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Machinery repair market in the United Kingdom to grow 2.2% CAGR between 2014-19

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Machinery Repair in the UK - Industry Market Research Report - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-18 10:47:01
The industry has endured tough conditions over the past five years, with revenue contracting by double digits during the first year of the period. The performance of this industry is traditionally countercyclical; demand for machinery repairs increases when economic conditions are challenging and uncertain. However, the economic recession had such far-reaching effects on manufacturing, construction and many other industries that companies were forced to delay non-essential repair and maintenance work.

Thus, industry performance has not followed its usual trend. However, when weak conditions persisted, the industry benefited, as firms chose to repair machinery rather than purchase replacements. Non-essential repairs put off immediately after the financial crisis could not be postponed indefinitely. These factors enabled the industry to return to growth in 2010-11 and it has been growing slowly ever since.

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