The electrical equipment repair industry in the UK is forecasted to grow steadily from 2024 to 2028. The number of enterprises is expected to increase from 1.32 thousand in 2024 to 1.43 thousand by 2028. This represents a year-on-year growth rate of approximately 2.3% from 2024 to 2025, 2.2% from 2025 to 2026, 1.45% from 2026 to 2027, and 2.14% from 2027 to 2028. The compound annual growth rate (CAGR) is around 2.04% over the five-year period. As of 2023, the industry stood at approximately 1.29 thousand enterprises.
Future trends to watch for include:
- The impact of technological advancements on repair needs and capabilities.
- Growing environmental concerns driving sustainable repair practices.
- Potential regulatory changes affecting compliance and operational costs.
