The number of enterprises in the UK's basic iron and steel manufacture sector is projected to grow steadily from 2024, with a consistent year-on-year increase. The forecast indicates that the number of enterprises, expressed in thousands, will rise from 1.29 in 2024 to 1.43 by 2028. This represents a Compound Annual Growth Rate (CAGR) of approximately 2.6% over five years. In 2023, there were 1.25 thousand enterprises in this sector, reflecting a resilient upward trend.
Key future trends to watch for in this sector include:
- Adoption of sustainable and environmentally friendly production methods.
- Impact of new trade agreements post-Brexit on industry dynamics.
- Technological advancements in manufacturing processes.
