From 2013 to 2023, the turnover in the Installation of Industrial Machinery and Equipment sector in Belgium experienced fluctuations but showed an overall upward trend. The turnover in 2023 stood at 3.57 Billion Euros, reflecting a year-on-year increase of 9.09%. Between 2013 and 2023, significant annual variations were observed, including peaks like the 43.86% increase in 2019 and a notable decline of 14.7% in 2020. Over the last five years (2018-2023), the Compound Annual Growth Rate (CAGR) was 8.33%, indicating steady growth. Forecasts suggest continued growth with a CAGR of 3.78% from 2024 to 2028.
The future looks promising for this sector, with an expected growth rate of 20.36% over the next five years. Major trends to watch include advancements in automation technology, increased investment in industrial upgrades, and the impact of global economic conditions on industrial activity.
