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Add to CartGlobal Do-It-Yourself Home Improvement Retailing Market Growth, Share, Size, Trends and Forecast (2024 - 2030)
By Product;
Tools & hardware, Decor & indoor garden , Kitchen, and Others.By Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2020 - 2030).Introduction
Global Do-It-Yourself Home Improvement Retailing Market (USD Million), 2020 - 2030
In the year 2023, the Global Do-It-Yourself Home Improvement Retailing Market was valued at USD 915,247.76 million. The size of this market is expected to increase to USD 1,204,403.61 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 4.0%.
The global do-it-yourself (DIY) home improvement retailing market has emerged as a vibrant sector driven by a combination of factors including increasing consumer interest in home renovation, the proliferation of online retail platforms, and a growing trend towards self-sufficiency in home improvement projects. This market encompasses a wide range of products and services tailored to DIY enthusiasts and homeowners seeking cost-effective and personalized solutions for their living spaces.
From basic tools and materials to advanced smart home devices, the DIY home improvement retailing market offers a diverse array of offerings catering to varying skill levels and project requirements. As urbanization rates continue to rise and homeowners seek ways to add value to their properties, the DIY home improvement retailing market is poised for further expansion globally. Advancements in technology, such as augmented reality tools for visualizing renovations and smart home integration, are driving innovation within the sector, enhancing the DIY experience and broadening its appeal.
Global Do-It-Yourself Home Improvement Retailing Market Report Snapshot
| Parameters | Description |
|---|---|
| Market | Global Do-It-Yourself Home Improvement Retailing Market |
| Study Period | 2020 - 2030 |
| Base Year (for Do-It-Yourself Home Improvement Retailing Market Size Estimates) | 2023 |
| Drivers |
|
| Restraints |
|
| Opportunities |
|
Segment Analysis
In the Global Do-It-Yourself Home Improvement Retailing Market, segmentation by product categories such as Tools and Hardware, Decor and Indoor Garden, Kitchen, and Others provides a comprehensive understanding of consumer preferences and market dynamics. Tools and hardware represent the foundation of the DIY industry, encompassing a wide range of products from power tools to hand tools essential for various home improvement projects. Decor and Indoor Garden segment caters to homeowners seeking to enhance aesthetics and create a comfortable living environment, including items like paint, wallpapers, plants, and decorative accessories. The Kitchen segment addresses the growing demand for DIY kitchen renovations and upgrades, offering appliances, fixtures, and accessories to transform culinary spaces. The 'Others' category encompasses a diverse array of DIY products spanning across multiple home improvement categories, providing additional options for consumers seeking specialized solutions.
Geographical segmentation further enriches the analysis by highlighting regional trends, consumer behaviors, and market opportunities across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America and Europe, being mature markets with established DIY cultures, witness robust demand for a wide range of home improvement products across all segments. Asia Pacific, driven by rapid urbanization and rising disposable incomes, presents significant growth potential, particularly in the Kitchen and Decor segments. Middle East and Africa demonstrate a growing interest in DIY practices, especially in Tools and Hardware, fueled by urban development initiatives. Latin America, while emerging, showcases a rising trend towards DIY home improvement, particularly in the Decor segment, driven by increasing consumer awareness and availability of affordable products. Understanding these regional nuances is crucial for retailers and stakeholders to tailor their strategies effectively, capitalize on emerging opportunities, and navigate challenges in the dynamic landscape of the global DIY home improvement retailing market.
Global Do-It-Yourself Home Improvement Retailing Segment Analysis
In this report, the Global Do-It-Yourself Home Improvement Retailing Market has been segmented by Product and Geography.
Global Do-It-Yourself Home Improvement Retailing Market, By Product
The Global Do-It-Yourself Home Improvement Retailing Market has been segmented by Product into Tools & hardware, Decor & indoor garden, Kitchen and Others.
Tools & Hardware encompass a wide range of products essential for DIY enthusiasts, including power tools, hand tools, fasteners, and building materials. This segment is fundamental for executing various projects, from simple repairs to complex renovations, and is characterized by high demand due to the essential nature of these items in DIY endeavors.
The Decor & Indoor Garden segment offers products aimed at enhancing the aesthetic appeal and functionality of living spaces. This includes items such as paint, wallpaper, lighting fixtures, indoor plants, and decorative accessories. With an increasing emphasis on personalized home decor and urban gardening trends, this segment is witnessing significant growth as consumers seek to imbue their living spaces with unique style and greenery. The Kitchen segment caters to the growing demand for DIY kitchen renovations and upgrades, offering a wide array of products ranging from cabinetry and countertops to appliances and kitchen accessories.
Global Do-It-Yourself Home Improvement Retailing Market, By Geography
In this report, the Global Do-It-Yourself Home Improvement Retailing Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Do-It-Yourself Home Improvement Retailing Market Share (%), by Geographical Region, 2023
North America stands as a mature market, driven by a strong culture of DIY enthusiasts and well-established retail networks. The region boasts a diverse range of home improvement stores, online platforms, and specialty retailers catering to the needs of DIY enthusiasts. Europe follows suit, witnessing steady growth propelled by rising urbanization rates and increasing disposable incomes. DIY home improvement retailers in Europe are focusing on enhancing customer experience, expanding product offerings, and adopting innovative marketing strategies to stay competitive in the market.
The Asia Pacific region presents lucrative opportunities for market players, fueled by rapid urban development, growing consumer awareness, and rising demand for DIY solutions. Despite being a smaller market compared to North America and Europe, Latin America and the Middle East and Africa regions showcase potential for growth with increasing urbanization rates, rising middle-class population, and a gradual shift towards DIY culture. Understanding the distinct dynamics within each region is crucial for stakeholders in the global DIY home improvement retailing market to formulate targeted strategies, capitalize on emerging trends, and unlock the full growth potential of the market.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Do-It-Yourself Home Improvement Retailing Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers
- Increasing homeownership
- Demand for budget-friendly solutions
- Better DIY tools and technology
- Influence of TV and social media - Television shows dedicated to home renovation and DIY projects have gained immense popularity, serving as a source of inspiration and education for viewers worldwide. The rise of social media platforms has further amplified the DIY trend, enabling users to share their own home improvement endeavors, exchange tips and ideas, and connect with like-minded DIY enthusiasts on a global scale.
Social media platforms serve as virtual communities where individuals can seek inspiration, seek advice, and showcase their DIY achievements, thus fostering a vibrant DIY culture. The influence of TV and social media extends beyond mere inspiration, impacting consumer behavior and purchasing decisions within the home improvement retailing market. DIY enthusiasts often turn to social media platforms to research products, seek recommendations, and discover new trends in home improvement.
Restraints
- Lack of expertise risks bad results
- Safety concerns in DIY projects
- Some tasks are too complex
- Limited tool availability - Limited availability of tools can hinder DIY enthusiasts from undertaking certain projects or completing them efficiently. This scarcity might arise due to various factors such as inadequate supply chains, distribution challenges, or insufficient variety in offerings within retail outlets. In regions where access to specialized tools is restricted, consumers may opt for simpler projects or seek alternative solutions, impacting the demand for certain DIY products and influencing market trends.
To overcome the challenge of limited tool availability, stakeholders in the Global Do-It-Yourself Home Improvement Retailing Market need to implement strategic measures. This includes investing in robust supply chains to ensure a steady flow of tools and equipment to retail outlets. Collaborations with tool manufacturers and distributors can expand the range of offerings, providing consumers with a wider selection of tools to choose from.
Opportunities
- Serve aging populations
- Offer virtual DIY guidance
- Subscription-based DIY support
- Embrace eco-friendly DIY practices - With increasing awareness of environmental sustainability, there's a growing demand for eco-conscious products and practices in home improvement. DIY retailers can capitalize on this trend by offering a wide range of environmentally friendly options, including energy-efficient appliances, sustainable building materials, and eco-friendly paints and finishes.
By promoting these products and providing resources on eco-friendly DIY techniques, retailers can cater to the environmentally conscious consumer segment and differentiate themselves in the market. DIY enthusiasts are increasingly seeking ways to minimize waste, conserve resources, and lower energy consumption in their home improvement projects. Retailers can support these efforts by providing educational materials, workshops, and product recommendations that promote sustainable practices.
Competitive Landscape Analysis
Key players in Global Do-It-Yourself Home Improvement Retailing Market include
- ADEO
- BAUHAUS E-Business GmbH & Co. KG
- Home Depot Product Authority LLC
- Kesko Corp.
- Kingfisher plc
- Lowe's Companies Inc.
- Toolstation Ltd.
- Travis Perkins Plc
- Walmart Inc.
- Wesfarmers Ltd.
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Region
- Do-It-Yourself Home Improvement Retailing Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing homeownership
- Demand for budget-friendly solutions
- Better DIY tools and technology
- Influence of TV and social media
- Restraints
- Lack of expertise risks bad results
- Safety concerns in DIY projects
- Some tasks are too complex
- Limited tool availability
- Opportunities
- Serve aging populations
- Offer virtual DIY guidance
- Subscription-based DIY support
- Embrace eco-friendly DIY practices
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Do-It-Yourself Home Improvement Retailing Market, By Product, 2020 - 2030 (USD Million)
- Tools & hardware
- Decor & indoor garden
- Kitchen
- Others
- Do-It-Yourself Home Improvement Retailing Market, By Geography, 2020 - 2030 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Do-It-Yourself Home Improvement Retailing Market, By Product, 2020 - 2030 (USD Million)
- Competitive Landscape Analysis
- Company Profiles
- ADEO
- BAUHAUS E-Business GmbH & Co. KG
- Home Depot Product Authority LLC
- Kesko Corp.
- Kingfisher plc
- Lowe's Companies Inc.
- Toolstation Ltd.
- Travis Perkins Plc
- Walmart Inc.
- Wesfarmers Ltd.
- Company Profiles
- Analyst Views
- Future Outlook of the Market
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