The UK maintenance and repair of motor vehicles sector is forecasted to grow steadily from the 2024 turnover of £37.03 billion to £40.11 billion in 2028, reflecting consistent year-on-year growth. In 2023, the turnover stood at £36.25 billion, indicating a steady upward trend. The annual growth rate over this period confirms an optimistic outlook, showcasing increasing demand for vehicle maintenance services. Comparing year-on-year variations in percentage showcases a consistent increase, while the 5-year CAGR highlights this robust growth, reinforcing sector strength.
Future trends to watch include advancements in vehicle technology influencing repair needs, the rise of electric vehicles requiring specialized maintenance, and fluctuating economic conditions impacting consumer spending patterns. Additionally, government policies on automotive emissions may also drive changes in service demands.
