What is DIY Home Improvement Market?
Do-it-yourself (DIY) home improvement, a remodelling activity which is used in building maintenance, plumbing and numerous another home improvement. Of late, rapid transformations in the retail industry to interact with their customers and increased in disposable income in both developing and developed economies are the major factor in the growth of the very market.
The market study is being classified by Type (Lumber and landscape management, Décor and indoor garden, Kitchen, Painting and wallpaper, Tools and hardware, Building materials, Lighting, Plumbing and equipment, Flooring and Electrical work), by Application (Offline and Online) and major geographies with country level break-up. According to AMA, the Global DIY Home Improvement market is expected to see growth rate of 9.8% and may see market size of USD1320.0 Billion by 2027.
Home Depot (United States), Lowe’s (United States), Bunnings Building (Australia), Menards (United States), OBI (Germany), Sears (United States), Bauhaus (Germany), Canadian Tire (Canada), ADEO (France), HORNBACH (Germany), Kingfisher Plc (United Kingdom), Travis Perkins plc (United Kingdom) and Bauvista (Germany) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are EUROBAUSTOFF (Germany), Intergamma BV (Netherlands), K-GROUP (United States), Les Mousquetaires (France), The Sherwin-Williams Company (United States), Toolstation (United Kingdom) and WESFARMERS (Australia).
Research Analyst at AMA predicts that German Vendors will contribute to the maximum growth of Global DIY Home Improvement market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global DIY Home Improvement market by Type, Application and Region.
On the basis of geography, the market of DIY Home Improvement has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Lower Lending Rates Coupled with Increasing Land Costs
- Rapid Growth in Urbanization, Internal & External Migration and Increasing Employment Worldwide
Market Trend
- Favourable Government Policies and Necessity in Deduction of Electricity Bills towards Improving Energy Efficieny
- Adoption of Technological Advancements and Design Innovations in the form of New Materials, Color & Durable Finish Options in Developed Economies
Restraints
- High Cost of DIY Home Improvement Services
- Low Adoption Rate in Asian Pacific Countries Such as India, China, and Others
Opportunities
- Introduction of "Renovate Europe" Campaign to Reduce the Energy Bills in the European Union
- Growth in the Demand among the Consumers Pertaining to Fire-Rated Building Products in Developed Economies
Key Target Audience
DIY Home Improvement Service Providers, Component Manufacturers, Material Distributors/Suppliers, Government Bodies, End User and Others