The turnover in the manufacture of lifting and handling equipment sector in Belgium is projected to experience a consistent decline over the next five years. From a value of 569.6 million Euros in 2024, the turnover is forecasted to decrease to 479.3 million Euros by 2028. This declining trend follows from the previous years, reflecting a downturn in demand or potential market challenges faced by the sector.
In 2023, the sector stood at a certain value, which serves as a baseline for analyzing these trends. Looking at the year-on-year percentage variation: - From 2024 to 2025, the turnover is expected to decline by 4.03%.- From 2025 to 2026, the decline will be approximately 4.16%.- From 2026 to 2027, it will dip another 4.29%.- From 2027 to 2028, the decrease will be around 4.41%. The Compound Annual Growth Rate (CAGR) over the last five years indicates an average annual decline of approximately 4.22%.
Future trends to watch for include potential technological advancements in lifting and handling equipment that could reverse or mitigate the downward trend. Market adaptations, such as digital transformation and the adoption of green technologies, could also positively influence the turnover. Additionally, global economic conditions and local regulatory changes will play crucial roles in shaping the sector's future trajectory.
