In 2024, the forecasted gross investment in the UK's motor vehicle parts and accessories sector is £381.45 million. This reflects a steady growth trajectory, increasing incrementally to £388.86 million by 2028. From 2023 to 2024, the sector shows a moderate year-on-year growth, consistent with the general upward trend into 2028, with an overall projected compound annual growth rate (CAGR) of approximately 0.47%.
Future trends to watch for include:
- The emergence of electric vehicles impacting part requirements.
- Potential regulatory changes affecting investment dynamics.
- Technological advancements leading to shifts in aftermarket services.
