The turnover in the UK sea and coastal freight water transport sector is projected to experience steady growth from 2024 to 2028. Starting at £9.95 billion in 2024, it is expected to reach £11.08 billion by 2028. In percentages, this indicates an average compound annual growth rate (CAGR) of approximately 2.7% over this period. Compared to figures from 2023, this reflects a continuation of moderate growth, as the sector adjusts to post-pandemic global trade recoveries and evolving shipping demands.
Future trends to watch include advancements in sustainable shipping technologies, which could affect operational efficiencies and profitability. Additionally, post-Brexit trade agreements may influence shipping routes and demand. Monitoring these factors will be crucial for stakeholders navigating this evolving industry landscape.
