Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Fastest Declining Industries in the UK by Revenue Growth (%) in 2024
Want to see more fastest declining industries?
View a list of the Top 25 fastest declining industries2024-2025 Revenue Growth: -37.7%
In recent years, the UK government has encouraged a shift towards low-carbon electricity generation to meet emissions targets. Rapid growth in renewable generating capacity has culminated in renewables accounting for more than 40% of electricity generation in 2022, up from 29.2% in 2017. Increased investment in renewables has boosted revenue in recent years, with government-initiated schemes presenting lucrative growth opportunities in the face of fluctuating electricity consumption trends. Electricity generators' revenue is forecast to increase at a compound annual rate of 3.1% to reach £30.9 billion over the five years through 2023-24.
Falling wholesale prices and a notable decline in electricity... Learn More
2024-2025 Revenue Growth: -32.1%
Over the five years through 2022-23, hard coal mining revenue is forecast to fall at a compound annual rate of 26.2%. Before COVID-19 hit, coal prices were inching downwards as demand for coal from electricity generators fell. The drop in sales and revenue has contributed to a sharp drop in the number of UK coal mines in the UK, with numerous mining licences expiring.
The COVID-19 outbreak accelerated the closure of coal mines in the UK; however, as the pandemic started to wind down, coal prices rose in response to supply chain disruptions. Russia's invasion of Ukraine has also played a... Learn More
2024-2025 Revenue Growth: -22.0%
The dairy cattle farming industry's revenue has expanded at a projected compound annual rate of 1.1% over the five years through 2023-24. Dairy cattle farmers struggled before the pandemic as dairy processors were forced to lower prices paid for raw milk because of strong global competition. While smaller farmers have occasionally been forced out of the industry, there has been little consolidation activity, as collective bargaining has prevented larger farms from gaining a competitive edge. The pandemic did little favour for the industry as the volume of milk and dairy sold to hospitality and food processors fell, denting revenue.
The Russian... Learn More
2024-2025 Revenue Growth: -15.6%
Fuel, chemical and metal agents contend with highly volatile global commodity prices and industrial production and construction output fluctuations. The COVID-19 outbreak severely pressured global economic growth causing production levels to tumble and stymieing oil demand. Oil prices collapsed and fell into negative territory for the first time, with producers paying clients to take the surplus off their hands. Record-low oil prices had a substantial contractionary effect on revenue as most agents work off a commission basis. China's steel production was curbed by strict social distancing measures, lagging behind global steel demand, forcing the prices of some steel products to... Learn More
2024-2025 Revenue Growth: -14.1%
Demand for wood products is heavily dependent on the level of construction activity. Industry revenue has grown during the five years, due to a surge in timber prices in 2021. Technological advances, new products and new revenue streams also supported industry growth. However, the industry has been challenged by high levels of import competition, as well as competition from substitute products. Revenue is expected to rise at a compound annual rate of 7.3% over the five years through 2022-23, to £2.6 billion.
The industry suffered a major decline in 2020-21, as the COVID-19 pandemic had a devasting effect on many of... Learn More
2024-2025 Revenue Growth: -13.0%
The Chemical and Fertiliser Mineral Mining industry's revenue has expanded at a compound annual rate of 1.1% over the past five years. The industry's production has shifted considerably as the largest mineral extractor, Cleveland Potash, changed its mine's production from muriate of potash to sulphate of potash (polyhalite) in 2018, causing revenue to fall as the company had to ramp up production. The two other major companies in the industry, Schlumberger Oilfield and Fluorsid British Fluorspar have also shifted production, with Schlumberger opening a new mine and Fluorsid moving mining operations from the western to the eastern portion of its... Learn More
2024-2025 Revenue Growth: -12.3%
Revenue is expected to contract at a compound annual rate of 1.6% to £11 billion over the five years through 2023-24. The pandemic significantly disrupted downstream manufacturing activity, as buyers had lower production, reducing the need for organic basic chemicals used as intermediate products. The temporary closure of construction sites across the UK during the COVID-19 outbreak meant sales of organic basic chemicals used to make plastic piping, wire coatings, insulation and other construction products fell, dampening revenue.
The Russian invasion of Ukraine hiked the price of key inputs like crude oil and natural gas. While high gas and oil prices... Learn More
2024-2025 Revenue Growth: -12.2%
Over the five years through 2022-23, revenue is expected to fall at a compound annual rate of 4.1%. Large amounts of cheap steel on the global market have undercut British prices and caused major trade partners like the EU to institute import quotas. Unable to lower prices because of high labour costs and environmental charges, industry giants like British Steel and Tata Steel have stated a need for government intervention to continue operating. The industry is also wracked by volatility as overproduction followed by strict pandemic restrictions in China have caused global steel prices to fluctuate.
The Russian invasion of Ukraine... Learn More
2024-2025 Revenue Growth: -11.4%
Over the five years through 2022-23, revenue is expected to contract at a compound annual rate of 1.7% to £3.7 billion. COVID-19 disruptions decimated urban rail traffic, driving this revenue loss. London is the largest market for urban rail services, accounting for more than 90% of passengers. Consequently, Transport for London (TfL) dominates the industry through its ownership of the London Underground, the Docklands Light Railway and the London Overground. Industry performance is predominately contingent on the number of passengers using these services, which is determined by several demographic and social factors, including the size of the urban population, the... Learn More
2024-2025 Revenue Growth: -11.2%
Companies in the Commercial Real Estate Agents industry act as intermediaries for the buying, selling, renting or leasing non-residential property. Typically, estate agents can earn income via fees and commissions charged to clients, which allows them to protect their operating profit margin from commercial property price fluctuations. Agents may also provide clients with value-added ancillary services through which they can generate additional revenue, including specialist transaction advisory services and escrow services. Competitive pressures have forced estate agents to lower fees to retain business volumes. Over the five years through 2023-24, the commercial real estate agents industry is expected to contract... Learn More
Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Riskiest Industries in the UK in 2024
VIEW ARTICLEBased on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Least Risky Industries in the UK in 2024
VIEW ARTICLEDownload a free sample report today to discover the breadth and depth of information available at your fingertips!
GET SAMPLE REPORT