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Enhancing Your Home From 2024–2031, the market is predicted to grow at a CAGR of more than 6.3%, reaching a value of more than USD 762.49 billion. The growing demand for high-quality, eco-friendly homes is one of the main factors propelling the sector forward. The industry has been driven by the increasing number of green buildings being constructed, as well as government programs that offer tax credits and incentives for such projects. Home remodeling activities will be propelled globally by the importance of e-commerce and the availability of technologically enhanced system upgrades.
Smart kitchens are becoming more popular in home renovations as a result of the rising need for convenient accessories like self-regulating dispensers, motion-sensitive water faucets, and one-touch features on refrigerators. New appliance styles and preferences, efficient storage cabinetry, hardwood flooring, backsplash trends, and an outdoor space that is both beautiful and functional will all contribute to the industry's bright future. Millennials are spending more on home repair projects due to factors including increasing mortgage and interest rates and soaring new property prices.
One of the most popular types of home automation systems among homeowners is the integrated system. Users are able to gain full access to their homes through a centralized touch screen panel, which greatly improves accessibility, convenience, and security. Lights, music, video, cameras, HVAC, and door access may all be controlled from central panels thanks to the Internet of Things. Connectivity to security systems also allows for remote monitoring of a whole property using mobile apps on cellphones and tablets. Since these things are in place, the home improvement industry will continue to grow.
Directly affecting production and demand, disrupting supply chains and marketplaces, and financially damaging enterprises and financial markets are the three potential worldwide economic implications of COVID-19. Our global situation monitoring analysts have come to the conclusion that, in the aftermath of the COVID-19 crisis, producers would find attractive prospects in the market.
Simple accessories like self-regulating dispensers, motion-sensing water faucets, and chillers with a one-touch function are driving the increasing popularity of smart kitchens in home improvement. In addition, the following factors are anticipated to propel the market expansion: new appliance types and preferences, efficient storage cabinets, hardwood flooring, backsplash trends, and an efficient connection to the outdoors. Spending on home improvements is on the rise among millennials due to skyrocketing mortgage and interest rates and new home prices.
Among the most popular technologies, integrated home control systems are rapidly gaining popularity among homeowners. By centralizing home control on a single touchscreen, the technology enhances accessibility, simplicity, and security. Internet of Things integration has allowed for the linking of many systems within the building, including lighting, audio, video, cameras, HVAC, and door access, all controlled by panels strategically placed throughout. In addition, by connecting the security system, it is feasible to keep tabs on an entire property from anywhere using apps for smartphones and tablets. The home improvement market is anticipated to be propelled forward by these causes.
In recent years, internet sales of home improvement components have surpassed all others, especially among individuals, small businesses, and service providers. Using internet channels to sell remodeling components and supplies has nearly quadrupled over the past two years, according to a study on online transactions done by ABN AMRO. It takes advantage of the web, mobile phones, and apps to arrange for on-site goods delivery. With this service, online customer support can access product information, make purchase decisions, compare prices, and track orders in real-time.
In 2023, the home improvement market was largely driven by North America. The increasing demand for modern home furnishings with aesthetically pleasing finishes, together with rising spending on home renovation projects, are some of the main factors fueling the expansion of the home improvement market size in this region. Home Improvement Industry Statistics estimates that in 2023, the US market for home renovations and remodels was around USD350 billion.
Report Coverage
Global Home Improvement research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Home Improvement report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Home Improvement competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Home Improvement market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Home Improvement market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Home Improvement market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sherwin-Williams Company, The Home Depot, Ferguson Enterprises, Andersen Corporation, DuPont de Nemours, Watsco, Inc., Beacon Roofing Supply, Pella Corporation, Kohler, ABC Supply Co., Neil Kelly Company, Henkel Corporation, American Exteriors, Lutron Electronics, Dreamstyle Remodeling, Steves and Sons Roxul, Builders FirstSource, Masco Corporation, Keller Supply Company, Case Design/Remodeling, Robert Bowden, APCO Industries, Boral Building Products, Harvey Building Products, State-wide Remodeling, Owens Construction, M S International, Kingfisher, Power Home Remodeling Group.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Home Improvement market based on the below-mentioned segments:
Global Home Improvement Market, By Project
DIY
DIFM
Global Home Improvement Market, By End User
Kitchen Improvement & Additions
Bath Improvement & Additions
System Upgrades
Exterior Replacements
Interior Replacements
Property Improvements
Disaster Repairs
Other Room Additions & Alterations
Global Home Improvement market, Regional Analysis
Smart kitchens are becoming more popular in home renovations as a result of the rising need for convenient accessories like self-regulating dispensers, motion-sensitive water faucets, and one-touch features on refrigerators. New appliance styles and preferences, efficient storage cabinetry, hardwood flooring, backsplash trends, and an outdoor space that is both beautiful and functional will all contribute to the industry's bright future. Millennials are spending more on home repair projects due to factors including increasing mortgage and interest rates and soaring new property prices.
One of the most popular types of home automation systems among homeowners is the integrated system. Users are able to gain full access to their homes through a centralized touch screen panel, which greatly improves accessibility, convenience, and security. Lights, music, video, cameras, HVAC, and door access may all be controlled from central panels thanks to the Internet of Things. Connectivity to security systems also allows for remote monitoring of a whole property using mobile apps on cellphones and tablets. Since these things are in place, the home improvement industry will continue to grow.
Directly affecting production and demand, disrupting supply chains and marketplaces, and financially damaging enterprises and financial markets are the three potential worldwide economic implications of COVID-19. Our global situation monitoring analysts have come to the conclusion that, in the aftermath of the COVID-19 crisis, producers would find attractive prospects in the market.
Simple accessories like self-regulating dispensers, motion-sensing water faucets, and chillers with a one-touch function are driving the increasing popularity of smart kitchens in home improvement. In addition, the following factors are anticipated to propel the market expansion: new appliance types and preferences, efficient storage cabinets, hardwood flooring, backsplash trends, and an efficient connection to the outdoors. Spending on home improvements is on the rise among millennials due to skyrocketing mortgage and interest rates and new home prices.
Among the most popular technologies, integrated home control systems are rapidly gaining popularity among homeowners. By centralizing home control on a single touchscreen, the technology enhances accessibility, simplicity, and security. Internet of Things integration has allowed for the linking of many systems within the building, including lighting, audio, video, cameras, HVAC, and door access, all controlled by panels strategically placed throughout. In addition, by connecting the security system, it is feasible to keep tabs on an entire property from anywhere using apps for smartphones and tablets. The home improvement market is anticipated to be propelled forward by these causes.
In recent years, internet sales of home improvement components have surpassed all others, especially among individuals, small businesses, and service providers. Using internet channels to sell remodeling components and supplies has nearly quadrupled over the past two years, according to a study on online transactions done by ABN AMRO. It takes advantage of the web, mobile phones, and apps to arrange for on-site goods delivery. With this service, online customer support can access product information, make purchase decisions, compare prices, and track orders in real-time.
In 2023, the home improvement market was largely driven by North America. The increasing demand for modern home furnishings with aesthetically pleasing finishes, together with rising spending on home renovation projects, are some of the main factors fueling the expansion of the home improvement market size in this region. Home Improvement Industry Statistics estimates that in 2023, the US market for home renovations and remodels was around USD350 billion.
Report Coverage
Global Home Improvement research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Home Improvement report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Home Improvement competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Home Improvement market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Sherwin-Williams Company, The Home Depot, Ferguson Enterprises, Andersen Corporation, DuPont de Nemours, Watsco, Inc., Beacon Roofing Supply, Pella Corporation, Kohler, ABC Supply Co., Neil Kelly Company, Henkel Corporation, American Exteriors, Lutron Electronics, Dreamstyle Remodeling, Steves and Sons Roxul, Builders FirstSource, Masco Corporation, Keller Supply Company, Case Design/Remodeling, Robert Bowden, APCO Industries, Boral Building Products, Harvey Building Products, State-wide Remodeling, Owens Construction, M S International, Kingfisher, Power Home Remodeling Group. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Home Improvement Market from 2021 to 2031.
- Market Forecast for Home Improvement Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Home Improvement competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Home Improvement
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Home Improvement market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Home Improvement market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sherwin-Williams Company, The Home Depot, Ferguson Enterprises, Andersen Corporation, DuPont de Nemours, Watsco, Inc., Beacon Roofing Supply, Pella Corporation, Kohler, ABC Supply Co., Neil Kelly Company, Henkel Corporation, American Exteriors, Lutron Electronics, Dreamstyle Remodeling, Steves and Sons Roxul, Builders FirstSource, Masco Corporation, Keller Supply Company, Case Design/Remodeling, Robert Bowden, APCO Industries, Boral Building Products, Harvey Building Products, State-wide Remodeling, Owens Construction, M S International, Kingfisher, Power Home Remodeling Group.
Primary Target Market
- Market Players of Home Improvement
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Home Improvement market based on the below-mentioned segments:
Global Home Improvement Market, By Project
DIY
DIFM
Global Home Improvement Market, By End User
Kitchen Improvement & Additions
Bath Improvement & Additions
System Upgrades
Exterior Replacements
Interior Replacements
Property Improvements
Disaster Repairs
Other Room Additions & Alterations
Global Home Improvement market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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Through INFINITIVE Data Expert is a professional Market Research services, I will identify the home improvement market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.