Home Improvement Market – Global Industry Analysis and Forecast (2021-2027) by Project, End-use and Region

Home Improvement Market is anticipated to reach US$ 987.80 Bn by 2027 from US$ 762.90 Bn in 2020 at a CAGR of 4.4% during a forecast period. Homeowners' shifting preferences for energy-efficient and luxury living areas are helping to propel the market forward. The market has grown as a result of rapid urbanization and government measures to give incentives and tax credits for green building expansion. Furthermore, the popularity of e-commerce and the availability of technologically improved system improvements are expected to drive the Home Improvement Market. Home Improvement Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

COVID-19 impact on market:

COVID-19 has the potential to have three major effects on the global economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Our analysts, who are monitoring the situation throughout the world, believe that the market would provide producers with lucrative opportunities following the COVID-19 dilemma.

Home Improvement Market Dynamics

The growing popularity of smart kitchens in home improvement is due to the rising demand for simple add-ons like self-regulating dispensers, motion-sensing water faucets, and chillers with a one-touch function. Additionally, efficient storage cabinetry, new appliance types and preferences, hardwood flooring, backsplash trends, and an efficient link to the outdoors are expected to drive the growth of the market. Soaring mortgage and interest rates, as well as rising new house prices, are boosting millennial home improvement expenditures. Homeowners are quickly adopting integrated home control systems as one of the most popular technologies. The technology improves simplicity, accessibility, and security by allowing users to control their whole house from a single touch screen panel. The connectivity of lighting, audio, video, cameras, HVAC, and door access from conveniently positioned panels inside the premises has been made possible thanks to IoT integration. Furthermore, with security system connectivity, it is possible to monitor a whole property from any remote place utilizing smartphone and tablet apps. As a result, these factors are expected to drive the home improvement market forward. According to Home Renovation Statistics and Trends, the average cost of all types of home renovations, such as decorating, remodeling, and repairing, was USD 15, 000 in 2020. Decorating is the most popular of the three hobbies, with 65 percent of respondents choosing it above renovations about 58 percent and repairs about 52 percent. Cities have become the primary drivers of economic growth in the United States as a result of this rising urbanization. According to the United Nations Development Program, more than two-thirds of the world's population is expected to be living in cities by 2050. In addition, for consumers, small businesses, and service providers, online sales have emerged as the fastest-growing channel for home renovation components. According to a survey on online transactions performed by ABN AMRO, the use of internet channels to sell renovation components and materials has nearly quadrupled in the last two years. To place orders and have items delivered on-site, it uses the web, mobile phones, and apps. Customers may use the service to get product information, make purchasing selections, compare prices, and monitor their orders in real-time.

Market Trends:

From 2020 to 2021, the number of searches for home remodeling has more than doubled. According to the data obtained, the house remodeling sector grew to 93% in 2021 from 39% in 2020. Searches for home appliances have grown by 26% in the previous year compared to 2020. Conversions from organic traffic increased by 12% from 2019 to 2020. As a result, the option to purchase home repair goods online and have them delivered for remodeling tasks is becoming increasingly popular. In 2022, smart houses are expected to be valued at $53.5 billion.

Home Improvement Market Segmentation Analysis

By Project, in 2020, the DIY home improvement market was valued at USD 290 billion, and it is expected to grow at a 4.5 percent CAGR through 2027. The demand for DIY home improvement solutions has risen due to the fast growth of e-commerce sales channels. DIY is preferred by the majority of customers since it saves money, provides satisfaction, and allows them to customize their projects. End users are involved in these initiatives, and no other third parties are involved. The segment's growth is expected to be boosted by the supply of psychological benefits that promote social connection, the development of numerous talents, high adaptability, and efficient resource use. By End-use, the exterior replacements end-use segment is expected to account for more than 19% of worldwide consumption during the forecast period. Because of evolving consumer attitudes toward outdoor leisure activities, this segment is expected to dominate the total home improvement market. Newly painted walls, updated window panes and doors, garden accessories, and other improvements have been made to the outside. They improve the look of the home while also improving its function and structure. Siding, for example, is a popular exterior repair among homeowners since it improves the appearance and aspect of their homes. Consumer preferences for polymer and vinyl sidings that have a similar appearance to real wood grain are expected to propel the segment forward. Home Improvement Market 1

Home Improvement Market Regional Insights

North America dominated the home improvement market in 2020. Some of the key reasons driving the growth of the home improvement market size in this region include rising expenditure on home improvement projects as a result of a preference for installing contemporary household items with attractive and appealing finishes. Home remodeling and renovations in the United States totaled approximately USD350 billion, according to Home Improvement Industry Statistics in 2020. Furthermore, according to 2016 home repair statistics, 60% of Canadian homeowners had realistic roofing renovation budgets. Latin America is expected to be the fastest-growing market by 2027, with a CAGR of 5.2 percent. The increasing popularity of coordinated sanitary goods, concept washrooms, and other fittings and accessories is expected to give a positive commercial outlook. The region's rising number of experienced retail outlets where clients may visually examine the version of their bathrooms post-renovation is expected to boost market growth during the forecast period. The surge in building activities and rising land costs have changed the inclination towards rehabilitation of existing homes, making Europe the second largest region for home improvement market. The European home improvement market is expected to generate more than USD 315.5 billion in sales during the forecast period. Smart infrastructure combined with energy-saving technologies is expected to have a substantial impact on market growth. Several citizens of Tier 1 countries, like the United Kingdom, Germany, France, Italy, Spain, and Poland, are investing heavily in digitization as part of their refurbishment initiatives to improve safety. The Middle East and Africa market is expected to grow at a CAGR of 3.6 percent during the forecast period. Rising housing prices in some rising countries, including Saudi Arabia, Turkey, and the United Arab Emirates, are expected to boost regional home renovation market growth. The rising popularity of upgrading home décor is expected to benefit the region's burgeoning home improvement market. The UAE building industry is primarily driven by significant expenditures in the residential sector. Home improvement revenues are expected to be driven by projects such as Emaar Majestic Vistas, Emaar Golfville, and Emaar Grand Bleu Tower. The objective of the report is to present a comprehensive analysis of the Home Improvement Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Home Improvement Market dynamics, structure by analyzing the market segments and project the Home Improvement Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Home Improvement Market make the report investor’s guide.

Home Improvement Market Scope:Inquire before buying

Global Home Improvement Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 762.90 Bn.
Forecast Period 2021 to 2027 CAGR: 4.4% Market Size in 2027: US $ 987.80 Bn.
Segments Covered: by Project • DIY • DIFM
by End-use • Kitchen Improvement & Additions • Bath Improvement & Additions • Exterior Replacements • Interior Replacements

Home Improvement Market by Region

• North America • Asia pacific • Europe • Middle East and Africa • South America

Home Improvement Market: Key Players

BelforCoit Services, Inc. • Crane Renovation Group • DKI Ventures, LLC • FirstService Corporation • Mr. Handyman • Power Home Remodeling Group, LLC • Rainbow Restoration • Servpro • Venturi Restoration • Pella Corporation • Kohler • ABC Supply Co. • Neil Kelly Company • Henkel Corporation • American Exteriors • Lutron Electronics • Dreamstyle Remodeling • Steves and Sons Roxul • Builders FirstSource

Frequently Asked Questions

1. What is the projected market size & growth rate of Home Improvement Market? Ans- Home Improvement Market was valued at USD 762.90 billion in 2020 and is projected to reach USD 987.80 billion by 2027, growing at a CAGR of 4.4 % during the forecast period. 2. What are the key driving factors for the growth of Home Improvement Market? Ans- The popularity of e-commerce and the availability of technologically improved system improvements are expected to drive the worldwide house Improvement market. 3. Which Region accounted for the largest Home Improvement Market share? Ans- North America dominated the home improvement market in 2020. 4. What makes Europe a Lucrative Market for Home Improvement Market? Ans- The surge in building activities and rising land costs have changed the inclination towards rehabilitation of existing homes, making Europe the second largest region for home improvement market. 5. What are the top players operating in Home Improvement Market? Ans- Belfor, Coit Services, Inc., Crane Renovation Group, DKI Ventures, LLC, FirstService Corporation, Mr. Handyman, Power Home Remodeling Group, LLC, Rainbow Restoration, and Servpro.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Home Improvement Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Home Improvement Market 3.4. Geographical Snapshot of the Home Improvement Market, By Manufacturer share 4. Home Improvement Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Home Improvement Market 5. Supply Side and Demand Side Indicators 6. Home Improvement Market Analysis and Forecast, 2020-2027 6.1. Home Improvement Market Size & Y-o-Y Growth Analysis. 7. Home Improvement Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Project,2020-2027 7.1.1. DIY 7.1.2. DIFM 7.2. Market Size (Value) Estimates & Forecast By End-use, 2020-2027 7.2.1. Kitchen Improvement & Additions 7.2.2. Bath Improvement & Additions 7.2.3. Exterior Replacements 7.2.4. Interior Replacements 8. Home Improvement Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Home Improvement Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 9.1.1. DIY 9.1.2. DIFM 9.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 9.2.1. Kitchen Improvement & Additions 9.2.2. Bath Improvement & Additions 9.2.3. Exterior Replacements 9.2.4. Interior Replacements 10. North America Home Improvement Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Home Improvement Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 11.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 12. Canada Home Improvement Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 12.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 13. Mexico Home Improvement Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 13.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 14. Europe Home Improvement Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 14.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 15. Europe Home Improvement Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Home Improvement Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 16.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 17. France Home Improvement Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 17.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 18. Germany Home Improvement Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 18.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 19. Italy Home Improvement Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 19.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 20. Spain Home Improvement Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 20.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 21. Sweden Home Improvement Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 21.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 22. CIS Countries Home Improvement Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 22.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 23. Rest of Europe Home Improvement Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 23.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 24. Asia Pacific Home Improvement Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 24.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 25. Asia Pacific Home Improvement Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Home Improvement Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 26.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 27. India Home Improvement Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 27.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 28. Japan Home Improvement Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 28.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 29. South Korea Home Improvement Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 29.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 30. Australia Home Improvement Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 30.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 31. ASEAN Home Improvement Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 31.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 32. Rest of Asia Pacific Home Improvement Market Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 32.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 33. Middle East Africa Home Improvement Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 33.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 34. Middle East Africa Home Improvement Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Home Improvement Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 35.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 36. GCC Countries Home Improvement Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 36.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 37. Egypt Home Improvement Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 37.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 38. Nigeria Home Improvement Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 38.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 39. Rest of ME&A Home Improvement Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 39.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 40. South America Home Improvement Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 40.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 41. South America Home Improvement Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Home Improvement Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 42.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 43. Argentina Home Improvement Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 43.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 44. Rest of South America Home Improvement Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Project ,2020-2027 44.2. Market Size (Value) Estimates & Forecast By End-use,2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Home Improvement Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Applications 45.2.3.2. M&A Key Players, Forward Integration and Backward Integration 45.3. Company Profile: Key Players 45.3.1. Belfor 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Belfor 45.5. Coit Services, Inc. 45.6. Crane Renovation Group 45.7. DKI Ventures, LLC 45.8. FirstService Corporation 45.9. Mr. Handyman 45.10. Power Home Remodeling Group, LLC 45.11. Rainbow Restoration 45.12. Servpro 45.13. Venturi Restoration 45.14. Pella Corporation 45.15. Kohler 45.16. ABC Supply Co. 45.17. Neil Kelly Company 45.18. Henkel Corporation 45.19. American Exteriors 45.20. Lutron Electronics 45.21. Dreamstyle Remodeling 45.22. Steves and Sons Roxul 45.23. Builders FirstSource 46. Primary Key Insights

About This Report

Report ID 122436
Category Consumer Goods & Services
Published Date Oct 2021
Updated Date
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