Forecast: Road Passenger Transport in the UK

The road passenger transport in the UK has shown a consistent upward trend from 2013 to 2023. In 2023, the value stood at 788.48 billion passenger kilometers. From 2013 to 2023, the sector experienced a compound annual growth rate (CAGR) of 0.83%. The year-on-year growth rate in 2023 was 0.68% compared to 0.7% in 2022. This upward trend highlights a steady increase in road passenger transport demand over the past decade.

Looking at the forecasts from 2024 to 2028, a more moderate growth trend is expected, with a forecast 5-year CAGR of 0.49% and an overall growth rate of 2.49%. This suggests a continued, albeit slower, increase in passenger kilometers, signaling a stable yet cautious optimism for the sector's expansion.

Future trends to watch for include:

  • Impact of environmental regulations and policies on road transport.
  • Advancements in automotive technology, such as electric vehicles and autonomous driving.
  • Shifts in consumer behavior towards more sustainable and efficient transportation options.
  • Potential disruptions due to economic fluctuations and geopolitical developments.

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