The 2023 household expenditure on home hardware in the UK was recorded at 8.62 billion pounds sterling. Based on the forecasted data, the expenditure is projected to grow steadily from 9.1 billion pounds in 2024 to 11.01 billion pounds in 2028. The year-on-year growth rates are as follows: 5.27% from 2024 to 2025, 5.01% from 2025 to 2026, 4.77% from 2026 to 2027, and 4.45% from 2027 to 2028. The compounded annual growth rate (CAGR) for the period of 2024 to 2028 is approximately 5.12%.
Future trends to watch for include the increasing investment in smart home technology and sustainable home improvement solutions. These trends drive innovation and consumer spending within the home hardware sector.
