What we do
Our attractive markets
We operate in attractive markets, with healthy and stable historic growth that is poised to benefit from future decarbonisation efforts.
Trends that are shaping our markets
change
Driver
The electrical industry undergoes frequent regulatory changes. These are often designed to improve safety or product efficiency and result in both the renewal of installations and increases in value of the electrical products used within the installation.
Impact
+110%
increase in the average sales price of UK consumer units since 2010 (ex. inflation)
+60%
increase in Luceco consumer unit sales during EICR regulation change
Our response
Our advantaged business model allows us to update our designs efficiently to meet these new regulations, manufacture the new product in our own facilities and bring the product to market more quickly and effectively than our competitors.
technology
Driver
Consumers are increasingly demanding greater control and efficiency from their wiring devices and lighting, whilst installers are demanding technologies that simplify installation. This desire for increased functionality drives up product value.
Impact
Our response
We interact regularly with our consumers, installers and distributors to understand their emerging needs. We ensure these needs are reflected in new product designs.
built environment
Driver
A limited stock of new homes combined with consumers spending more time living and working at home, drives long-term house price appreciation and existing home renovation. These trends sustain demand for our products within repair and remodel projects.
Impact
4 million
UK homes below Decent Homes Standard
40%
of UK retail space needs re-purposing
Our response
Whether it is our market-leading Wiring Accessories range, our highly efficient LED Lighting retrofits, or our Portable Power products helping our customers get the job done, our products are helping people invest in their homes and working environments using brands they know and trust.
emergency
Driver
The electrification of household energy and transport is a key driver of future growth within the markets we serve, supported by specific regulatory changes such as phasing out the sale of new gas boilers and internal combustion vehicles over the coming decade.
Impact
£40bn
per year investment required for UK to meet net zero
5 million
additional EV charging vehicles by 2028
1 million
homes per year to be converted with low carbon heating solutions
Our response
We are extending our reach within the EV charging market. We are targeting £100m of low carbon sales by 2025 to ensure we are at the forefront as consumers adopt sustainable alternatives.