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 (see IBISWorld report SP0.017), such as subscription video on demand providers, 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.

Industry revenue is forecast to decline at a compound annual rate of 28.3% over the five years through 2022-23 to £13.5 million. This includes... 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. Online Book Retailers in the UK

2022-2023 Revenue Growth: -9.5%

Companies in the Online Book Retailers industry have recorded a strong performance over the past five years, despite a potentially challenging retail landscape. Rising internet access has supported a notable shift in consumer spending habits towards online retail over the period. This trend has been particularly prevalent for book retailers, with online retailers able to use vast supply networks to stock a wider range of titles than their bricks-and-mortar counterparts, while the absence of substantial fixed costs has enabled industry operators to offer more competitive prices than traditional retailers.

Industry revenue is expected to increase at a compound annual rate of... Learn More

6. 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

7. 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

8. 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

9. Toy Retailing in the UK

2022-2023 Revenue Growth: -7.5%

Over the five years through 2022-23, the Toy Retailing industry declined at a compound annual rate of 4.1% to £1.8 billion. The industry has struggled with profitability due to immense external competition with online-only retailers, big-box stores and grocery stores, as well as the video game industry. Moreover, inflationary pressures and rising costs of importing goods from China, in particular, which many retailers rely on, have negatively affected profitability. Because of stronger negotiating power, larger retailers are able to get a lower wholesale price to preserve profit margins because of economies of scale, therefore, smaller operators have struggled more than... Learn More

10. Online Travel Agencies in the UK

2022-2023 Revenue Growth: -7.1%

Over the five years through 2021-22, industry revenue is anticipated to decrease at a compound annual rate of 3.6%, although this decline is largely due to the effects of the COVID-19 (coronavirus) outbreak over 2020-21. Prior to January 2020, industry revenue was on an upwards trajectory, driven by strong demand for travel and changing consumer trends as households became more familiar and comfortable with online purchases. Expanding product and service offerings and greater marketing and communication initiatives also prompted growth. However, online travel agencies (OTAs) have contended with numerous disturbances over the period, including from political unrest and conditions in... Learn More