Global Home Improvement Market, By Product (Building and Remodeling, Home Décor, Tools and Hardware and Outdoor Living), By Project (DIFM and DIY), By Sourcing (Homeware Stores, Franchised Stores, Specialty Stores, Online Sales Channel and Others {Direct Sellers, General Merchandised Retailers, etc.
New York, Feb. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Home Improvement Market, By Product, By Project, By Sourcing and By Region, Competition Forecast and Opportunities, 2026” – https://www.reportlinker.com/p06135069/?utm_source=GNW
}) and By Region, Competition Forecast and Opportunities, 2026
The global home improvement market was valued at USD1415.98 billion in 2021 and is expected to grow at a CAGR of 5.23% in the forecast period, 2022-2026. Increasing demand for customized interior designing by consumers, rapid urbanization, and the surge in popularity of the D-I-Y (Do it Yourself) concept are the primary factors driving the demand of the global home improvement market in the next five years.
The increase in demand for products providing enhanced comfort and convenience due to a shift in consumer preference for better home amenities influences the market demand. The rise in the number of market players introducing advanced home technology and safety products and growing investments in research and development activities to find innovative offerings is expected to create lucrative opportunities for market growth.
High internet penetration in developing countries and rapid adoption of online sales channels by the market players are expanding the consumers base and brand’s visibility to every corner of the world. Also, the availability of D-I-Y (Do it Yourself) products in the market to allow consumers to personalize the home improvement and remodeling based on their requirements is expected to bolster the global home improvement market growth in the next five years.
The global home improvement market is segmented into product, project, sourcing, region, and company.Based on product, the market is divided into building and remodeling, home décor, tools and hardware, and outdoor living.
Building and remodeling dominated the market in 2021 by holding a market share of 39.62% and is expected to maintain its dominance throughout the forecast period. The surge in expenditure capacity of consumers and growing awareness about the benefits of upgrading the kitchen, bathroom, and other essential utilities are the major factors that are expected to influence the demand for home improvement products for building and remodeling.
The Home Depot U.S.A., Inc., Lowe’s Companies, Inc., Groupe Adeo SA, Wesfarmers Limited (Bunnings Warehouse), Kingfisher Plc, Menards, Inc., Ace Hardware Corporation, OBI Group Holding SE & Co.KGaA, Hornbach Holding AG & Co. KGaA Group, and 3M Company are the major market players operating in the global home improvement market.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
• To analyze the historical growth in the market size of the global home improvement market from 2016 to 2020.
• To estimate and forecast the market size of global home improvement market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the global home improvement market based on product, project, sourcing, region, and company.
• To identify the dominant region or segment in the global home improvement market.
• To identify drivers and challenges for the global home improvement market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global home improvement market.
• To identify and analyze the profiles of leading players operating in the global home improvement market.
• To identify key sustainable strategies adopted by market players in the global home improvement market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of the global home improvement market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Home Improvement products manufacturers, distributors, and end-users
• Market research and consulting firms
• Government bodies such as regulating authorities and policymakers
• Organizations, forums, and alliances related to home improvement market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global home improvement market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Home Improvement Market, By Product:
o Building and Remodeling
o Home Décor
o Tools and Hardware
o Outdoor Living
• Global Home Improvement Market, By Project:
o DIFM
o DIY
• Global Home Improvement Market, By Region:
o North America
United States
Canada
Mexico
o Europe
Germany
United Kingdom
France
Italy
Spain
o Asia-Pacific
China
Japan
South Korea
Australia
India
o Middle East & Africa
Saudi Arabia
UAE
Egypt
South Africa
o South America
Brazil
Argentina
Chile
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global home improvement market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06135069/?utm_source=GNW
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