.
