Sweden DIY Home Improvement - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The Sweden DIY Home Improvement Market size is estimated at USD 14.88 billion in 2024, and is expected to reach USD 18.69 billion by 2029, growing at a CAGR of 4.67% during the forecast period (2024-2029).
In recent years, there is a significant growth in the Swedish DIY market. People in Sweden includes a strong DIY culture and take pride in improving their homes themselves. It led to the establishment of numerous retail stores that cater to the needs of DIY enthusiasts. The availability of a wide range of DIY products and tools made it easier for people to undertake home improvement projects.
The rising interest influenced the DIY market in Sweden in sustainable and eco-friendly solutions. Many DIY stores now offer environmentally friendly products to meet the demand. In Sweden, the growing popularity of smart kitchens in home renovations is due to rising demand for simple add-ons like self-regulating dispensers, motion-sensing water faucets, and chillers with a one-touch function. Additionally, efficient storage cabinetry, new appliance types and preferences, hardwood flooring, backsplash trends, and an efficient link to the outdoors contribute to the industry's favorable outlook. Soaring mortgage and interest rates and rising new house costs are pushing millennial spending on home improvements.
Sweden DIY Home Improvement Market Trends
Increasing Number of DIY Retail Stores in Sweden
DIY retail stores offer a wide range of products and materials for home improvement projects, making it easier for consumers to access the tools and supplies they need. The expansion of DIY retail stores made home improvement products more accessible to a larger number of consumers. With more stores opening up in various locations across Sweden, people include greater convenience and options for purchasing tools, materials, and equipment needed for their DIY projects. This accessibility encouraged more individuals to engage in DIY home improvement activities. The growth of DIY retail stores contributed to the development of a thriving DIY culture in Sweden. As more people engage in DIY activities, there is a greater demand for home improvement products and services. This cultural shift is also influenced by social media platforms and online communities, where individuals share their projects and inspire others to embark on their own DIY ventures.
Rapid Urbanization and Population Growth are Accelerating the Market
The expanding population, which is boosting building activity throughout the residential sector as more housing units are required to fulfill the growing population's housing demands, is one of the primary drivers driving market expansion in Sweden over the next five years. Likewise, increased building activities in Sweden are expected to stimulate home improvement demand in the future years. 88% of Sweden's population lives in cities. Rising urbanization is expected to increase market growth potential for vendors and manufacturers. As the population of cities grows, so will the need for residential spaces. It will drive up the demand for DIY home improvement.
Sweden DIY Home Improvement Industry Overview
The Sweden DIY home improvement market is fragmented, with many small and mid-sized companies. To accommodate the increased demand for low-cost DIY items, several local market participants are rapidly expanding their market presence. They're also putting money into research and development, with an emphasis on product creation, frequent new products, and expanded product availability, as well as pricing and mergers and acquisitions plans. Some of the major players include Dahl Sverige Aktiebolag, Optimera Svenska AB, Solar Sverige Aktiebolag, AB Karl Hedin Bygghandel, and Onninen Aktiebolag.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
- 1 INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increasing Interest in Home Renovation and Personalization
- 4.3 Market Restraints
- 4.3.1 Lack of Expertise and Skills
- 4.4 Market Opportunities
- 4.4.1 Increasing Popularity of Smart Devices is Creating an Opportunity
- 4.5 Value Chain / Supply Chain Analysis
- 4.6 Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights on Various Regulatory Trends
- 4.8 Insights on Impact of Technology and Innovation
- 4.9 Impact of COVID-19 on the Market
- 5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Lumber and Landscape management
- 5.1.2 Decor and Indoor Garden
- 5.1.3 Kitchen
- 5.1.4 Painting and Wallpaper
- 5.1.5 Tools and Hardware
- 5.1.6 Building Materials
- 5.1.7 Ligthing
- 5.1.8 Plumbing and Equipment
- 5.1.9 Flooring, Repair and Replacement
- 5.1.10 Electric Work
- 5.2 By Distribution Channel
- 5.2.1 DIY Home Improvement Stores
- 5.2.2 Speciality Stores
- 5.2.3 Online
- 5.2.4 Others
- 6 COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
- 6.2 Company Profiles
- 6.2.1 Dahl Sverige Aktiebolag
- 6.2.2 Optimera Svenska AB
- 6.2.3 Solar Sverige Aktiebolag
- 6.2.4 AB Karl Hedin Bygghandel
- 6.2.5 Onninen Aktiebolag
- 6.2.6 Bygma AB
- 6.2.7 Villeroy & Boch Gustavsberg AB
- 6.2.8 Geberit Aktiebolag
- 6.2.9 LK Systems AB
- 6.2.10 Lundagrossisten Bo Johansson Aktiebolag
- 6.2.11 Eksjohus Aktiebolag
- 6.2.12 Svedbergs i Dalstorp AB*
- 7 MARKET FUTURE TRENDS
- 8 DISCLAIMER AND ABOUT US
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