PUBLISHER: The Business Research Company | PRODUCT CODE: 1559147
PUBLISHER: The Business Research Company | PRODUCT CODE: 1559147
Do-it-yourself (DIY) home improvement retailing involves the sale of products and supplies that enable consumers to undertake home improvement projects on their own, without the need for professional help. These retailers provide a broad range of tools, materials, and expertise to assist customers in renovating, maintaining, and enhancing their homes according to their personal preferences and skills. They focus on affordability, convenience, and empowerment, allowing homeowners to customize their living spaces and achieve their desired results.
The main product categories in the DIY home improvement retailing market include lumber and landscape management, tools and hardware, decor and indoor gardening, kitchen supplies, lighting, and other items. Lumber and landscape management covers sustainable practices for lumber production and distribution, as well as the planning and upkeep of outdoor spaces to improve their health and visual appeal. Applications span residential and commercial settings, and distribution channels include both offline and online platforms.
The do-it-yourself home improvement retailing market research report is one of a series of new reports from The Business Research Company that provides do-it-yourself home improvement retailing market statistics, including the do-it-yourself home improvement retailing industry global market size, regional shares, competitors with do-it-yourself home improvement retailing market share, detailed do-it-yourself home improvement retailing market segments, market trends, and opportunities, and any further data you may need to thrive in the do-it-yourself home improvement retailing industry. These do-it-yourself home improvement retailing market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The do-it-yourself home improvement retailing market size has grown strongly in recent years. It will grow from $807.6 billion in 2023 to $863.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth during the historic period can be attributed to the rising popularity of DIY projects, increased demand for personalized interior design, shifts in lifestyle changes, greater involvement of working women in home decoration, a surge in cost-conscious consumers, and the expansion of the residential real estate industry.
The do-it-yourself home improvement retailing market size is expected to see strong growth in the next few years. It will grow to $1,134.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth during the forecast period can be linked to several factors, including the expansion of online sales channels, increased adoption of wooden furnishings, a growing demand for personalized lawn management, the rising popularity of DIY products, and the emergence of DIY-focused social media platforms and online tutorials. Key trends expected during this period include the integration of smart home technology, a focus on sustainability and eco-friendly products, the rise of personalized and niche market products, advancements in AR-based virtual previews of furniture and decor, and innovations in personalized interior design.
The growth of e-commerce is expected to boost the do-it-yourself (DIY) home improvement retailing market moving forward. The expansion of e-commerce is fueled by the widespread use of smartphones and internet access, which offer consumers convenience and a wide range of product options. This growth in e-commerce benefits the DIY home improvement sector by providing customers with better access to various products, detailed tutorials, and convenient shipping options, thereby encouraging more home renovation projects and driving market expansion. For example, in May 2024, the Census Bureau of the Department of Commerce reported that U.S. retail e-commerce sales reached $289.2 billion in the first quarter of 2024, marking a 2.1% increase from the fourth quarter of 2023. Thus, the rise in e-commerce is fueling the growth of the DIY home improvement retailing market.
Leading companies in the DIY home improvement retailing market are focusing on technological advancements, such as integrating augmented reality (AR) and data analysis into their stores to enhance customer engagement, improve product visualization, and optimize inventory management. AR technology enhances the shopping experience by adding digital overlays, such as visual guides and product demonstrations, to the physical store environment. For instance, in September 2022, Lowe's Inc., a U.S.-based home improvement and retail company, introduced an interactive digital twin of its store, built using NVIDIA's Omniverse. This virtual replica combines spatial data with product location and order history in a 3D visual format, accessible on devices ranging from desktops to AR headsets. This allows Lowe's associates to interact with store data more effectively, improving operations and better meeting customer needs.
In April 2024, United Hardware, a U.S.-based hardware company, merged with Do it Best for an undisclosed amount. This merger aims to form one of the largest cooperatives in the home improvement industry, offering a comprehensive range of programs and services to support independent home improvement business owners. Do it Best is a U.S.-based hardware store providing DIY products, including hardware, lumber, and building materials.
Major companies operating in the do-it-yourself home improvement retailing market are Amazon.com Inc., The Home Depot Inc., Lowe's Companies Inc., IKEA, Groupe Adeo SA, Wesfarmers Limited, BayWa AG, Tractor Supply Company, Menard Inc., Bunnings Group Limited, OBI Group Holding SE and Co. KGaA, Ace Hardware Corporation, Toolstation Limited, HORNBACH Holding AG and Co. KGaA, Flipkart Private Limited, Home Hardware Stores Ltd., Grafton Group plc, Maxeda DIY Group B.V., Mr D.I.Y. Group, Castorama, Brico BricoPlanit, REWE Group, UBUY Inc., Wickes Group Plc, Praktiker AG
North America was the largest region in the do-it-yourself home improvement retailing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the do-it-yourself home improvement retailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the do-it-yourself home improvement retailing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The do-it-yourself home improvement retailing market consists of revenues earned by entities by providing services such as product sales, customer assistance, instruction and workshops, design services, delivery and installation, and customer support. The market value includes the value of related goods sold by the service provider or included within the service offering. The do-it-yourself home improvement retailing market also includes sales of building materials, paint and supplies, plumbing, electrical, flooring, windows and doors, automotive, diy kits, and projects. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Do-It-Yourself Home Improvement Retailing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on do-it-yourself home improvement retailing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for do-it-yourself home improvement retailing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The do-it-yourself home improvement retailing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.