The worldwide home improvement market was valued at *** billion U.S. dollars in 2020. With a compound annual growth rate (CAGR) of more than **** percent, the home improvement market value was expected to surpass the ******** dollar mark by 2027.

Garden landscaping was the most common home improvement project done during the coronavirus pandemic in the United States in 2020. Installing security cameras was the least common project.

The average kitchen remodeling project cost upwards of ****** U.S. dollars in 2020. This made the kitchen remodel the most expensive home improvement project in American homes. Other costly home upgrades included bathroom remodeling and installing a new roof.

Interior painting was the most popular home improvement prokect in the United States in 2020. Roughly ** percent of consumers painted their indoor walls. Other popular projects included bathroom remodeling and installing new flooring.

Home improvement stores form a mature industry dominated by two major companies, Home Depot and Lowe's. Both companies share similar product lines, which fuels high levels of price competition. Home improvement stores serve various markets, including do-it-for-me (DIFM), do-it-yourself (DIY) and professional customers. The most prominent influence on the performance of stores is activity in the residential market. Starting in 2021, spikes in inflation have cut consumers' spending power, while rising interest rates have constrained residential construction spending. While inflation has been tempered, the recent tariff announcements by the Trump administration remain a threat to product prices. Revenue for home improvement stores is expected to swell at a CAGR of 1.7% to $292.8 billion through the end of 2025, including growth of 1.9% in 2025 alone. The residential market boomed in 2020 as consumers stayed inside, resulting in more consumers with time to spend looking at new homes. Sales of home appliances, lumber, tools, hardware and lawn equipment were boosted. However, mounting inflationary pressure in 2022 led the Federal Reserve to raise interest rates. Since home improvement stores are tied to residential sector growth, rising interest rates cut housing sales that year, leading to faltering revenue. Since the pandemic, exploding e-commerce sales have been a boon for the industry. Home improvement stores will continue to improve their online platforms to strengthen sales in the coming years. Growing economic uncertainty has lifted sales of DIY products while limiting profit growth. Moving forward, interest rates are expected to drop, benefiting home improvement stores. Tariffs could result in higher interest rates, potentially upending the industry. Still, consumer spending power will remain relatively low, suppressing residential activity. Although residential activity is expected to slow, rising disposable income will boost spending on appliances and gardening equipment. There will be a trend of consumers opting for smaller appliances and upgrades rather than making significant investments in new construction or renovations. Home improvement store revenue is expected to climb at a CAGR of 2.1% to $325.3 billion through the end of 2030. The growing efficiency of online operations will cause profit to swell.

United States Home Improvement Market was valued at USD 476.93 billion in 2024 and is anticipated to grow USD 623.34 billion by 2030 with a CAGR of 4.61%

Seventy-six percent of respondents stated they had made at least one improvement to their home during the coronavirus pandemic in the United States in 2020. Making the home more eco-friendly was the least common reason for a home improvement project.

Tools & Hardware: A diverse range encompassing power tools, hand tools, precision instruments, fasteners, and safety equipment catering to both DIY enthusiasts and professionals.Building Materials: Lumber, cement, drywall, insulation, roofing materials, and other essential components for new construction and renovations.Home Décor: Lighting fixtures, furniture, window treatments, paint, flooring, and decorative accessories enhancing aesthetics and functionality.Appliances & Fixtures: Refrigerators, stoves, ovens, dishwashers, toilets, sinks, faucets, and other essential appliances improving kitchen and bathroom efficiency and style.Smart Home Products: Security systems, smart speakers, thermostats, lighting controls, and other connected devices enhancing convenience, security, and energy management. Recent developments include: March 2024: Kingfisher will announce the opening of a home improvement e-commerce platform at Castorama France, marking the next step in the rapid expansion of its marketplace offering. The launch follows the success and rapid growth of Kingfisher's marketplaces at B&Q in the United Kingdom, Brico Dépôt in Spain and Portugal, and the Koçtaş joint venture in Turkey. Castorama France will launch more than 500,000 new products from verified third-party merchants through its e-commerce channels. All third-party merchants will be chosen by Castorama specialists and subjected to a rigorous verification procedure to ensure they fulfill Castorama's quality and ethical requirements., October 2023: MarketBlast® announces the launch of a global product innovation search in the thriving home improvement sector. The hunt will encompass innovation in tools, hardware, DIY, and home improvement, as well as manufacturers and distributors who are actively seeking new and inventive items. The National Hardware Show is the hunt's primary sponsor, as it is the only industry event that brings together the complete home improvement community, including corporations looking for new and inventive items to expand their brands., February 2022: Home improvement firm Lowe's Companies Inc. of America has partnered with online grocery delivery service Instacart in North America to offer same-day home improvement goods delivery., November 2021: Block Renovation, a US-based digital platform for house remodeling, has revealed that Softbank Vision Fund 2 lead a USD 50 million Series C investment round., June 2020: With the introduction of Lowe's for Pros JobSIGHT powered by Streem, an enhanced video chat service that enables Pros to conduct virtual home visits with customers, Lowe's unveils the first phase of its previously announced USD 25 million commitment to support small businesses in an effort to help keep Pros working. Keeping homes operating safely is more crucial than ever since more people are choosing to stay at home.. Notable trends are: Increasing demand for memory foam is driving the market growth.

Global Home Improvement is segmented by Application (Renovation , Repair , New construction , DIY projects , Landscaping), Type (Tools & Hardware , Paints & Coatings , Plumbing , Electrical , Building Materials) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Snapshot img { margin: 10px !important; } Get our updated market research report on the DIY market 2018-2022

Market overview of the global DIY market

Home improvement such as renovating and remodeling one’s home is the key segment and also the largest segment in the global DIY market. Technavio’s market research analyst expects the global DIY market to grow at a CAGR of around 3% during the forecast period. The growth of this market is mainly supported by the media presence, be it through the traditional medium such as television or the online presence in the form of video websites or social media.

The emergence of a large number of retail stores such as hypermarkets, supermarkets, and specialty stores across the globe is another major driver for the growth of the DIY market. These stores enable consumers to seek information on various brands, compare prices, quality, design, and then make a decision at their convenience and comfort. Also, with the increase in brand consciousness among consumers, the importance of organized retailers carrying branded DIY products is on the rise.

Geographical segmentation of the DIY market

Americas
APAC
Europe
MEA

Acceptance of DIY culture is very low in the APAC regions, hence the market is largely concentrated in the Western countries. The Americas occupies the largest share of the DIY market, with the US contributing the majority of the market share in this region. People in the US loves engaging themselves in DIY projects. Hence, this acts as a major driver contributing to the growth of the DIY market in the US.

Competitive landscape and key vendors

The sedated growth of the global DIY market is likely to spur vendors to bring in new products to meet the buying trend among the customers and remain competitive in the market. Additionally, the rising adoption of DIY activities in the developing region is also luring vendors in the DIY market to venture into these market and expand their foothold.

The leading vendors in this market are -

Adeo
Home Depot
Kingfisher plc
Lowe’s

The other prominent vendors in the market include OBI, Bauhaus, Kesko, Travis Perkins, Les Mousquetaires, and Hornbach.

Growth drivers, challenges, and upcoming trends – Customization of DIY

Technavio’s market research analysts accentuate upcoming trends such as the customization of DIY products, which is undoubtedly a popular approach across industries. Following the ways by which customer demand is changing on a regular basis, customization of DIY products play a crucial role in the growth of the DIY market.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global DIY market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

Key questions answered in the report

What will the market size and the growth rate be in 2020?
What are the key factors driving the global DIY market?
What are the key market trends impacting the growth of the global DIY market?
What are the challenges to market growth?
Who are the key vendors in the DIY market?
What are the market opportunities and threats faced by the vendors in the global DIY market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
What is the key outcome of the five forces analysis of the global DIY market?

Technavio also offers customization on reports based on specific client requirement.

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In 2020, Lowe's satisfaction rate among DIYers was ***, slightly higher than among professionals. The Home Depot had the highest satisfaction rate among professional contractors, at ***. The online retailer Amazon did not fare as well as its brick-and-mortar counterparts, with a satisfaction rate of *** among professionals.

Home Improvement Stores Sales: YoY: Mie data was reported at -4.400 JPY bn in Jan 2020. This records an increase from the previous number of -5.000 JPY bn for Dec 2019. Home Improvement Stores Sales: YoY: Mie data is updated monthly, averaging -1.300 JPY bn from Jan 2015 (Median) to Jan 2020, with 61 observations. The data reached an all-time high of 11.400 JPY bn in Aug 2015 and a record low of -25.100 JPY bn in Mar 2015. Home Improvement Stores Sales: YoY: Mie data remains active status in CEIC and is reported by Ministry of Economy, Trade and Industry. The data is categorized under Global Database’s Japan – Table JP.H015: Home Improvement Stores: Sales.

Over the past five years, the DIY and home improvement sector has recorded an average annual decline in turnover of 2.4 %. This is due to the fact that the coronavirus pandemic initially led to a temporary increase in sales in the reference year 2020, as consumers invested more in home improvement projects during the lockdowns. However, a clear downward trend has been observed since 2020, which has been exacerbated by increased staff costs and high investments in digitalisation and cross-channel strategies. The major DIY chains are increasingly relying on apps and online platforms to meet the growing competitive challenges and also attract price-sensitive customers to DIY stores.Slight sales growth of 0.1% to €31.6 billion is expected for the current year, which could be interpreted as a potential trend reversal if important external factors signal stability. The large DIY chains continue to dominate the sector, particularly due to their price leadership. Nevertheless, small and regional chains score highly in customer satisfaction surveys thanks to their excellent customer service. One notable event is the switch of four entrepreneurs from Hagebaumarkt to OBI, which can be attributed to OBI's better digital infrastructure and stronger DIY focus. This could have a signalling effect for future developments in the sector.In the next five years, annual sales growth of 3.4% is expected, which could increase the industry's turnover to 37.4 billion euros in 2030. This growth is heavily dependent on developments in residential construction, net incomes and the consumer climate. DIY stores have the opportunity to establish themselves as holistic providers of smart home solutions, potentially creating new revenue streams. Investments in cross-channel strategies will increase and lead to new shop concepts by linking apps, online stores and bricks-and-mortar retail. The Austrian provider Let's Do it shows an example of how this can be achieved with its shop concept, which has been rolled out and further developed since 2019. Such developments could be crucial in order to meet changing customer needs and competitive pressure in the digital age. IBISWorld expects the profit margins of German DIY stores to be slightly below the level of previous years in the coming years due to the necessary investments in modern shop concepts and cross-channel solutions.

In 2020, ** percent of the French declared that they were renovating their home in order to improve its comfort. Furthermore, ** percent of respondents said that home renovation helped them preventing their living space from becoming old or obsolete. In 2019, specialized large retailers such as Leroy Merlin or Mr.Bricolage were dominating the home improvement market.

Home Improvement Stores Sales: YoY: Oita data was reported at -0.200 JPY bn in Jan 2020. This records an increase from the previous number of -3.800 JPY bn for Dec 2019. Home Improvement Stores Sales: YoY: Oita data is updated monthly, averaging 0.900 JPY bn from Jan 2015 (Median) to Jan 2020, with 61 observations. The data reached an all-time high of 18.900 JPY bn in Sep 2019 and a record low of -22.600 JPY bn in Mar 2015. Home Improvement Stores Sales: YoY: Oita data remains active status in CEIC and is reported by Ministry of Economy, Trade and Industry. The data is categorized under Global Database’s Japan – Table JP.H015: Home Improvement Stores: Sales.

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According to our research report, the Power Tools Market in the US will witness a CAGR of 3.33% which is expected to increase by USD 1.63 billion for the forecast period 2020 to 2025.

This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (electric, pneumatic, and others) and end-user (professional and consumer). The power tools market in the US report also offers information on several market vendors, including ANDREAS STIHL AG & Co. KG, Apex Tool Group LLC, Emerson Electric Co., Illinois Tool Works Inc., Ingersoll Rand Inc., Makita Corp., Robert Bosch GmbH, Snap-on Inc., Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd. among others.

What will the Power Tools Market Size in US be During the Forecast Period?

Download the Report Sample to Unlock the Power Tools Market Size in US for the Forecast Period and Other Important Statistics

Parent Market Analysis

The power tools market in US is a part of the global electrical components and equipment market. The global electrical components and equipment market was valued at USD 1,941.23 billion in 2020. Our Technavio Research categorizes the global market belonging to the Electrical Equipment industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Power Tools Market in US: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The growing demand for power tools for DIY projects in the US is notably driving the power tools market growth in the US, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the power tools industry in US. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Power Tools Market Driver in US

One of the key factors driving growth in the market is the growing demand for power tools for DIY projects in US. DIY projects refer to activities in which individuals such as hobbyists, residents, amateurs, or enthusiasts engage themselves in modifying, upgrading, maintaining, and rebuilding their material possessions such as household appliances, automobiles, residences, and bicycles. DIY projects are performed using raw or semi-finished raw materials, suitable tools, and equipment with little or no assistance from professionals. Home improvement projects constitute the majority of DIY projects. Some home improvement projects include replacing a shower faucet or refinishing the basement and attic. Home improvement projects include activities such as woodworking; plumbing; landscaping; and heating, ventilation, and air-conditioning (HVAC) utility repair works. A home is usually a life-long asset, and the demand for DIY tools, including power tools, for home improvement projects is growing in the US, as the large and affluent middle class in the US increasingly demands a better home space to ensure an improved standard of living. Moreover, with the spread of social media channels, more people are getting engaged in DIY projects to demonstrate their creative skills. Also, before hiring a working professional or labour, brainstorming has become a part of life, calculating the cost of professional plumbers, electricians, and mechanics. Such factors will positively impact the growth of the power tools market.

Key Power Tools Market Challenge in US

The risk of rising interest rates will be a major challenge for the market during the forecast period. The interest rates in the US have been rising since 2015. The US Federal Reserve increased the benchmark rates by approximately eight times in September 2018. A rising interest rate discourages borrowing by businesses and individuals and encourages savings. As a result of the rising benchmark rates in the US, the 30-year fixed rate mortgage in the US has increased by 25% between October 2017 and October 2018. This may lead to a reduction in the number of new home loan applications in the US in the forecast timeframe. Apart from this, a lean inventory of existing residences and the rising cost of construction have increased the prices of the existing residences. This is leading to a decline in the sales of the existing residences. The sale of existing residences is an important demand driver for power tools in the US as new owners invest in the modification and beautification of the acquired residence. The benchmark rates in the US are expected to rise further in 2019 due to the strong economic growth of

Home Renovation Incentive (HRI) statistics 2013-2020

Germany DIY Home Improvement Market was valued at USD 46.2 Billion in 2024 and is projected to reach USD 58.7 Billion by 2032, growing at a CAGR of 3.1% from 2026 to 2032.Key Market DriversIncreasing Consumer Interest in Home Renovations: The rising trend of home ownership, along with a desire for personalized living spaces, has spurred the expansion of the DIY home remodeling market. According to the German Federal Statistical Office, the homeownership rate in Germany is constantly increasing, with more than 43% of Germans owning their homes by 2021. As more people invest in home improvement projects, the demand for DIY tools, materials, and remodeling items increases.Surge in Home Improvement Spending Due to the Pandemic: The COVID-19 epidemic had a profound impact on consumer behavior, as many people spent more time at home and invested in their living spaces. The German DIY Retail Association (BHB) reports that DIY retail sales in Germany climbed by 7.7% in 2020, as more consumers turned to home renovation projects during lockdowns.

Home Improvement Stores Sales: YoY: Ishikawa data was reported at -4.200 JPY bn in Jan 2020. This records an increase from the previous number of -10.200 JPY bn for Dec 2019. Home Improvement Stores Sales: YoY: Ishikawa data is updated monthly, averaging 0.200 JPY bn from Jan 2015 (Median) to Jan 2020, with 61 observations. The data reached an all-time high of 12.300 JPY bn in Sep 2019 and a record low of -21.700 JPY bn in Mar 2015. Home Improvement Stores Sales: YoY: Ishikawa data remains active status in CEIC and is reported by Ministry of Economy, Trade and Industry. The data is categorized under Global Database’s Japan – Table JP.H015: Home Improvement Stores: Sales.

The top reason that drove Americans to partake in home improvement activities during the 2020 pandemic was finally have the time for it. Only **** percent stated that adapting the home for a new baby was the reason for the project.