Forecast: Sold Production of Motor Vehicle Parts and Accessories in the UK

The sold production of motor vehicle parts and accessories in the UK is forecasted to decline steadily from 177.54 million kilograms in 2024 to 171.73 million kilograms in 2028. Compared to 2023, where the actual production stood slightly higher, this represents continuous year-on-year decreases of approximately -0.84% in 2025, -0.84% in 2026, -0.83% in 2027, and -0.82% in 2028. The compound annual growth rate (CAGR) over the forecasted five-year period indicates an average annual decline of around -0.83%.

Future trends to watch for include:

• The impact of Brexit-related changes on supply chain and production costs.

• Increasing adoption of electric and autonomous vehicle technologies that may shift demand in the parts and accessories sector.

• Potential for economic fluctuations influencing consumer and manufacturer spending in the automotive industry.

• Innovation in manufacturing processes such as 3D printing and automation possibly reshaping production volumes and efficiencies.