Do-it-Yourself (DIY) Home Improvement Retailing

Do-it-Yourself (DIY) Home Improvement Retailing

Global Do-it-Yourself (DIY) Home Improvement Retailing Market to Reach US$959.1 Billion by 2030

The global market for Do-it-Yourself (DIY) Home Improvement Retailing estimated at US$791.3 Billion in the year 2023, is expected to reach US$959.1 Billion by 2030, growing at a CAGR of 2.8% over the analysis period 2023-2030. Lumber & Landscape Management Products, one of the segments analyzed in the report, is expected to record a 2.8% CAGR and reach US$225.6 Billion by the end of the analysis period. Growth in the Tools & Hardware Products segment is estimated at 3.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$215.6 Billion While China is Forecast to Grow at 5.4% CAGR

The Do-it-Yourself (DIY) Home Improvement Retailing market in the U.S. is estimated at US$215.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$192.6 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.8% and 2.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.

Do-it-Yourself (DIY) Home Improvement Retailing - Key Trends and Drivers

Do-it-yourself (DIY) home improvement retailing has become a significant segment of the retail industry, offering consumers a wide range of products and materials needed to undertake home improvement projects on their own. These retail stores provide everything from basic tools, paint, and hardware to more specialized items like plumbing fixtures, electrical supplies, and building materials. The appeal of DIY home improvement lies in the combination of cost savings and the satisfaction derived from personal accomplishment. Retailers in this sector, such as Home Depot, Lowe`s, and smaller independent stores, cater to a broad customer base, including homeowners looking to tackle minor repairs, ambitious renovators, and hobbyists seeking to enhance their living spaces. These retailers often provide additional services, such as workshops, expert advice, and rental tools, to support customers in their projects.

Technological advancements have played a crucial role in the evolution of DIY home improvement retailing. The advent of e-commerce platforms has revolutionized the way consumers shop for home improvement products, offering the convenience of online browsing and purchasing. Many retailers have developed robust online presences, complete with detailed product descriptions, customer reviews, and instructional videos. Augmented reality (AR) and virtual reality (VR) technologies are being utilized to help customers visualize their projects and make more informed purchasing decisions. In-store technologies, such as self-checkout kiosks and mobile payment options, have streamlined the shopping experience. Additionally, the integration of smart home technologies into product offerings has expanded the range of available products, enabling consumers to incorporate the latest innovations into their home improvement projects.

The growth in the DIY home improvement retailing market is driven by several factors. The increasing trend towards homeownership and the desire to personalize living spaces are primary drivers, as more people seek to invest in and enhance their homes. Economic factors, such as the rising cost of professional labor and materials, are encouraging more individuals to undertake projects themselves to save money. The proliferation of home improvement shows and online tutorials has also played a significant role, inspiring and educating consumers on how to tackle various projects. Technological advancements that improve the shopping experience and provide access to a wider range of products are further propelling market growth. Additionally, the COVID-19 pandemic has led to a surge in DIY activities, as people spend more time at home and seek productive and fulfilling ways to improve their living environments. These factors collectively ensure robust growth in the DIY home improvement retailing market, meeting the evolving needs and preferences of a diverse consumer base.

Select Competitors (Total 86 Featured) -

• Ace Hardware Corporation
• ADEO
• Amazon.com, Inc.
• BayWa Bau- & GartenmA¤rkte GmbH & Co.KG
• Flipkart Internet Pvt Ltd
• Grafton Group PLC
• hagebau connect GmbH & Co. KG
• Home Depot Inc.
• HORNBACH Holding AG and Co. KGaA
• Intergamma BV
• Kesko Corporation
• Lowe`s Companies, Inc.
• Walmart, Inc.
• Wesfarmers Ltd.
• Wickes Group Plc;

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