Home Improvement Market Size, By Project (DIY, DIFM), By End Use, Region, and Forecast 2024 - 2032

Home Improvement Market Size, By Project (DIY, DIFM), By End Use, Region, and Forecast 2024 - 2032

Home Improvement Market size is projected to record 6% CAGR from 2024 to 2032, driven by increasing acquisitions and partnerships among companies.

Of late, several businesses are acquiring smaller firms to broaden their service offerings and enhance their capabilities for creating more comprehensive solutions for homeowners. Partnerships are helping to integrate design, construction, and renovation services for providing a more seamless and efficient experience. These strategic moves are also simplifying the home improvement process and expanding the range of available options. For instance, in May 2024, Hudson Glade acquired Essential Home Services Provider Quality First Home Improvement to enhance its service offerings and expand capabilities in the home improvement sector for providing more comprehensive and integrated solutions for homeowners.

The overall market is segregated into project, end use, and region.

In terms of project, the DIFM segment in the home improvement market will experience significant growth by 2032, propelled by the increasing need to enhance effectiveness. Homeowners are opting for DIFM services, where professionals manage design, planning, and execution to ensure a hassle-free experience. This approach is also simplifying home improvement projects by removing the complexities typically associated with DIY efforts and providing expertise and efficiency.

By end use, the home improvement industry from the interior replacements segment is projected to rise from 2024 to 2032, driven by increasing consumer demand for upgrading and modernizing various indoor elements. Homeowners are engaging in replacing outdated fixtures, flooring, cabinetry, and appliances to enhance aesthetic appeal and functionality. Consequently, interior replacements are incorporating advanced materials and smart home features to transform interior spaces, adding to the segment growth.

Regionally, the Europe home improvement market size is projected to exhibit robust CAGR between 2024 and 2032, due to various economic factors. Homeowners are investing in renovations and upgrades as a response to the rising property values and increased disposable incomes for enhancing living conditions and increasing home value. Rising innovations in financial solutions, such as flexible financing options and incentives for energy-efficient upgrades will further support and drive the preference for home improvement activities in the region.