The UK manufacture of parts and accessories for motor vehicles sector demonstrates a stable growth trend, with turnover forecasted to increase from £13.02 billion in 2024 to £13.58 billion by 2028. The annual growth is consistent, around 1.2% to 1.3%, reflecting a steady post-pandemic recovery and adaptation to the electric vehicle market trends. The cumulative annual growth rate (CAGR) from 2024 to 2028 stands at approximately 1.3%.

Future trends to watch for include:

Increased innovation and investment in electric vehicle components to meet rising demand and regulatory changes.
Potential supply chain adaptations as manufacturers respond to geopolitical shifts and market dynamics.
Strengthening of domestic manufacturing capabilities to ensure resilience against global disruptions.