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Deloitte's recent report projects that India's residential construction sector will grow to USD 350 billion by 2030, fueled by urbanization, rising incomes, and government policies. Key growth areas include building materials, consumer electricals, home furniture and decor, home security, paints and construction chemicals, and flooring. Branded products, digital awareness, and energy-efficient trends are expected to further drive growth. The report highlights the potential of tier-2 and tier-3 cities in shaping the future of India's residential construction market.
The Indian residential construction industry is set to expand significantly, reaching USD 350 billion by 2030, supported by rapid urbanization, increasing incomes, and government initiatives aimed at promoting housing and infrastructure development. Deloitte, in its report titled Building beyond basics: Innovations transforming India's living spaces, noted that the construction and building materials sector is at a turning point. The building materials market alone is expected to grow from USD 105 billion in FY2025 to USD 166 billion by FY2030, registering a 9.6% annual growth. Advertisement
The consumer electricals sector, which includes residential wires and cables, fans, lighting, switches, fuses, and switchgear, is projected to reach USD 18.5 billion by FY2030. Growth in this segment is attributed to urbanization, infrastructure development, energy-efficient product adoption, and policy support. The share of branded products in this sector is expected to rise from 76% in 2023 to nearly 82% by 2027.
The home furniture and decor market is expected to expand to USD 62 billion from the current USD 38 billion, driven by urbanization, rising incomes, and growing consumer interest in stylish, functional, and personalized living spaces. Trends such as digital awareness, convenience, and utility-focused designs are also accelerating market growth.
The home security market, covering security cameras, smart locks, door phones, doorbell cameras, motion sensors, and hazard prevention devices, is expected to grow at an 18% CAGR, reaching USD 4.4 billion by FY2030.
The paints and construction chemicals sector is projected to reach USD 15.3 billion by FY2030, driven by rising homeownership, urbanization, and lifestyle upgrades. Demand is particularly strong in tier-2 and tier-3 cities, reflecting expanding residential development beyond metropolitan areas.
The flooring market, including ceramic tiles, vitrified and porcelain tiles, vinyl flooring, marble, and rugs, is also set to grow from USD 10.7 billion currently to USD 16.2 billion by FY2030, supported by increased housing projects and renovation activities.
Source PTI
5th Jun, 2025
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