In 2023, the UK's national road freight volume for basic metals and fabricated metal products stood at 3.22 billion tonne kilometers. Forecasts indicate a decreasing trend over the next five years with volumes projected to decline annually by 4% in 2024, 4.9% in 2025, 5.2% in 2026, and 5.4% in 2027. By 2028, the volume is expected to decrease by another 5.3%, leading to a Compound Annual Growth Rate (CAGR) of negative 5.1% from 2024 to 2028.
Future trends to watch for:
- Impact of decarbonization and green initiatives on metal transport demand.
- Economic factors influencing manufacturing and construction activity in the UK.
- Technological advancements in logistics and transportation efficiencies.
- Shifts in trade policies post-Brexit affecting import and export patterns of metals.
