Fastest Declining Industries in the UK by Revenue Growth (%) in 2022

1. Hard Coal Mining in the UK

2022-2023 Revenue Growth: -50.0%

In global terms, the United Kingdom is a minor producer of coal. Production has fallen sharply since the early 1970s, plunging when a large number of mines were closed in the mid-1980s. Coal was responsible for over two-thirds of electricity generation in the 1990s but it accounted for less than 1.6% of the UK's electricity generation during 2020, according to the Department for Business, Energy and Industrial Strategy. The industry has been in decline over the past five years, with only four mines currently operating in the United Kingdom. Revenue is forecast to fall at a compound annual rate of... Learn More

2. Online Alcohol Retailing in the UK

2022-2023 Revenue Growth: -23.3%

The Online Alcohol Retailing industry has grown strongly over the past five years, supported by growing digital literacy and rising online expenditure. The industry has also benefited from rising alcohol consumption. Wider product ranges and competitive prices have also led to a growing number of consumers migrating online, supporting revenue growth. Over the five years through 2021-22, industry revenue is forecast to grow at a compound annual rate of 9.6% to reach £851.9 million.

The outbreak of COVID-19 (coronavirus) provided an opportunity for the industry to break the dominance of bricks-and-mortar retailers. However, over 2021-22, industry revenue is expected to decline... Learn More

3. Video & Game Rental in the UK

2022-2023 Revenue Growth: -15.4%

Industry operators rent physical copies of films, TV programmes and games in stores or over the internet to be delivered by post. The industry does not include the provision of media through streaming services, such as through Subscription Video on Demand providers (IBISWorld report SP0.017), or downloadable games. Following the shift in consumer preference towards streaming services and the subsequent exit of major industry players, the industry has undergone massive structural change and is now highly fragmented.

Over the five years through 2020-21, industry revenue is expected to fall at compound annual rate of 34.2%. The industry structure has also changed... Learn More

4. Mobile Game Development in the UK

2022-2023 Revenue Growth: -9.9%

The Mobile Game Development industry develops and publishes games for a range of mobile devices, such as smartphones and tables. These games can be reached through social media platforms or mobile apps. Some of the largest industry operators have grown from games created for social media platforms. This industry includes the development and publishing of free-to-play games, as well as games with an upfront cost.

Over the five years through 2021-22, industry revenue is expected to expand at a compound annual rate of 10.1% to £1.7 billion, including growth of 15.7% in the current year. Firms have developed and improved the... Learn More

5. Building Project Development in the UK

2022-2023 Revenue Growth: -9.7%

Operators in the industry bring together the financial, technical and physical resources required to complete a property development. The financial and operational performance of development markets rests on a number of economic and socio-economic factors, ranging from property valuations and price movements to market sentiment and credit conditions. Over the five years through 2021-22, industry revenue is forecast to increase at a compound annual rate of 0.1%, driven by pre-pandemic gains in real estate markets, though diluted by a deficit on revaluation of investment property and pressure on rents since. While the EU referendum dampened investor sentiment and cooled property... Learn More

6. Residential Building Construction in the UK

2022-2023 Revenue Growth: -9.3%

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.

While EU referendum-related market uncertainties persisted and house price inflation somewhat stalled, revenue expanded over the two years through 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... Learn More

7. Bicycle Retailing in the UK

2022-2023 Revenue Growth: -8.5%

Over the five years through 2021-22, industry revenue is expected to decline at a compound annual rate of 2%, to £1.7 billion. However, in the current year, revenue is forecast to grow by 13.4%. National success in international sporting competitions, such as the Olympics and the Tour de France, has driven performance cycling among hobbyists and semi-professional cyclists. UK sports participation has risen as a result. Government policy has been encouraging greater rates of cycling throughout the period by investing in infrastructure and offering tax deductible discounts on bikes through the ride-to-work scheme for business employees.

The cycling market has boomed... Learn More

8. Commercial Building Construction in the UK

2022-2023 Revenue Growth: -8.3%

The Commercial Building Construction industry's performance is contingent on various external factors, particularly cyclical economic fluctuations, investor sentiment and government funding for social infrastructure. Following the EU referendum, market uncertainties ensued, with private investors and business reluctant to dedicate significant spending towards capital ventures which command a high upfront cost. While government capital procurement frameworks and private investors with an appetite for risk provided some respite, contracts emerging from such markets failed to offset a devaluation in industry output amid a lull in big-ticket business investment. Over the five years through 2021-22, revenue is forecast to decline at a compound... Learn More

9. Respiratory Protection Equipment Manufacturing in the UK

2022-2023 Revenue Growth: -8.2%

Companies in this industry manufacture respiratory protection equipment for use in workplaces where employees are exposed to potentially harmful substances in the atmosphere. High-risk work includes the cutting, drilling, sanding and welding of materials in construction and manufacturing industries, as well as quarry work and chemical manufacturing. The incidence of work-related ill-health per 100,000 workers has shown signs of a slight increase over the past five years, compared with a largely downward trend recorded prior to the start of this period. The increased prevalence of work-related respiratory diseases has supported industry demand over the past five years.

Industry revenue is expected... Learn More

10. Motor Vehicle Manufacturing in the UK

2022-2023 Revenue Growth: -8.0%

The Motor Vehicle Manufacturing industry has declined over the past five years. In 2016-17, the base year of the period, growth was supported by success in exporting cars to emerging economies and rising new car registrations. These factors were supported by cheap financing deals, which boosted domestic demand. However, production declined by 3% in 2017, according to data from the Society of Motor Manufacturers and Traders (SMMT). Production has continued to fall, especially in 2020-21 due to the disruption caused by the COVID-19 (coronavirus) outbreak. Industry revenue is anticipated to decline at a compound annual rate of 8.1% over the... Learn More