The forecast for the transport of loaded road freight in the UK displays a gradual decline over the next five years from 2024 to 2028. Starting at 6.58 billion vehicle-kilometers in 2024, it is expected to decrease to 6.45 billion vehicle-kilometers by 2028. In 2023, this figure was slightly higher, indicating a continuing decrease.
Year-on-year, the decline rates show a small contraction of approximately 0.5% to 0.6%. Over the entire five-year forecast period, the compound annual growth rate (CAGR) is anticipated to reflect a slight overall reduction.
Future trends to watch for:
- Impact of economic changes on freight demand.
- Technological advancements in transport and logistics.
- Governmental policies on sustainability and their effects on road freight.
- The rise of alternative freight methods like rail or drone delivery.
