After a period of rapid increase, house price growth in the UK has moderated. In 2025, house prices are forecast to increase by ****percent. Between 2025 and 2029, the average house price growth is projected at *** percent. According to the source, home building is expected to increase slightly in this period, fueling home buying. On the other hand, higher borrowing costs despite recent easing of mortgage rates and affordability challenges may continue to suppress transaction activity. Historical house price growth in the UK House prices rose steadily between 2015 and 2020, despite minor fluctuations. In the following two years, prices soared, leading to the house price index jumping by about 20 percent. As the market stood in April 2025, the average price for a home stood at approximately ******* British pounds. Rents are expected to continue to grow According to another forecast, the prime residential market is also expected to see rental prices grow in the next five years. Growth is forecast to be stronger in 2025 and slow slightly until 2029. The rental market in London is expected to follow a similar trend, with Outer London slightly outperforming Central London.

According to the forecast, house prices in London are expected to continue to increase until 2029. During the five-year period from 2025 to 2029, the house prices for mainstream properties are forecast to rise by **** percent. In 2023, the average house price in London ranged between ******* British pounds and *** million British pounds, depending on the borough. Barking and Dagenham, Bexley, Newham, and Croydon were some of the most affordable boroughs to buy a house.

In 2023, the UK Real Estate Market reached a value of USD 816.7 million, and it is projected to surge to USD 919.0 million by 2030.

United Kingdom Residential Real Estate Market is Segmented by Property Type (Apartments and Condominiums, and Villas and Landed Houses), by Price Band (Affordable, Mid-Market and Luxury), by Business Model (Sales and Rental), by Mode of Sale (Primary and Secondary), and by Region (England, Scotland, Wales and Northern Ireland). The Market Forecasts are Provided in Terms of Value (USD)

Residential building contractors are contingent on the propensity of property developers to invest in new ventures; movements in property prices; government schemes intended to boost the housing supply; and underlying sentiment in the housing market. Industry contractors have endured turbulent operating conditions over the past five years, leading to volatile shifts in revenue and profitability. Revenue is forecast to grow at a compound annual rate of 5.4% over the five years through 2025-26, reaching £100.5 billion. The pandemic caused a significant drop in output in 2020-21, as restrictions placed on on-site activity and fewer enquiries for new housing units reduced revenue opportunities. Aided by government support for the housing market and the release of pent-up demand, 2021-22 was characterised by a strong rebound in activity, though materials and labour shortages maintained constraints on output. Mounting supply chain disruption and heightened economic uncertainty maintained pressure on output in the following year, though revenue growth was maintained by growth in average selling prices. Interest rate hikes and inflationary pressures led to a more subdued housing market in 2022-23, holding back the number of housing starts and completions during the year. This was followed by a slump in new residential building construction in the following year, as high borrowing costs and uncertain market conditions caused developers to scale back investment plans. The new Labour government has put forth ambitious housing targets, leading to planning reforms, increased funding for SME housebuilders and a particular focus on affordable housing to speed up housing delivery. Even though economic conditions continue to affect investor sentiment, supportive supply-side policies are anticipated to boost revenue growth by 0.5% in 2025-26. This growth is expected to also be fuelled by an uptick in new orders for residential building construction, coupled with a rise in average selling prices. Revenue is slated to climb at a compound annual rate of 2.3% to reach £112.5 billion over the five years through 2030-31. Housebuilding activity is set to grow in the medium-term, aided by the release of pent-up demand. Nonetheless, significant uncertainty remains, with mortgage rates likely to settle well-above pre-pandemic levels and supply chains remaining fragile. The new government’s pledge to deliver 1.5 million houses during the first five years of parliament will boost demand for industry contractors, though the full impact of this on growth prospects is dependent on the nature and extent of accompanying funding plans.

According to Cognitive Market Research, The Global CCTV Camera Housing market size is USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 8.20% from 2023 to 2030.

North America CCTV Camera Housing held the major market of more than 40% of the global revenue with a market size of USD XX million in 2023 & will grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030.
Europe CCTV Camera Housing accounted for a share of over 30% of the global market.
Asia Pacific CCTV Camera Housing held the market of more than 23% of the global revenue with a market size of USD XX million in 2023 & will grow at a compound annual growth rate (CAGR) of 10.2% from 2023 to 2030.
Latin America CCTV Camera Housing market of more than 5% of the global revenue with a market size of USD XX million in 2023 & will grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030.
Middle East & Africa CCTV Camera Housing held the major market of more than 2% of the global revenue with a market size of USD XX million in 2023 & will grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030.
The demand for CCTV camera housing is rising due to the numerous strategies adopted by key participants.
Demand for dome CCTV cameras remains higher in the CCTV camera housing market.
The metal category held the highest CCTV camera housing market revenue share in 2023.

Increasing Demand for Surveillance Systems and Rising Concerns over Safety and Security to Provide Viable Market Output

The need for enhanced security measures has led to a growing demand for surveillance systems across various sectors, including residential, commercial, and industrial. This increased demand directly translates into a higher demand for CCTV camera housings. In addition, with increasing instances of theft, vandalism, and security breaches, businesses and individuals are becoming more conscious about safety and security. This has led to an increased adoption of CCTV camera systems, subsequently driving the demand for camera housings.

For instance, in 2020, Motorola Solutions, a global leader in mission-critical communications and video surveillance solutions, acquired IndigoVision, a UK-based provider of end-to-end video security solutions. This acquisition expanded Motorola Solutions' video security portfolio, including camera housing options.

(Source: www.motorolasolutions.com/newsroom/press-releases/motorola-solutions-acquires-indigovision-uk-based-provider-end-to-end-video.html)

Growing Trend of Smart Cities and Expansion of Commercial and Industrial Sectors to Propel Market Growth

The concept of smart cities, where technology is integrated to improve the quality of life, has gained momentum. Smart city initiatives often include the deployment of surveillance systems, fueling the demand for CCTV camera housings. Moreover, the expansion of commercial and industrial sectors, such as retail, hospitality, manufacturing, and transportation, has created a greater need for surveillance systems. This expansion contributes to the growth of the CCTV camera housing market.

For instance, in 2021, Hanwha Techwin launched the new Wisenet P series AI cameras, featuring advanced video analytics and deep learning capabilities. These cameras are compatible with various camera housing options, allowing for flexible deployment in different environments.

(Source: hanwhavisionamerica.com/technologies/intelligent-video-audio-technologies/ai-technology/)

Market Restraints of the CCTV Camera Housing

High Installation and Maintenance Costs, Privacy Concerns, and Technological Obsolescence to Restrict Market Growth

High installation and maintenance costs associated with CCTV camera systems, including camera housings, can deter some businesses or individuals from investing in comprehensive surveillance systems, limiting the demand for camera housings. Privacy concerns and regulations surrounding the use of surveillance systems can also pose restraints. Stricter privacy regulations and concerns about surveillance may lead to limitations on the deployment of cameras, affecting the demand for camera housings. Additionally, the lack of standardization in specifications and compatibility with different camera models can create challenges for customers, potentially leading to confusion and compatibility issues. Limited awareness and knowled...

The Estate Agents industry is mostly made up of many small companies that operate locally, attracting customers through their expert regional knowledge. However, a few larger estate agents, like Connells Group, Savills and LSL Property Services, operate throughout the UK, leveraging their brand power and global resources to capture more of the market. Estate agent revenue is expected to grow at a compound annual rate of 1.2% over the five years through 2025-26 to £15.2 billion, including a forecast rise of 1.3% in 2025-26. The pandemic induced fierce volatility and a shift in market dynamics in 2020-21, but activity quickly bounced back. Despite a solid recovery, aided by pent-up demand and government support, aggressive interest rate hikes and a gloomy economic outlook hit property markets in 2023-24, hurting transaction volumes and limiting the need for estate agents. Declining transaction volumes translated into a corresponding dip in estate agents' lead generation over the year. However, the industry bounced back in 2024-25. House prices rose at the same time as interest rates began edging downwards. Additionally, the changes to the Stamp Duty threshold in April 2025 led to a surge in transactions as people rushed to complete purchases before the deadline to avoid paying extra stamp duty, which boosted transactions and revenue in 2024-25. Despite increases to Stamp Duty in 2025-26, falling interest rates and rising house prices in 2025-26 have offset a fall in property transactions, leading to revenue inching upwards in 2025-26, whilst profit has remained flat. Revenue is forecast to grow at a compound annual rate of 2.5% over the five years through 2030-31 to £17.2 billion. The economic environment is set to stabilise in the short term as interest rates fall, pushing up prices and transaction volumes and supporting revenue growth. The rise of online-only and hybrid estate agents will continue to gather momentum as e-commerce grows. However, bricks-and-mortar agencies will likely remain on top thanks to their expert regional knowledge and personalised services. Increased funding for housebuilding from the government should increase the supply of housing in the future, further driving revenue growth for estate agents – they’ll have more houses to sell. The introduction of the Renters' Rights Act in October 2025 is expected to shake the industry in the short term. However, those prepared to embrace the changes the act brings will be well-positioned to thrive.

Real estate investment trusts (REITs) are attractive investment vehicles, as they are exempt from corporate tax. A reduction in REIT requirements and restrictions has encouraged new entrants, although many were hit hard by the retail crash during the COVID-19 outbreak. Revenue is expected to grow at a compound annual rate of 0.4% over the five years through 2024-25 to £8.5 billion including estimated growth of 11.8% in 2024-25, while the average profit is expected to be 19.3%. As many REITs own some form of retail and office property, lockdowns and social distancing measures during the pandemic meant the REIT industry lost revenue. Many REITs were forced to sell assets to stay afloat, threatening a spiral in retail property value, with shopping centre giant Intu Properties collapsing into administration. While many REITs with exposure to warehouses performed well in the aftermath of the COVID-19 outbreak amid the e-commerce boom, the industry contended with significant headwinds like rising interest rates and rock-bottom confidence in 2022-23, hurting asset valuations and stifling investment activity. Macroeconomic conditions improved somewhat in 2023-24, with both business and consumer confidence picking up thanks to more optimistic growth prospects and stabilising interest, supporting rental income. However, the higher base rate environment has posed financing challenges, resulting in REITs finding alternative sources of finances like share placements to capitalise on low property values. In 2024-25, REITs have welcomed interest rate cuts, easing financing pressures and lifting asset values. This will support balance sheets, driving investment activity and revenue growth. REIT revenue is forecast to grow at a compound annual rate of 5.6% over the five years through 2029-30 to £11.2 billion. The hike in corporation tax in April 2023 has resulted in investors looking towards REITs due to their tax advantages, positioning REITs for significant investment in the coming years and driving revenue growth. REITs will welcome solid government support in the form of regulatory changes aiming at making the industry more competitive. Technological innovation will also shape the industry. Most notably, proptech solutions are being introduced, which improve property management and operating efficiency, supporting profit.

Revenue is forecast to contract at a compound annual rate of 2% over the five years through 2025 to €44.7 billion. This is mostly the result of COVID-19 restrictions dampening downstream demand in 2020. While 2021 saw some recovery, poor economic conditions since 2022 have stifled any significant recovery, continuing to weigh on the industry’s revenue performance. In 2025, revenue is slated to dip by 1.1% owing to the cooling housing market, despite significant investment in civil engineering projects across Europe. Despite public funding and support for new residential properties, a weaker housing market has limited stone and aggregates demand from property developers. This is primarily the result of persistently high interest rates, inhibiting borrowing and investing. Another key factor is the decline in cement and concrete manufacturing (two key downstream markets) in Europe since 2021, according to CEMBUREAU, owing to construction companies moving towards lower embedded CO2 construction materials. Still, revenue has been propped up by growing demand from non-construction markets, like glass manufacturers, fertiliser manufacturers and other industrial and building-environment solutions applications (like sand and gravel being used to prevent coastline erosion) Over the five years through 2030, revenue is forecast to grow at a compound annual rate of 2.5%, to €50.7 billion. Economic conditions are likely to remain fairly weak in the short to medium term as inflation remains above the universal 2% target. The elevated rate of inflation will ensure central banks delay any reductions in the base rate, keeping the cost of borrowing high for would-be home buyers. Weaker demand for houses will contribute to weak price performance and disincentivise developers from increasing production, weighing on activity levels in the construction sector. However, pockets of opportunity will remain in alternative uses of stone, clay, gravel and sand.

Revenue is forecast to swell at a compound annual rate of 3.1% over the five years through 2025 to €291.2 billion. Electrical contractors serve the construction sector, so procyclical commercial and residential construction trends influence revenue prospects. Hence, economic uncertainty associated with rampant inflationary pressures and reduced budgets has caused year-on-year revenue volatility for the Electricians industry. Weak economic conditions have restricted the number of new projects coming to fruition, hindering the number of big-ticket tender opportunities available for electricians to bid for and obtain. Businesses have remained cautious amid an uncertain economic outlook, opting to preserve cash and postpone or cancel significant construction projects. Over the two years through 2024, inflationary pressures have persisted and retaliatory increases to the base rate have ballooned the cost of borrowing. Despite public funding and support for new residential properties, a cooling housing market has limited demand from property developers. In 2024, as inflation began to ease, central banks responded by lowering interest rates to support economic growth. This move has encouraged property and commercial building investors to initiate construction and renovation projects, thereby boosting opportunities for electricians to bid for new contracts. Despite ongoing economic uncertainties that continue to challenge revenue prospects, the push for net-zero emissions has significantly bolstered demand for energy-efficient electrical systems. This shift is diversifying and enhancing the demand for new electrical installations. Revenue is expected to climb by 1.2% in 2025. As inflationary pressures subside and business and consumer sentiment rebound, revenue prospects will grow and more large tender opportunities will come to fruition. Businesses will increase spending budgets in line with recovering economic conditions and recovering house prices will spur new opportunities in the residential market, contributing to a recovery in income. Ongoing efforts to achieve carbon neutrality will continue to drive innovation in the industry and prompt electricians to upskill to ensure they can delivery energy-efficient electrical solutions to clients. Revenue is forecast to expand at a compound annual rate of 5.3% over the five years through 2030 to €377.6 billion.

Conditions in the residential and commercial property markets heavily impact the revenue for removal services. Demand is also influenced by the willingness of customers to spend on a range of specialist removal services. Movers must balance whether to pay for high-quality professional help or carry out the removals themselves, or hire a vehicle and undertake the removals as a cost-saving method. A slump in residential property transactions occurred after an initially strong post-pandemic recovery was aided by government schemes like the Stamp Duty holiday and the Help to Buy scheme, which facilitated a rebound in revenue for removal companies. These measures helped stimulate house-buying activity, but resulted in soaring property prices, which caused a 12.2% drop in property transactions in 2022-23 and a 17.1% drop in 2023-24, according to HM Revenue & Customs. Soaring inflation rates have led the Bank of England to increase the interest rate, which peaked at 5.25% from August 2023 to July 2024. This surged the cost of borrowing, making it more expensive for people to move homes and limiting demand for removal services. Despite the interest rate falling to 4% in August 2025, according to the Bank of England, cheaper borrowing costs have been offset by a surge in the Stamp Duty Land Tax (SDLT), making home purchases more expensive.

Corporate relocations have also been down amid continued hybrid working patterns, discouraging companies from expanding into bigger office space. Since corporate moves cannot be substituted for DIY and require professional input, they often command a higher price and allow for a substantial profit to be made. The falling number of business moves has caused profit to face a downward trend in the past five years. Overall, in the five years through 2025-25, revenue for the Removal Services industry is forecast to grow at a compound annual rate of 1.1% to reach £1.4 billion, primarily facilitated by the significant 15.6% revenue recovery experienced after the pandemic. In 2025-26, revenue is expected to contract 0.6%, attributed to uncertainty in the housing market caused by changes to SDLT and an underperformance of government housebuilding targets.

Higher housebuilding activity is likely to support revenue growth for removal companies, as the Social and Affordable Housing Programme kicks in from 2026 and the Labour commitment to build 1.5 million new homes by 2029 plays out. Increased housebuilding activity will support demand for removal companies, particularly from renters looking to get on to the property ladder. As economic headwinds subside, more residential transactions and a surge in business relocations and office upgrades are likely, which will drive demand for a range of removal services, allowing companies to diversify their revenue streams. Over the five years through 2030-31, revenue is anticipated to grow at a compound annual rate of 3.4%, reaching £1.6 billion.

Building contractors and developers depend on various socio-economic factors, including property values, underlying sentiment in the housing market, the degree of optimism among downstream businesses and credit conditions. All of these drivers typically track in line with economic sentiment, with recent economic shocks spurring a difficult period for building contractors and developers. Nonetheless, the enduring need for building services, particularly to tackle housing shortages across the continent, ensures a strong foundation of work. Revenue is forecast to grow at a compound annual rate of 2.3% to reach €1.3 trillion over the five years through 2025. Operational and supply chain disruption caused by the pandemic reversed the fortunes of building contractors and developers in 2020, as on-site activity tumbled and downstream clients either cancelled, froze or scaled back investment plans. Aided by the release of pent-up demand and supportive government policy, building construction output rebounded in 2021. Excess demand for key raw materials led to extended lead times during this period, while input costs recorded a further surge as a result of the effects of rapidly climbing energy prices following Russia’s invasion of Ukraine. Soaring construction costs and the impact of interest rate hikes on both the housing market and investor sentiment led to a renewed slowdown in building construction activity across the continent. However, falling inflation and the start of an interest rate cutting cycle have spurred signs of a recovery in new work volumes, supporting anticipated revenue growth of 2.3% in 2025. Revenue is forecast to increase at a compound annual rate of 6.7% to €1.7 trillion over the five years through 2030. Activity is set to remain sluggish in the medium term, as weak economic growth and uncertainty surrounding the impact of the volatile global tariff environment on inflation and borrowing costs continue to weigh on investor sentiment. Contractors and developers will increasingly rely on public sector support, including measures to boost the supply of new housing, as countries seek to tackle severe housing shortages. Meanwhile, the introduction of more stringent sustainability requirements will drive demand for energy retrofits.

Economic uncertainty and inflationary pressures have spurred a degree of instability in the UK economy in recent years. This has made private investors reluctant to dedicate significant spending towards capital ventures, weighing on lead generation in commercial building construction markets. High construction costs and rising interest rates have created further apprehension among property developers to engage in new ventures, though long-term government capital procurement frameworks have provided some resilience to wavering private investment. Aided by the release of pent-up demand and a stronger-than-anticipated initial economic recovery from the pandemic, the industry recorded a strong rebound in new orders in 2021-22, particularly in private commercial and private industrial markets. However, capacity constraints and the impact of reduced new work volumes secured during the height of the pandemic limited output growth. Growth in new order volumes slowed in 2022-23, as economic uncertainty compounded and rising tender prices reduced the propensity of investors to commit to commercial real estate ventures. High borrowing costs continued to weigh on investor sentiment in 2023-24, with interest rates hitting 5.25% in August 2023, according to the Bank of England. However, a steady stream of work on projects procured through capital procurement frameworks, including Procure23 and the School Rebuilding Programme, has bolstered revenue growth for publicly funded buildings. Overall, revenue is expected to climb at a compound annual rate of 3.6% over the five years through 2025-26 to £21.6 billion, despite a forecast dip of 1.4% in 2025-26 as inflationary pressure hits demand. Revenue is slated to swell at a compound annual rate of 1.1% over the five years through 2030-31 to reach £22.9 billion. The effects of the UK's economic slowdown will continue to bite in the near term as weak order books limit remuneration. Still, commitments made by the government as part of capital procurement frameworks will continue to support demand for commercial building contractors in the coming years, while private-sector order books should improve as borrowing costs come down. Although input price inflation is set to continue to ease in the medium term, material costs are likely to remain elevated and a construction worker shortage will pressure profit. According to the Building Cost Information Service, material costs are anticipated to grow by 15% in the five years through Q3 2030.

Hardware and home improvement stores’ revenue is forecast to rise at a compound annual rate of 1.4% over the five years through 2024 to reach €155.8 billion. Private spending on home renovation and maintenance, construction activity, environmental awareness and the number of households each play their part in determining sales. The EU and the UK enjoyed a housing market boom prior to 2023, when soaring mortgage rates deterred many from buying a new house. While demand for outfitting new houses is down, more Europeans are turning to repair, maintenance and renovation work on their existing properties, helping to raise sales of hardware and home improvement products. This trend accelerated during the COVID-19 pandemic, as people confined to their homes looked to refresh their surroundings and found themselves with more time to dedicate to DIY projects. Hardware and home improvement stores were deemed by many governments as essential businesses, allowing them to remain open during the lockdowns. In 2024, revenue growth is expected to be constrained by the cost-of-living crisis. Shoppers are increasingly price-sensitive and many are thinking twice before spending in response to intense inflationary pressures, cutting sales for many hardware and home improvement stores. Price inflation is expected to outweigh falling sales volumes, leading to revenue growth of 1% in 2024. Over the five years through 2029, hardware and home improvement stores’ revenue is slated to climb at a compound annual rate of 1.5% to reach €168 billion. Ever-growing levels of environmental awareness among Europeans will drive strong demand for sustainably sourced and energy-efficient products, like reclaimed wood and lithium-ion battery-powered hand tools. Competition from online-only retailers will continue to heat up, forcing hardware and home improvement stores to expand their in-store offerings to attract customers – augmented reality stations where shoppers can visualise their new products in their homes are one way retailers can try to do this.

Hardware and home improvement stores’ revenue is forecast to rise at a compound annual rate of 1.4% over the five years through 2024 to reach €155.8 billion. Private spending on home renovation and maintenance, construction activity, environmental awareness and the number of households each play their part in determining sales. The EU and the UK enjoyed a housing market boom prior to 2023, when soaring mortgage rates deterred many from buying a new house. While demand for outfitting new houses is down, more Europeans are turning to repair, maintenance and renovation work on their existing properties, helping to raise sales of hardware and home improvement products. This trend accelerated during the COVID-19 pandemic, as people confined to their homes looked to refresh their surroundings and found themselves with more time to dedicate to DIY projects. Hardware and home improvement stores were deemed by many governments as essential businesses, allowing them to remain open during the lockdowns. In 2024, revenue growth is expected to be constrained by the cost-of-living crisis. Shoppers are increasingly price-sensitive and many are thinking twice before spending in response to intense inflationary pressures, cutting sales for many hardware and home improvement stores. Price inflation is expected to outweigh falling sales volumes, leading to revenue growth of 1% in 2024. Over the five years through 2029, hardware and home improvement stores’ revenue is slated to climb at a compound annual rate of 1.5% to reach €168 billion. Ever-growing levels of environmental awareness among Europeans will drive strong demand for sustainably sourced and energy-efficient products, like reclaimed wood and lithium-ion battery-powered hand tools. Competition from online-only retailers will continue to heat up, forcing hardware and home improvement stores to expand their in-store offerings to attract customers – augmented reality stations where shoppers can visualise their new products in their homes are one way retailers can try to do this.

Hardware and home improvement stores’ revenue is forecast to rise at a compound annual rate of 1.4% over the five years through 2024 to reach €155.8 billion. Private spending on home renovation and maintenance, construction activity, environmental awareness and the number of households each play their part in determining sales. The EU and the UK enjoyed a housing market boom prior to 2023, when soaring mortgage rates deterred many from buying a new house. While demand for outfitting new houses is down, more Europeans are turning to repair, maintenance and renovation work on their existing properties, helping to raise sales of hardware and home improvement products. This trend accelerated during the COVID-19 pandemic, as people confined to their homes looked to refresh their surroundings and found themselves with more time to dedicate to DIY projects. Hardware and home improvement stores were deemed by many governments as essential businesses, allowing them to remain open during the lockdowns. In 2024, revenue growth is expected to be constrained by the cost-of-living crisis. Shoppers are increasingly price-sensitive and many are thinking twice before spending in response to intense inflationary pressures, cutting sales for many hardware and home improvement stores. Price inflation is expected to outweigh falling sales volumes, leading to revenue growth of 1% in 2024. Over the five years through 2029, hardware and home improvement stores’ revenue is slated to climb at a compound annual rate of 1.5% to reach €168 billion. Ever-growing levels of environmental awareness among Europeans will drive strong demand for sustainably sourced and energy-efficient products, like reclaimed wood and lithium-ion battery-powered hand tools. Competition from online-only retailers will continue to heat up, forcing hardware and home improvement stores to expand their in-store offerings to attract customers – augmented reality stations where shoppers can visualise their new products in their homes are one way retailers can try to do this.

Hardware and home improvement stores’ revenue is forecast to rise at a compound annual rate of 1.4% over the five years through 2024 to reach €155.8 billion. Private spending on home renovation and maintenance, construction activity, environmental awareness and the number of households each play their part in determining sales. The EU and the UK enjoyed a housing market boom prior to 2023, when soaring mortgage rates deterred many from buying a new house. While demand for outfitting new houses is down, more Europeans are turning to repair, maintenance and renovation work on their existing properties, helping to raise sales of hardware and home improvement products. This trend accelerated during the COVID-19 pandemic, as people confined to their homes looked to refresh their surroundings and found themselves with more time to dedicate to DIY projects. Hardware and home improvement stores were deemed by many governments as essential businesses, allowing them to remain open during the lockdowns. In 2024, revenue growth is expected to be constrained by the cost-of-living crisis. Shoppers are increasingly price-sensitive and many are thinking twice before spending in response to intense inflationary pressures, cutting sales for many hardware and home improvement stores. Price inflation is expected to outweigh falling sales volumes, leading to revenue growth of 1% in 2024. Over the five years through 2029, hardware and home improvement stores’ revenue is slated to climb at a compound annual rate of 1.5% to reach €168 billion. Ever-growing levels of environmental awareness among Europeans will drive strong demand for sustainably sourced and energy-efficient products, like reclaimed wood and lithium-ion battery-powered hand tools. Competition from online-only retailers will continue to heat up, forcing hardware and home improvement stores to expand their in-store offerings to attract customers – augmented reality stations where shoppers can visualise their new products in their homes are one way retailers can try to do this.