|Study Period:||2017- 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The DIY home improvement market is projected to register a CAGR greater than 3% during the forecast period, 2021-2026.
The industry for do-it-yourself (DIY) home improvement retailing has observed a notable growth during the COVID-19 pandemic. DIYers in developed and developing countries are investing time to complete home improvement projects as majority of the people are under COVID-19 lockdown. Majority of the DIYers are engaged in gardening practices to enhance customers’ living space to keep them entertained during the lockdown situation. Such factors are driving the demand for DIY products amid COVID-19.
Do-it-yourself (DIY) is the activity of designing and modifying any project yourself. This technique allows customers to develop eye-catching projects without any professional help. It is a comprehensive term that mainly refers to developing or modifying innovative products like shoe holders, letter boards, wall painting, and many others. DIY home improvement products that are used in building maintenance, plumbing, and other home improvement purposes are considered the target products of the market. DIY home improvement products and activities allow homeowners to execute tasks by themselves with the help of DIY home improvement tools, equipment, and appliances. The changes in lifestyles have increased interest in DIY interior designing. Moreover, in the developing regions, the growing population of working women and their participation in the decision-making process for home decoration are also boosting the sales of products required for such projects. Subsequently, there is increasing adoption of DIY home improvement products. The use of DIY products lowers long-term costs than work outsourced to expensive labor. Therefore, the demand for DIY home improvement products is a major factor driving the market studied.
Scope of the Report
"Do-it-yourself" ("DIY") is the method of building, modifying, or repairing things without the direct aid of experts or professionals. A complete background analysis of the DIY home improvement market, including the assessment of the economy and contribution of the sectors in the economy, market overview, market size estimation for key segments and emerging trends in the market segments, market dynamics and insights, and key statistics, is covered in the report. The Market Is Segmented By Product Type (Lumber and Landscape Management, Décor and Indoor Garden, Kitchen, Painting and Wallpaper, Tools and Hardware, Building Materials, Lighting, Plumbing and Equipment, Flooring, Repair and Replacement, and Electrical Work), By Distribution Channel (DIY Home Improvement Stores, Specialty Stores, Online, Furniture, and Other Physical Stores), and By Geography (North America, South America, Europe, Asia-Pacific, and Middle-East and Africa).
|Lumber and Landscape Management|
|Decor and Indoor Garden|
|Painting and Wallpaper|
|Tools and Hardware|
|Plumbing and Equipment|
|Flooring, Repair, and Replacement|
|DIY Home Improvement Stores|
|Furniture and Other Physical Stores|
|Middle-East and Africa|
Key Market Trends
DIY Shops are Preferable Distribution Channels
As a majority of DIY resources are online, in-store display plays a major role in how DIY consumers learn to manage DIYs. Big-box retailers have seen a boost in sales by implementing these tactics, and these are also just as useful for small and local home improvement businesses. Most often, small businesses excel over the big box stores in terms of customer service and store-consumer relationships. 82% of all DIYers are likely to explore products in the store, even if the final purchase is made online, and millennial DIYers are more likely to seek the product and make the final purchase of quality products in-store, especially for products like paint.
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North America and Europe Account for the Largest Market Shares
In 2019, the DIY home improvement world market turnover reached EUR 618 billion, breaking through the EUR 600 billion ceiling. North America and Europe combined represent approximately 86.6% of this market, although their joint population accounts for only 16% of the world population. The DIY markets of these two continents sum up to EUR 535 billion. North America and Europe reach 58% and 28% of the world market, respectively. North America had the highest average DIY expenditure per capita in 2019 at EUR 972.
Approximately 81% of the DIY market (EUR 502.2 billion) is concentrated in only eight countries, the United States, Germany, Canada, Japan, the United Kingdom, France, Australia, and Italy. Moreover, the three major DIY markets in Europe (Germany, France, and the United Kingdom) represent 50% of the continent's market.
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The report covers major international players operating in the DIY home improvement market. In terms of market share, few of the major players currently dominate the market studied. However, the demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.
- In February 2021, The Home Depot recently opened a new distribution center in Dallas, Texas, focused on the fast fulfillment of online orders. The new 1.5 million-square-foot facility will deliver millions of online products directly to customers' homes or for pickup at local stores.
- In December 2020, the DIY giant Lowe’s invests in the solar power initiative. Lowe’s is partnering with Swift Current Energy, a leading North American renewable energy company, to purchase 250 megawatts of clean electricity per year from the Black Diamond Solar Project in Illinois. The commitment will last 12 years.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Lumber and Landscape Management
5.1.2 Decor and Indoor Garden
5.1.4 Painting and Wallpaper
5.1.5 Tools and Hardware
5.1.6 Building Materials
5.1.8 Plumbing and Equipment
5.1.9 Flooring, Repair, and Replacement
5.1.10 Electrical Work
5.2 Distribution Channel
5.2.1 DIY Home Improvement Stores
5.2.2 Specialty Stores
5.2.4 Furniture and Other Physical Stores
5.3.1 North America
5.3.4 South America
5.3.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Groupe ADEO
6.1.2 Home Depot
6.1.3 Lowe's Companies Inc.
6.1.6 Ace Hardware
6.1.7 Travis Perkins
6.1.8 Kingfisher PLC
6.1.9 Hornbach Holding
6.1.11 Obi (Tengelmann)
6.1.14 Crate and Barrel
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global DIY Home Improvement Market market is studied from 2017 - 2026.
What is the growth rate of Global DIY Home Improvement Market?
The Global DIY Home Improvement Market is growing at a CAGR of >3% over the next 5 years.
Which region has highest growth rate in Global DIY Home Improvement Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global DIY Home Improvement Market?
North America holds highest share in 2020.
Who are the key players in Global DIY Home Improvement Market?
Lowe's, Menard Inc., Walmart Inc., ADEO, The Home Depot are the major companies operating in Global DIY Home Improvement Market.