5 Key Signals of Upcoming Growth in the UK Electrical Accessories Market

The lastest edition of the UK Electrical Accessories Market Report 2024-2028 is now live. We’ve compiled 5 key facts that provide insights into the electrical accessories market growth and opportunities that may be presented thereby.

Growth Projection

The market is expected to see a compound annual growth rate (CAGR) of 3.75% between 2024 and 2028, reflecting steady demand influenced by technological innovations and regulatory requirements.

Smart Home Devices Uptake

There is a significant uptrend in the adoption of smart home devices, which is reshaping consumer demand within the electrical accessories sector, particularly with the integration of IoT-enabled systems that enhance home energy management.

Impact of Electric Vehicles (EV)

New regulations promoting the adoption of electric vehicles are catalysing the expansion of related electrical accessories, such as in-home charging units, with manufacturers rapidly innovating to meet these emerging needs.

Focus on Sustainability

Manufacturers are increasingly focusing on developing products that support energy efficiency, aligning with governmental Net Zero objectives and consumer preferences for sustainable solutions.

Adaptation to Economic Challenges

In response to ongoing economic challenges like inflation and energy costs, the sector is innovating in areas such as product longevity and energy conservation, ensuring relevance in a changing economic landscape.

Technological advancements and significant regulatory changes

We asked the editor of this report to comment on the technological advancements and regulatory changes which are affecting this market. Here’s what Abdul Tantouch had to say:

“As the market is pushed towards greater sustainability and integration of smart home technologies, the industry is at a pivotal point.

The introduction of mandatory EV charging points in new homes is not just a regulatory move—it’s a signal of the broader shifts towards electrification and energy management that are defining the future. This report aims to dissect these trends, offering a clear view on how our market is transforming in response to both challenges and opportunities ahead.”