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Home Improvement Market Research Report: By Product Type (Kitchen Fixtures, Bathroom Fixtures, Flooring, Paints and Coatings, Home Décor), By Application (Remodeling, Repair, Maintenance, New Construction), By Distribution Channel (Online, Retail Stores, Wholesale, Direct Sales), By End User (Homeowners, Contractors, Real Estate Developers) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa)- Forecast to 2035.


ID: MRFR/CR/19125-HCR | 128 Pages | Author: Varsha More| April 2025

Home Improvement Market Overview


The Home Improvement Market Size was estimated at 870.28 (USD Billion) in 2023. The Home Improvement Market Industry is expected to grow from 893.86(USD Billion) in 2024 to 1,200 (USD Billion) by 2035. The Home Improvement Market CAGR (growth rate) is expected to be around 2.71% during the forecast period (2025 - 2035).


Home Improvement Market size  


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Key Home Improvement Market Trends Highlighted


The Global Home Improvement Market is currently experiencing several notable trends driven by shifts in consumer behavior and preferences. A key market driver is the increasing focus on sustainable and eco-friendly home improvements. Consumers are now more inclined towards products that offer energy efficiency and minimize environmental impact, reflecting a growing global commitment to sustainability. This trend has led to a rise in demand for renewable energy sources, such as solar panels, as well as sustainable materials for renovation and construction purposes. Moreover, the rise of remote work has spurred homeowners to invest in creating functional home-office spaces and enhancing overall home comfort.People are reimagining their living spaces, resulting in a rise in spending on renovations and enhancements that convert existing spaces into more comfortable and adaptable environments. Additionally, there is a focus on smart home technology, as consumers are pursuing integrated solutions to enhance energy management, security, and convenience. 


This integration of technology is indicative of a trend toward the automation and connectivity of residences. Businesses have the opportunity to capitalize on these trends by providing innovative products and services that are specifically designed to meet the requirements of consumers. Opportunities are abundant in the global market. For example, organizations may establish themselves as pioneers in a rapidly changing environment by investigating the development of eco-friendly construction materials or customizable smart home solutions. Furthermore, the ongoing housing stock challenges, which are driven by urbanization and population growth, present opportunities for companies to offer effective solutions that improve the quality of life in both rural and urban areas. In general, stakeholders who are seeking to capitalize on the dynamic shifts within the Global Home Improvement Market must comprehend these trends.


Home Improvement Market Drivers


Increasing Demand for Home Renovations


The Global Home Improvement Market Industry is experiencing a substantial increase in demand for home renovations, driven by a growing trend towards personalization and sustainability in living environments. According to a report by the United Nations, there has been a notable shift in residential construction where over 60% of homeowners are opting to remodel their homes rather than move into new properties. This trend is influenced by rising property prices, which have escalated renovation costs and prompted homeowners to invest in upgrading their existing spaces.Organizations like the National Association of Home Builders have highlighted that millennials and Gen Z are particularly active in the market, seeking to enhance the functionality and aesthetic appeal of their homes to suit their lifestyles. This demographic shift is expected to propel the market forward, with projections estimating approximately 40% of renovations focused on energy efficiency upgrades or smart home technology by 2030.


Growth in Real Estate Sector


The Global Home Improvement Market Industry is being bolstered by the growth of the real estate sector, with a resurgence in property sales observed across various regions worldwide. For instance, data from the World Bank indicates an increase in global real estate transactions by 25% in the past five years, leading to a heightened need for home improvement products and services. As new home buyers often look to customize their purchases, there is a rising trend in home improvement investments, particularly in emerging markets.Leading real estate organizations have reported that nearly 70% of new homeowners undertake renovations within the first year of purchase, thus contributing significantly to the demand for home improvement solutions.


Technological Advancements in Home Improvement Products


Innovative technologies are driving significant transformations within the Global Home Improvement Market Industry. The integration of smart home technology has become increasingly popular, with market leaders like Google and Amazon leading the charge in developing user-friendly, interconnected devices. According to industry insights from the Consumer Technology Association, sales of smart home devices are projected to increase by 20% annually, indicating a strong consumer preference for intelligent and energy-efficient solutions.As more homeowners seek to incorporate technology that offers convenience and enhances living conditions, the demand for smart home improvement products is expected to rise, ultimately fostering market growth.


Government Incentives for Energy Efficiency


Government policies aimed at promoting energy efficiency are playing a pivotal role in spurring growth within the Global Home Improvement Market Industry. Many countries have introduced tax incentives and rebates for homeowners who invest in energy-efficient renovations, such as upgraded insulation, energy-efficient windows, and sustainable landscaping. For instance, the U.S. Department of Energy has reported that energy efficiency upgrades can reduce energy consumption by approximately 30% to 50%.These savings are highly appealing to homeowners looking to lower utility costs and align with global sustainability goals. By fostering a more environmentally friendly approach to home improvement, government initiatives are expected to stimulate substantial investment in the sector, contributing to the overall market expansion.


Home Improvement Market Segment Insights


Home Improvement Market Product Type Insights


The Global Home Improvement Market showcases a diverse array of product types that cater to the evolving needs of homeowners and property developers worldwide. This dynamic market is segmented into key categories, including Kitchen Fixtures, Bathroom Fixtures, Flooring, Paints and Coatings, and Home Décor, each playing a pivotal role in enhancing residential and commercial spaces. For instance, Kitchen Fixtures, valued at 150.0 USD Billion in 2024 and projected to reach 200.0 USD Billion by 2035, represent a significant portion of the market, driven by a growing trend towards modern interior designs and increased consumer expenditure on home renovations. Similarly, Bathroom Fixtures, with a valuation of 120.0 USD Billion in 2024, are seeing a rising demand as homeowners prioritize comfort and aesthetics, anticipating a growth to 160.0 USD Billion by 2035. Flooring emerges as a dominant segment, holding a valuation of 250.0 USD Billion in 2024 and expected to expand to 335.0 USD Billion in 2035. The substantial investment in flooring reflects a trend where homeowners opt for durable materials that offer both functionality and style, catering to various preferences from hardwood to tiles. Paints and Coatings, valued at 200.0 USD Billion in 2024, serve as vital elements in home improvement, impacting visual aesthetics and protection of surfaces; this segment is projected to grow to 260.0 USD Billion by 2035, aligning with the diverse color trends and sustainable options increasingly sought by consumers. Lastly, Home Décor is projected to flourish as well, with a value of 173.86 USD Billion in 2024, rising to 245.0 USD Billion by 2035, as individuals increasingly invest in decorative items that reflect their personal style and enhance living environments. 


This segmentation within the Global Home Improvement Market highlights the diverse preferences of consumers, illustrating how pieces such as Kitchen Fixtures and Flooring dominate the market due to their necessity in foundational renovations and upgrades. Rising disposable incomes, coupled with heightened awareness regarding home aesthetics, drive demand across these segments, fostering an environment ripe for innovation and enhanced product offerings. Additionally, global trends toward sustainable and eco-friendly home improvement products play a crucial role in shaping consumer choices, further impacting the respective valuations in these segments. The varied market dynamics underscore the importance of understanding these product types in navigating the Global Home Improvement Market and leveraging growth opportunities inherent within this industry.


Home Improvement Market Segment  


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Home Improvement Market Application Insights


The Global Home Improvement Market revenue is expected to reach 893.86 billion USD in 2024 and is projected to grow significantly in the coming years. This market is driven by a multitude of factors, including increased consumer spending on home enhancements and the growing trend of homeownership. Within the Application segment, remodeling is a vital aspect, capturing attention due to the rising demand for modernized living spaces. Repair and maintenance activities have also become essential as homeowners recognize the importance of preserving their property value.New construction remains significant, bolstered by urbanization and population growth, leading to the development of new residential projects. As the Global Home Improvement Market industry evolves, key opportunities lie in sustainability and innovative building materials, catering to environmentally conscious consumers. Challenges, such as volatile material costs and fluctuating labor availability, may impact market growth; however, the overall potential within the market remains robust, supported by increasing disposable income and a focus on home aesthetics.Comprehensive Global Home Improvement Market data indicates a strong inclination towards enhancing living conditions, with these applications holding substantial importance in shaping the market landscape.


Home Improvement Market Distribution Channel Insights


The Global Home Improvement Market is anticipated to experience notable growth, with a projected value of 893.86 billion USD by 2024, reflecting the significance of distribution channels within the industry. The distribution channels play a crucial role in facilitating consumer access to diverse home improvement products. Online retail has gained momentum, appealing to a tech-savvy consumer base, while traditional retail stores continue to provide hands-on experience and immediate satisfaction, which many customers still prefer. Wholesale channels are vital for catering to contractors and businesses, ensuring bulk availability and competitive pricing.Direct sales remain significant as they offer personalized services and build strong customer relationships. The market shows a continuous shift towards online shopping, driven by convenience and the increasing use of digital platforms, encouraging retailers to invest in e-commerce capabilities. While the retail environment remains competitive, embracing multi-channel strategies enables businesses to address evolving consumer preferences effectively. The Global Home Improvement Market revenue thus reflects a dynamic landscape where adapting to changing buyer behavior is essential for sustained growth and market presence.


Home Improvement Market End User Insights


The Global Home Improvement Market revenue has shown substantial growth, with the market valued at approximately 893.86 USD Billion in 2024. This segment encompasses a diverse range of End Users, primarily categorized into homeowners, contractors, and real estate developers, each contributing significantly to the market dynamics. Homeowners represent a substantial portion of the market, as they often drive renovations and upgrades to enhance property value and living comfort. Contractors play a critical role by providing specialized skills and services, ensuring projects are completed efficiently, while also impacting overall market growth.Real estate developers are essential as they influence demand for home improvements through new project developments and renovations, increasingly focusing on sustainable and innovative solutions. The Global Home Improvement Market segmentation highlights how each of these End Users furthers market growth by adapting to trends like increased DIY activities and the rising importance of home functionality. Additionally, challenges such as fluctuating material costs and supply chain issues present opportunities for innovative approaches and collaboration among stakeholders in the industry.These factors collectively indicate a dynamic landscape for the Global Home Improvement Market industry, leading to evolving strategies targeted at meeting the individual needs of these market participants.


Home Improvement Market Regional Insights


The regional segment of the Global Home Improvement Market reveals significant diversity and variation across different areas. North America accounts for a majority holding in this market with a valuation of 380.0 USD Billion in 2024, projected to reach 510.0 USD Billion by 2035, reflecting a strong demand for home renovation and improvement projects. Europe follows with a valuation of 280.0 USD Billion in 2024 and is expected to grow to 370.0 USD Billion by 2035, indicating a robust market driven by increasing consumer spending on home aesthetics and functionality.In the Asia-Pacific (APAC) region, the market is valued at 180.0 USD Billion in 2024, with potential growth to 250.0 USD Billion by 2035, supported by rapidly expanding urban populations and rising disposable income. South America represents a smaller but significant portion at 40.0 USD Billion in 2024, with anticipated growth to 50.0 USD Billion by 2035, driven by a growing middle class and home ownership trends. Meanwhile, the Middle East and Africa (MEA) market stands at 13.86 USD Billion in 2024 and is forecasted to reach 20.0 USD Billion by 2035, indicating emerging opportunities with increasing investments in housing and infrastructure.The Global Home Improvement Market data reflects a mix of challenges and opportunities driven by regional economic conditions, consumer preferences, and demographic trends, thereby emphasizing the importance of each regional market in the overall industry landscape.


Home Improvement Market Segment  


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Home Improvement Market Key Players and Competitive Insights


The Global Home Improvement Market is characterized by a dynamic competitive landscape where numerous players vie for market share through innovative offerings and strategic maneuvers. As consumer preferences shift towards enhancing living spaces and increasing home functionalities, companies are adapting their strategies to meet these demands. Factors such as urbanization, rising disposable incomes, and an increasing trend of DIY home improvement projects contribute to the burgeoning market. To stay competitive, firms are focusing on expanding their product lines, improving customer service, and leveraging technology to create seamless shopping experiences. Additionally, collaboration with suppliers and investors plays a key role in maintaining an edge over competitors in this ever-evolving sector.Amazon has established a formidable presence in the Global Home Improvement Market by leveraging its extensive online platform and logistical capabilities. The company's strengths lie in its ability to offer a vast selection of home improvement products ranging from tools, appliances, and building materials to decor items, creating a one-stop shopping experience for consumers. Amazon's efficient supply chain and fulfillment network allow it to provide quick delivery services, which enhances customer satisfaction and loyalty. Additionally, the company continuously invests in technology to simplify the purchasing process and improve product visibility, further solidifying its foothold in this competitive market. Its commitment to customer reviews and ratings informs potential buyers, creating a trustworthy purchasing environment, which is vital in the home improvement sector.Home Depot maintains a strong position in the Global Home Improvement Market through its extensive warehouse-style retail stores and comprehensive online presence. The company offers a broad array of products and services, including tools, home improvement supplies, and expert installation services, appealing to both DIY enthusiasts and professional contractors. Home Depot's significant market presence is bolstered by its strong brand reputation and exceptional customer service, which fosters customer loyalty. The company is also known for strategic mergers and acquisitions that enhance its product offerings and expand its reach. By continually engaging in joint ventures and partnerships, Home Depot reinforces its position in the global market and adapts to changing consumer preferences. Its focus on innovation, coupled with an emphasis on sustainability, allows it to resonate with environmentally conscious consumers and differentiate itself from competitors.


Key Companies in the Home Improvement Market Include



  • Amazon

  • Home Depot

  • Kingfisher

  • Travis Perkins

  • Screwfix

  • Menards

  • RONA

  • The Home Depot Canada

  • Bunnings Warehouse

  • IKEA

  • B and Q

  • Ace Hardware

  • Lowe's

  • Wolseley

  • Wayfair


Home Improvement Market Industry Developments


The Global Home Improvement Market has recently seen significant developments with companies like Home Depot and Lowe's continuing to report substantial earnings growth, driven by heightened consumer interest in renovations and DIY projects. In September 2023, Home Depot announced a partnership with several manufacturers to expand its eco-friendly product range, responding to the increasing demand for sustainable home improvement options. Meanwhile, Bunnings Warehouse and IKEA are enhancing their online shopping experiences to adapt to evolving consumer preferences for digital purchasing. In terms of mergers and acquisitions, in August 2023, Kingfisher announced the acquisition of a competitor to strengthen its market presence in Europe. This comes amidst increased competition and a push from companies like Menards and Ace Hardware to expand their market share in the North American home improvement segment. Companies are also investing heavily in technology and logistics to streamline operations. The overall growth has placed the market valuation above USD 800 billion, reflecting the increasing investment in home improvement projects globally, marking a noticeable shift in consumer behavior influenced by the COVID-19 pandemic.


Home Improvement Market Segmentation Insights


Home Improvement Market Product Type Outlook



  • Kitchen Fixtures

  • Bathroom Fixtures

  • Flooring

  • Paints and Coatings

  • Home Décor


Home Improvement Market Application Outlook



  • Remodeling

  • Repair

  • Maintenance

  • New Construction


Home Improvement Market Distribution Channel Outlook



  • Online

  • Retail Stores

  • Wholesale

  • Direct Sales


Home Improvement Market End User Outlook



  • Homeowners

  • Contractors

  • Real Estate Developers


Home Improvement Market Regional Outlook



  • North America

  • Europe

  • South America

  • Asia Pacific

  • Middle East and Africa


 

Report Scope:
Report Attribute/Metric Source: Details
MARKET SIZE 2023 870.28(USD Billion)
MARKET SIZE 2024 893.86(USD Billion)
MARKET SIZE 2035 1200.0(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR) 2.71% (2025 - 2035)
REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR 2024
MARKET FORECAST PERIOD 2025 - 2035
HISTORICAL DATA 2019 - 2024
MARKET FORECAST UNITS USD Billion
KEY COMPANIES PROFILED Amazon, Home Depot, Kingfisher, Travis Perkins, Screwfix, Menards, RONA, The Home Depot Canada, Bunnings Warehouse, IKEA, B and Q, Ace Hardware, Lowe's, Wolseley, Wayfair
SEGMENTS COVERED Product Type, Application, Distribution Channel, End User, Regional
KEY MARKET OPPORTUNITIES Sustainable materials demand growth, Online retail expansion, Smart home technology integration, DIY home improvement trends, Urbanization driving renovation projects
KEY MARKET DYNAMICS Rising DIY trends, Increasing urbanization, Growing disposable incomes, Home automation integration, Sustainability focus
COUNTRIES COVERED North America, Europe, APAC, South America, MEA


Frequently Asked Questions (FAQ) :

The Global Home Improvement Market is expected to be valued at approximately 893.86 USD Billion in 2024.

By 2035, the Global Home Improvement Market is anticipated to reach a valuation of 1200.0 USD Billion.

The market is expected to grow at a CAGR of 2.71% during the period from 2025 to 2035.

North America is projected to hold the largest market share, valued at around 510.0 USD Billion in 2035.

The Flooring segment is expected to be valued at approximately 250.0 USD Billion in 2024.

Major players in the market include Amazon, Home Depot, IKEA, Lowe's, and Wayfair.

The Bathroom Fixtures segment is projected to be valued at around 160.0 USD Billion by 2035.

The APAC region is expected to grow with a market size of about 250.0 USD Billion by 2035.

The Paints and Coatings segment is expected to be valued at approximately 200.0 USD Billion in 2024.

By 2035, the Home Décor segment is anticipated to reach a market size of around 245.0 USD Billion.

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