The UK sea and coastal freight water transport sector is projected to see a slight decline in the number of enterprises from 2024 to 2028. Beginning at 564 enterprises in 2024, the number is anticipated to decrease to 544 by 2028. This represents a year-on-year decline ranging from 0.89% to 1.02% annually. The compound annual growth rate (CAGR) over this five-year period stands at approximately -0.90%, indicating a gradual contraction in the sector. In 2023, the sector comprised a slightly higher number of enterprises, and this downtrend illustrates a continued shrinking industry.
Looking ahead, industry stakeholders should monitor trends such as advancements in shipping technology, shifts in trade patterns post-Brexit, and environmental regulations that could impact operational costs and drive further consolidation within the industry. Industry adaptability to high fuel costs and geopolitical developments will also be critical to either reverse or hasten the current contraction trend.
