A turning point?

As Q1 2024 draws to a close, Dave Raine, chairman of PMMDA, breaks down the industry figures to see how they've changed since the end of 2023.

As we (almost unbelievably) head to the end of Q1 in 2024, 2023 will, for some, have faded into the background. However, an important part of the PMMDA role is collecting, collating and then delivering the industry statistics for the previous year, and February saw the annual Statistics Meeting take place, this year held in MTC Coventry.

Whilst the figures are always retrospective, the meeting and its results are always keenly anticipated, and the fantastic turnout from the industry underlined this. As full members of the Association, contributors are provided with the full analytical breakdown of the import figures for machines, automation and a summary of ancillary equipment sold by them too, as well as an analysis of performance in detail using several methods and metrics. Whilst it is both important and essential to control the dissemination of the figures, I have no problem with summarising some of the facts for general release and discussion – we as an industry must work together.

The figures, as expected, showed a significant slowing of investment in 2023, but also indicated that the UK was not an outlier as far as figures were concerned – performance Europe-wide was very similar. Additionally, the figures suggested that we are still lagging behind the rest of Europe regarding automation, and the sales reflected this. However, given we have now almost completed Q1, what is reassuring to see and hear is that there seems to have been a watershed at the year end; positivity is translating into activity, and more importantly for everyone, results.

On a slightly less formal note, March also saw the hosting of the 49th annual SPRA gala dinner in Glasgow – 2025 will be its 50th. Whilst always popular, the event numbers were up almost 30% in 2022, which I would love to think tied in with my thoughts above, and shows a gradual and positive return to some kind of normality. Additionally, the enthusiasm shown by PMMDA and SPRA members, when discussions regarding regular more technically focussed events in 2024 were tabled, shows the industry is ready to spring forward – my genuine hope is that we can all deliver on this and see the rewards it will bring.