The employment in the UK Freight Transport by Road sector has experienced fluctuations over the past decade. From 2013 to 2014, employment decreased significantly, followed by a recovery peaking in 2016. However, the sector witnessed another dip in 2017, followed by a period of more stable growth from 2018 to 2019. The pandemic disrupted this trend with a notable decline in 2020. Post-2020, the sector rebounded, reaching 260.96K FTEs in 2023.
Notable year-on-year variations include significant growth in 2015 (19.11%) and 2021 (15.21%). The last two years show moderate growth with 5.94% in 2022 and 0.63% in 2023. Over the last five years, the compound annual growth rate (CAGR) averages at 0.28%.
Future trends to watch for include:
- An anticipated steady growth in employment, with forecasts suggesting a CAGR of 0.52% from 2024 to 2028.
- Technological advancements, which may alter workforce demand.
- The impact of regulatory changes and environmental policies.