Home Improvement Demand is Predicted to Exhibit Expansion at a CAGR of 6.7% Over 2030

Published April 21, 2023

The global home improvement market in 2022 is valued at US$ 342 billion and is predicted to exhibit expansion at a CAGR of 6.7% over the next eight years. Fact.MR predicts the market to attain a revenue of US$ 575.5 billion by the end of 2030.

DIY home remodelling and renovations are anticipated to witness high demand owing to the rising availability of DIY home improvement products and the increasing adoption of easy add-ons.

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How is the Real Estate Sector Augmenting Demand for Home Improvement?

The real estate sector is witnessing a major shift in the way people perceive their homes. Home improvement has become an integral part of the real estate sector, and it is a trend that is only increasing in popularity. Home improvement projects such as remodeling, renovating, and adding new décor and features to a home have become commonplace in the real estate sector. This heightened demand for home improvement is being driven by a number of factors.

First and foremost, the real estate sector is responding to changing consumer preferences. As people become more conscious of their lifestyle choices and of the environment, they are opting for more sustainable and energy-efficient housing solutions. Home improvement projects such as the installation of energy-efficient windows and doors, insulation, and high-efficiency home appliances are in high demand.

At the same time, more and more people are looking for ways to make their homes more stylish and comfortable. Home improvement projects such as kitchen and bathroom remodeling, as well as the addition of hardwood flooring and other aesthetic features, are becoming much more common. Additionally, many home improvement projects are also being driven by the desire to increase the value of one’s home.

In conclusion, the real estate sector is responding to changing consumer demands, and the demand for home improvement projects is only increasing. Home improvement projects can help to make a home more comfortable, stylish, and energy-efficient, while also increasing its value. As such, the real estate sector is continuing to augment the demand for home improvement, providing both homeowners and buyers with a greater variety of housing solutions.

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Competitive Landscape

Companies in the home improvement market are expected to improve their business scope by deploying new services such as same-day delivery for home improvement products. For instance,

  • In February 2022, Lowe’s Companies Inc., an American company specializing in home improvement, announced a new partnership with an online grocery delivery platform, Instacart. Through this partnership, the company will provide same-day delivery of its home improvement products in the North American region.

Key Companies Profiled:

  • Sherwin-Williams Company
  • DuPont de Nemours
  • Watsco Inc.
  • Robert Bowden
  • ABC Supply Co.
  • Neil Kelly Company
  • Henkel Corporation
  • Andersen Corporation
  • The Home Depot
  • American Exteriors

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Key Questions Covered in the Home Improvement Market Report

  • What is the projected value of the Home Improvement factors Industry in 2022?
  • At what rate will the global Home Improvement factors market size grow until 2030?
  • Which are the factors hampering the growth of Home Improvement factors?
  • Which region is expected to lead in the global Home Improvement factors market By 2030?
  • Which are the factors driving the Home Improvement factors Industry during the forecast period?
  • What is the expected market value of the Home Improvement factors market during the forecast period?

Regional Analysis For Home Improvement Market:

  • APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
  • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
  • North America (USA, Canada and Mexico)
  • South America (Brazil, Chile, Argentina, Rest of South America)
  • MEA (Saudi Arabia, United Arab Emirates, South Africa)

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