In 2023, household expenditure on housing, water, electricity, gas, and other fuels in India was recorded at 1.64 million crores. From 2024 to 2028, the forecasted data indicates a steady increase in expenditure with a projected CAGR of approximately 3.37%. The year-on-year growth reflects a consistent upward trend, driven by increased urbanization and population growth. Particularly, from 2026 to 2028, the expenditure growth remains robust.
Future trends to watch for:
- Impact of government policies on housing and energy.
- Technological advancements in energy efficiency.
- Shifts in consumer preferences towards sustainable living.
- Inflationary pressures affecting costs of living essentials.
