The turnover in the UK’s road freight transport sector exhibited moderate fluctuations from 2013 to 2023. The sector saw substantial growth in 2019 with a 33.06% year-on-year increase, followed by a significant decline in 2020 (down by 21.69%). Recent years have shown a rebound; by 2023, turnover stood at £34.13 billion, reflecting a 1.77% year-on-year increase. The average annual growth rate (CAGR) over the last five years was approximately 5.81%.
Looking ahead, from 2024 to 2028, turnover is forecasted to grow steadily, reaching £37.13 billion by 2028. The 5-year CAGR is projected at 1.38%, indicating a more subdued growth rate compared to recent years.
Future trends to watch for:
- Impacts of technological advancements in logistics and transport.
- Adoption of green and sustainable transport solutions.
- Potential changes in trade policies and economic conditions post-Brexit.
- Effects of regulations on carbon emissions and related compliances.
