The 14th edition of the Electrical Accessories Market Report – UK 2021-2025, has been published. This report provides a comprehensive and up to date review of the structure of the electrical accessories market in 2021. Focusing on market size and trends, product mix, supply, distribution and market prospects, the report is comprehensive, informative and will facilitate operational and strategic decision-making processes.
The electrical accessories market, as a mature sector, usually experiences moderate levels of growth and decline in line with the overall economy and construction industry trends. However, the market is also influenced by price pressures from low-cost imports and global trends in commodity price, notably copper.
The UK electric accessories market saw fluctuating output levels in the four-year period 2016 – 2019, with growth interrupted by a downturn in 2018 in response largely to sluggish non-residential construction in that year, coupled with pricing pressures and a sharp fall in copper prices in H2 2018.
With the outbreak of Covid-19 in 2020, the UK electrical accessories market saw a sharp decline, despite a recovery in H2 following the initial period of lockdown. New housebuilding was the most severely impacted of all the construction sectors by the pandemic during the first lockdown. There was also a decline in every non- residential end-use sector but particularly in retail.
Wall sockets and switches represent the largest segment of this market and have benefited from several trends in customer demand and product development. These include growing demand for aesthetic finishes, such as metallic, increased use of smart sockets and switches as part of home automation systems, and a growth of USB integrated sockets, partly triggered by the rise in working from home.
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A major driver of growth in this market is regulatory requirements, with the 18th edition of wiring regulations in 2018 prompting increased use of RCDs, a shift to a more expensive type of RCD (Type A), and greater use of AFDDs. Pending amendments to the regulations will further stimulate demand for these products.
The LV cable systems market is particularly susceptible to changes in commodity prices, particularly copper, used in cables, and steel, used in cable management and support systems.
Growth in the cable systems market has been sustained by increasing networking requirements, and the adoption of building management systems and fire and security systems in the non-domestic sector, leading to increased demand for cable and trunking, as well as higher quality products.
Key Issues Covered in the Report
Areas of Particular Interest
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