Biggest Industries by Revenue in the UK in 2022

1. Supermarkets in the UK

Revenue for 2022: $187.6B

Industry revenue is expected to grow at a compound annual rate of 0.5% over the five years through 2022-23 to reach £190.8 billion. Changing shopping habits, the aggressive expansion of discount supermarkets and increased external competition have influenced industry performance over the past five years. The largest operators have cut prices to attract greater loyalty from their customers. The Big Four's grip on the industry has weakened because of intense price competition on profit margins. Supply chains have also been disrupted due to a shortage of heavy goods vehicles drivers, which has inflated purchase costs. Nevertheless, supermarkets have been expanding... Learn More

2. Pension Funding in the UK

Revenue for 2022: $155.9B

The Pension Funding industry comprises defined benefit (DB) schemes and defined contribution (DC) schemes. Over the past decade, the industry has been transformed by the ongoing shift from DB to DC schemes, which in 2021-22 are estimated to account for 61% and 39% of total industry assets respectively. Industry revenue, which is calculated by combining contributions and investment returns, has increased over the past five years. The increase in contributions was fuelled by the phased introduction of automatic enrolment in pension schemes, which began in October 2012 and was fully phased in by February 2018. Record high levels of employment... Learn More

3. Construction Contractors in the UK

Revenue for 2022: $113.6B

Operators in the Construction Contractors industry are active across the building construction and civil engineering markets. Despite operators being remunerated for completing new building and infrastructure construction contracts or fulfilling maintenance, repair, renovation and remodelling contract obligations, the spectrum of services offered by civils and general building contractors in this industry is multifaceted. Some contractors focus on new dwellings construction, while civil engineering specialists afford clients services across the infrastructure value chain. Moreover, some contractors specialise in commercial building activity, while many independent contractors may focus on small-scale maintenance contracts in local markets.

Over the two years through 2019-20, revenue grew,... Learn More

4. Hospitals in the UK

Revenue for 2022: $112.7B

The Hospitals industry provides medical, diagnostic and treatment services at general and specialised hospitals. A growing and ageing population has increased demand, but public healthcare budgets have failed to keep pace with this, which has aided demand for private hospitals as a greater number of patients seek private treatment. Over the five years through 2022-23, industry revenue is expected to rise at a compound annual rate of 2.4% to reach £112.9 billion.

The outbreak of COVID-19 (the coronavirus) necessitated the release of significant government funding to help hospitals boost their capacities to treat afflicted patients. NHS funding rose from £148.9 billion... Learn More

5. New Car & Light Motor Vehicle Dealers in the UK

Revenue for 2022: $109.9B

Industry revenue is anticipated to fall at a compound annual rate of 5.9% to reach £101.9 billion over the five years through 2022-23. New car registrations have declined as a result of a period of economic uncertainty after the electoral decision to leave the European Union. Rising fuel prices and a weak pound have inflated the cost of new car ownership, restricting demand. Profit margins are expected to rise slightly over the five years through 2022-23, to reach 7.2%. The propensity of consumers to spend on discretionary items has been curbed by constrained consumer confidence and an anticipated decline in... Learn More

6. Banks in the UK

Revenue for 2022: $92.2B

Over the five years through 2022-23, industry revenue is expected to decline at a compound annual rate of 2.1% to £101 billion. The low-interest-rate environment of the past five years has limited the interest earned by banks from loans, negatively affecting income. A stricter regulatory environment, including increased capital requirements introduced under the Basel III banking reforms and ring-fencing regulations, constrained lending activity. To protect profit margins, industry operators have implemented significant branch rationalisation programmes and made substantial job cuts.

The outbreak of the COVID-19 (coronavirus) pandemic had a significant effect on the industry, with industry revenue falling by 14.2% in... Learn More

7. General Insurance in the UK

Revenue for 2022: $72.3B

Businesses in this industry underwrite general insurance policies relating to property, casualty, liability, motor vehicles and other general risks. The premiums they earn from these activities are then invested to generate additional income. The industry provides services to both private and commercial clients. Underwriting life and disability do not fall within this industry, although general health insurance does.

Over the five years through 2021-22, industry revenue is expected to increase at a compound annual rate of 0.2%. At the start of the period, investment income faltered as bond yields were constrained due to Bank of England interest rate decreases and corporate... Learn More

8. Management Consultants in the UK

Revenue for 2022: $67.6B

The Management Consultants industry covers a broad range of consulting services, including strategic and organisational planning, marketing, IT, human resource consulting and business process management. Over the five years through 2022-23, industry revenue is expected to grow at a compound annual rate of 2.2% to reach £70.2 billion. This growth has largely been driven by rising demand for IT consulting services. In addition, regulatory changes in the financial services sector, the industry's largest downstream market, have benefited the industry, as banks and other financial institutions have required assistance to reformulate business strategies and operations in order to comply with new... Learn More

9. Residential Building Construction in the UK

Revenue for 2022: $66.8B

The Residential Building Construction industry's performance is contingent on the propensity of property developers to invest in new ventures; movements in property prices; government schemes intended to boost the housing supply; and underlying sentiment in the housing market, which influences property investment and mortgage market activity. Revenue expanded in 2018-19 with the support of government programmes and new funding to induce land development and housebuilding activity. However, lower levels of homeowner equity discouraged spend on home improvement. Additionally, with property price inflation remaining lacklustre, the yield on housing units sold posted correspondingly tentative growth. In 2019-20, revenue declined, owing to... Learn More

10. Pharmaceutical Wholesaling in the UK

Revenue for 2022: $61.9B

The pharmaceutical and healthcare supply chain is characterised by extreme change. The loss of patent protection for several high-profile drugs has hampered performance because it has lowered revenue generated from such drugs. Increasingly stringent regulation has encouraged greater consumption of generic medicines and intensified downward pricing pressures. In 2021-22, the average industry profit margin is expected to narrow to 2.6%, from 3.3% in 2016-17.

Over the five years through 2021-22, industry revenue is forecast to increase at a compound annual rate 6.8% to reach £64.9 billion. Despite regulatory and funding challenges, growth has been supported by stockpiling behaviour ahead of the... Learn More