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Sep 08, 2020 (AB Digital via COMTEX) —
Home Improvement Market is valued at USD 819.53 Billion in 2018 and expected to reach USD 1137.57 Billion by 2025 with the CAGR of 4.8% over the forecast period.
Increasing development of the construction industry, increasing population, reducing living space, adoption of innovative interior & exterior like garden, smart kitchens etc. are some key impacting factors deriving the growth of the global DIY home improvement market.
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DIY home improvement is a service refers to building projects that alter the structure of an existing home. It is used in renovation including improvements to lawns, gardens and outdoor structures such as gazebos and garages. It also incorporates maintenance, repair and general servicing tasks. End use of DIY home improvement is in residential and nonresidential buildings. Do-It-Yourself (D-I-Y) projects have become much easier for the average person. DIY home improvement are very popular which helps to turn marginal areas into livable spaces such as turning basements into recrooms, home theaters, or home offices – or attics into spare bedrooms. Home improvement can consist of projects that upgrade an existing home interior such as electrical and plumbing, exterior such as masonry, concrete, siding, roofing and other improvements to the property such as garden work or garage maintenance.
DIY home improvement market report is segmented on the basis of product type, distribution channel, end-user and by regional & country level. Based upon product type, DIY home improvement market is classified into lumber and landscape management, décor and indoor garden, kitchen, painting and wallpaper, tools and hardware, building materials, lighting, plumbing and equipment, flooring and electrical work. Based upon distribution channel, DIY home improvement market is classified into DIY shops, online and other. Based upon end user, DIY home improvement market is classified into residential, commercial and others.
The regions covered in this DIY home improvement market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players DIY Home Improvement Market
DIY home improvement market report covers top kryplayers are,
Dow Building Solutions
Hanley Wood, LLC
DuPont Building Innovations
The Tapco Group
The Home Depot
Harvey Building Products
DIY Home Improvement Market Dynamics –
Increasing development of the construction industry, reducing living space, adoption of innovative interior & exterior like garden, smart kitchens etc. these are some key impacting factors deriving the growth of the global DIY home improvement market. According to estimates there was 2% increases (USD44 billion) in U.S. healthcare construction spending in 2019. Moreover, rise in investment in the global construction sector, specifically in the residential and commercial sector, growing population and urbanization, these factors will increases the DIY home improvement market growth in forecast period. According to the Our World in Data, more than 4 billion people live in urban areas across the globe. In addition, Increase in socialization including house parties and family gatherings will fueling the demand for home improvement services. In fact, a customer prefers convenience of online shopping and doorstep delivery of DIY home improvement products will further boost market growth over the forecast period. However, increasing prices of home building products and high cost with limited resources of raw materials will hamper the development of DIY home improvement market. However, innovative technology in construction industry and innovations in raw material are expected to boost the opportunity for the growth of DIY home improvement market.
DIY Home Improvement Market Regional Analysis –
North America is expected to dominate the DIY home improvement market with the highest share followed by Europe due to rising awareness among the people about advanced development in home product, rapid economic recovery, growth in population & urbanization and increase in government efforts to enhance residential & public infrastructure and presence of leading vendors like HORNBACH Baumarkt, Kingfisher and Travis Perkins. Presence of new builder in construction with quality, comfort, and energy efficiency for homes, these factors are expected to contribute to the regional growth in the forecast period. According to the Our World in Data, UN estimates report that 54 % of people in the world lived in urban areas in 2016 and United Nation will projected that 68 % of the world’s population live in urban areas by 2050.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period with due to the increase in construction industries, minimize labor cost for production and availability of effective infrastructure in emerging countries, such as China and India. These are the major factors increase the growth of markets in forecast period. National Bureau of Statistics of China, the housing construction area of real estate development enterprises was 8,938.21 million square meters in 2019. According to the National Bureau of Statistics, Building Construction data was reported at 14,882,953.173 RMB mn in Dec 2018 and this records an increase from the previous number of 13,570,352.523 RMB mn for Dec 2017.Furthermore, Growing housing prices in populated cities due to rapid urbanization will fueling the home improvement market in forcaste period.
Key Benefits for DIY Home Improvement Market Reports –
Global Market report covers in depth historical and forecast analysis.
Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Market report helps to identify opportunities in market place.
Global Market report covers extensive analysis of emerging trends and competitive landscape.
DIY home improvement market report covers prominent players are Dow Building Solutions, Ferguson Enterprises, Hanley Wood, LLC, DuPont Building Innovations, The Tapco Group, Kingfisher plc, The Home Depot, JELD-WEN, Kohler Co., Lutron Electronics, Masco Corporation, Harvey Building Products, Henkel Corporation, Pella Corporation, ABC Supply, Builders Firstsource, The Sherwin-Williams Company, Robert Bowden, Inc., Roxul Inc., SGC Horizon, AARP American Exteriors, LLC, Case Design/Remodeling Inc., Dreamstyle Remodeling, Andersen Corporation, Neil Kelly Company, Owens Construction, Power Home Remodeling Group, Rebuilding Together, Inc., Statewide Remodeling, Steves and Sons, Inc., Synchrony Financial, and Others.
DIY Home Improvement Market Segmentation –
By Product Type:- Lumber and landscape management, Décor and indoor garden, Kitchen, Painting and wallpaper, Tools and hardware, Building materials, Lighting, Plumbing and equipment, Flooring, Electrical work, other
By Distribution Channels:- DIY Shops, Online, Other
By End-users:- Residential, Commercial, Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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