Home Improvement Market is predicted to reach USD 1399.117 billion at a CAGR of 5.90% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Home Improvement Market”.

The home improvement market is estimated to register a CAGR of 5.90% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global home improvement market - Home Depot, Lowe's, Canadian Tire, Inside Tweedy and Popp Hardware, Ace Hardware, Bricostore, Homebase, Wickes, Praxis, Rona, Alibaba, eBay, Bauhaus, Amazon, Bunnings Warehouse, and others.

Home Improvement Market Highlights

The global home improvement market is accounted to register a CAGR of 5.90% during the forecast period and is estimated to reach USD 1399.117 billion by 2032.

The market demand for products that provide increased comfort and convenience is influenced by a movement in consumer taste for improved home amenities. Moreover, the increasing number of market participants providing improved home technology and safety goods, as well as increased investments in R&D operations to uncover unique offers, are likely to create profitable chances for market expansion.

Access full report @ https://www.marketresearchfuture.com/reports/home-improvement-market-20673

Segment Analysis

The global home improvement market has been segmented into Project and end-use.

On the basis of project, the market is segmented into DIY and DIFM. The DIY segment was attributed to holding the largest market share in 2022. The industry will expand as a result of the younger generation's growing interest in creating new patterns and styles and remodeling their homes. To improve the aesthetic appeal of their homes, the residents of the area are adding opulent exterior and interior décor. Additionally, the growing choices and demands for professional finishing in do-it-yourself modeling projects will fuel market growth.

Based on end-use, the global home improvement market has been segmented into Kitchen Improvement & Additions, Bath Improvement & Additions, System Upgrades, Exterior Replacements, Interior Replacements, Property Improvements, Disaster Repairs, and Other Room Additions & Alterations. The exterior replacements segment was expected to hold the largest market share in 2022 due to the trend of consumers gravitating more toward outdoor recreational activities. Enhancements to the outside include garden accessories, freshly painted walls, and updated windows and doors. Along with improved structure and performance, they provide the house with a distinctive look. Siding is one of the most common exterior renovations done by homeowners to enhance the look and view of the exteriors. Growth in the market will be facilitated by changing consumer preferences for vinyl and polymer sidings that have a look akin to real wood grain.

Regional Analysis

The global home improvement market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe home improvement market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The home improvement market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World home improvement market comprises of Middle East, Africa, and Latin America.

The largest market share for home improvement was maintained by the North American regional sector. The market expansion in this area will be driven by rising expenditure on home renovation projects as a result of the improving economy and rising property prices. The increased use of new, improved, and cutting-edge materials by homeowners, interior designers, and do-it-yourselfers for a variety of remodeling and reorganization projects will propel market sales in North America.

Moreover, the Europe market has been persistently growing over the forecast period because customer tastes for environmentally friendly solutions for renovation-related projects are continuously shifting. For house renovations, people are concentrating on eco-friendly and fashionable products. Many homeowners in cities and suburbs are eager to remodel their interior spaces and renovate their homes due to their increasing purchasing power.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The growing options available to consumers for luxurious yet energy-efficient living spaces are contributing to the industry's growth. Rapid urbanization and government attempts to provide tax breaks and incentives for environmentally friendly building have led to an expansion of the sector. The region's residential development would be accelerated by the growing infrastructure developments for commercial spaces and the higher immigration rate in the two countries.

Furthermore, the rest of the world's home improvement market is divided into the Middle East, Africa, and Latin America. A major factor propelling the expansion of the home improvement market throughout the rest of the world is the increased expenditure on home renovation projects brought on by the trend of installing contemporary household products with eye-catching finishes. The need for home improvement services in the area is also being stimulated by the growing awareness of sustainability and energy efficiency.

Key Findings of the Study

• The global home improvement market is expected to reach USD 1399.117 billion by 2032, at a CAGR of 5.90% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. The growing options available to consumers for luxurious yet energy-efficient living spaces are contributing to the industry's growth.


• Based on project, the DIY segment was attributed to holding the largest market in 2022, with an approximate market share of 60%.


• Home Depot, Lowe's, Canadian Tire, Inside Tweedy and Popp Hardware, Ace Hardware, Bricostore, Homebase, Wickes, Praxis, Rona, Alibaba, eBay, Bauhaus, Amazon, Bunnings Warehouse, and others.