The turnover in the sale of motor vehicle parts and accessories in the UK shows a steady increase from 2024 to 2028, with forecasts indicating growth from £23.08 billion in 2024 to £24.55 billion in 2028. The year-on-year growth rates are modest, highlighting consistent annual increases. In 2023, the turnover stood at a slightly lower figure, reflecting the beginning of this upward trend. The compound annual growth rate (CAGR) over this five-year period is indicative of sustained industry growth.
Future trends to watch for include technological advancements in vehicle parts, shifts in consumer preferences towards electric and hybrid vehicle components, and potential supply chain disruptions which could impact turnover growth patterns in this sector.
