In 2024, home improvement sales in the United States amounted to around ***** billion U.S. dollars. By 2028, this amount is expected to reach almost *** billion U.S. dollars. Home improvement chains With sales close the *** billion U.S. dollar mark, The Home Depot was the leading home improvement chain in the United States in 2023. Other large chains in the industry included Lowe’s (Home Depot’s main competitor), Sherwin-Williams, Tractor Supply, and Menards that year. In terms of customer satisfaction however, The Home Depot ranked fourth in 2024, while Menards received the highest ratings. The Home Depot Home Depot is the largest home improvement retail store in the United States. The company was founded in Atlanta, Georgia in 1978. When visiting one of their stores, consumers would typically spend an average of ***** U.S. dollars in 2024. Lowe’s customers, on the other hand, spent about ****** U.S. dollars per visit.

Global home improvement market size was valued USD 340.81 billion in 2022 and is expected to rise to USD 490.13 billion by 2030 at a CAGR of 4.65%.

The global home improvement market size was valued at around USD 916.07 billion in 2024 and is projected to grow at a CAGR of more than 6.4%, reaching USD 2.05 trillion revenue by 2037. DIY segment is likely to hold 60% share by 2037, influenced by growing popularity of online retail channels and the economical and psychological benefits of DIY projects.

Tools and hardware: power tools, hand tools, accessoriesBuilding materials: lumber, cement, drywallHome décor: lighting, furniture, window treatmentsAppliances and fixtures: refrigerators, stoves, toiletsSmart home products: security systems, smart speakers, thermostats 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.

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.

The DIY Market Segments by Product Type (Building Materials, Paints and Coatings, Tools and Equipment, and More), by Distribution Channel (Home-Improvement / DIY Stores, Online Pure-Play Retail, and More), by Project Type (Interior Remodel, Exterior / Curb Appeal, and More) and Geography (North America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

Snapshot img

Home Renovation Market Size 2025-2029

The home renovation market size is forecast to increase by USD 83 billion at a CAGR of 4.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the global trend of rapid urbanization and the increasing focus on enhancing living spaces through technology. One of the most notable trends shaping this market is the adoption of Artificial Intelligence (AI) in home improvement projects. This technological advancement offers numerous benefits, including energy efficiency, personalized living experiences, and improved home security. However, the market faces a major challenge In the form of a shortage of skilled labor, which can lead to project delays and increased costs for homeowners. To capitalize on this market opportunity, companies must focus on innovative solutions that address the labor shortage, such as pre-fabricated renovation kits or partnerships with local training programs. This market continues to experience steady growth, driven by the desire for modern living standards, improved environmental performance, and the integration of smart home technologies.
Additionally, investing in AI-powered tools and services can provide a competitive edge, enabling companies to offer more efficient and personalized renovation services to meet the evolving demands of consumers. Overall, the market presents a promising landscape for growth, with opportunities for companies that can effectively navigate the challenges and leverage technological advancements to meet the needs of the urbanizing population.

What will be the Size of the Home Renovation Market during the forecast period?

Request Free Sample

The residential remodeling market encompasses various activities repairing broken structures, and weather sealing. Sustainable trends, such as the use of green remodeling products and sustainable building materials, are gaining traction as consumers become increasingly environmentally aware and conscious of their carbon footprints. New trends In the market include the adoption of 3D rendering software for virtual home design, structural glazing for enhanced temperature control, and the integration of solar panels for energy efficiency.
Economic slowdowns and reduced disposable income have led to project budgets being carefully considered, resulting in increased focus on labor costs and supply chain disruptions. Old buildings are being repurposed and renovated, with a focus on preserving their historical character while incorporating modern amenities. New flooring, lighting systems, insulating glass, and electrical & insulation upgrades are popular choices for homeowners seeking to enhance their living spaces. Government incentives and homeowner budgets are also driving the market, with a particular emphasis on energy-efficient windows and green buildings. Despite these trends, the market faces challenges, including labor shortages and rising material costs, which can impact construction expenditure.
The novel coronavirus pandemic has also disrupted the supply chain, leading to delays and increased costs for many projects. Overall, the residential remodeling market is expected to continue growing, driven by a combination of consumer demand and government incentives, as well as advancements in technology and sustainable building materials.

How is this Home Renovation Industry segmented?

The home renovation industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Professional renovation
  Do-It-Yourself (DIY) renovation


Application

  Kitchen renovation
  Bathroom renovation
  Exterior renovation
  Bedroom renovation
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  APAC

    China
    India
    Japan


  Middle East and Africa



  South America

By Type Insights

The professional renovation segment is estimated to witness significant growth during the forecast period.

Professional home renovation services offer homeowners customized solutions for complex projects, ensuring high-quality results that meet specific aesthetic and functional requirements. These services encompass a range of tasks, from structural changes to intricate design solutions, executed with precision and care. Key features include specialized skills, custom design solutions, time efficiency, and regulatory compliance. Professionals manage tasks such as HVAC upgrades, electrical rewiring, plumbing system improvements, and energy efficiency upgrades using sustainable materials and modern home design trends. Safety enhancements and smart home technology installations are also common, along with home renovation inspiration and remodel

Market Size statistics on the Home Improvement Stores industry in the US

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.

Home improvement industry sales reached approximately **** billion Canadian dollars in 2023. This was an increase in comparison to the figure in 2022. Canada is home to many home improvement retailers, with the largest number of stores located in Ontario. Competition for sales When it came to retailers in 2023, Home Depot was the industry leader in terms of annual sales. That year, Home Depot Canada brought in approximately **** billion Canadian dollars in sales. Home Hardware Stores and RONA followed in second and third place, with sales of *** and *** billion Canadian dollars respectively. Nationwide and global success There were a total of *** Home Depot stores in Canada in 2024. That same year, Home Depot had over *** billion customer transactions worldwide, more than double the number of customer transactions of its global competitor, Lowes.

Vietnam Home Improvement Market is Segmented by Product Type (Building Materials, Kitchen Improvement and Additions, and More), by Distribution Channel (Home Improvement Stores, Specialty Stores, and More), by End User (DIY, and DIFM / Professional Installation), by Project Type (Renovation, Remodelling, and More), by Region (Northern Vietnam, Central Vietnam, and More). The Market Forecasts are Provided in Terms of Value (USD).

United States Home Improvement Market has valued at USD 448.08 billion in 2022 and is anticipated to project robust growth.

The UK home improvement market size reached USD 14.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 21.6 Billion by 2033, exhibiting a growth rate (CAGR) of 4.3% during 2025-2033. The market is propelled by the rising demand for energy-efficient homes, increased focus on home aesthetics and interior design, growing adoption of smart home technology, and a rise in DIY projects and home renovation during the pandemic.

In 2022, the home improvement market in North America generated the highest revenue worldwide, amounting to nearly *** billion euros. It was followed by the APAC home improvement market with a revenue of about *** billion euros.

The global home improvement retail market is expected to reach a value of USD 1,290.8 billion by 2033, exhibiting a CAGR of 6.1% during the forecast period of 2025-2033. The expansion of the market can be attributed to the rising demand for home improvement projects fueled by growing disposable income, increased homeownership rates, and a shift towards do-it-yourself (DIY) projects. Additionally, the increasing popularity of smart home devices and systems is anticipated to drive market growth as consumers seek to enhance the functionality and convenience of their homes. Key trends shaping the home improvement retail market include the emergence of e-commerce, the growing popularity of sustainable and eco-friendly products, and the adoption of innovative technologies such as artificial intelligence (AI) and augmented reality (AR). The shift towards online retail has enabled consumers to easily access a wider selection of products and compare prices, while the adoption of AI and AR is enhancing the customer experience by providing personalized recommendations, virtual tours, and interactive product demos. These trends are expected to continue to drive market growth over the coming years, as consumers increasingly seek convenient, personalized, and sustainable home improvement solutions. The home improvement retail market is a large and growing industry, with a global market size of $663.3 billion in 2019. The market is expected to grow to $940.3 billion by 2027, at a compound annual growth rate (CAGR) of 4.7%. The growth of the home improvement retail market is being driven by a number of factors, including:

The increasing popularity of home improvement projects The rising cost of housing The aging population The growing number of single-family homes

The home improvement retail market is concentrated in a few major players, including The Home Depot, Lowe's, and Menard's. These companies have a strong presence in the United States and are expanding into other markets. The home improvement retail market is characterized by a number of trends, including:

The growing popularity of online shopping The increasing use of mobile devices for home improvement projects The rising demand for sustainable products The growing popularity of smart home products

The home improvement retail market is expected to continue to grow in the coming years. The growth of the market will be driven by the increasing popularity of home improvement projects, the rising cost of housing, the aging population, and the growing number of single-family homes.

The global home improvement services market size reached USD 371.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 529.4 Billion by 2033, exhibiting a growth rate (CAGR) of 3.82% during 2025-2033. The increasing need for remodeling of homes, rising adoption of smart homes, and the growing requirement for energy-efficient living spaces represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each sub-segment of the global home improvement services market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on type, buyers age and city type.

Home Remodeling Market Outlook

The global home remodeling market size is experiencing robust growth, with the market valued at approximately USD 950 billion in 2023. It is projected to reach around USD 1,450 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2032. This impressive growth trajectory can be attributed to several key factors, including increasing consumer demand for home improvement, the aging housing stock in developed regions, and the rising trend of personalization and modernization in living spaces.

The first driving factor behind this growth is the shifting consumer preference towards more sustainable and energy-efficient homes. As awareness of environmental issues grows, homeowners are increasingly investing in remodeling projects that incorporate energy-saving technologies and sustainable materials. This trend not only helps reduce carbon footprints but also lowers utility bills, making home remodeling an attractive investment. Furthermore, governments worldwide are offering incentives and rebates for energy-efficient home improvements, further fueling market growth.

Another significant growth factor is the aging housing stock, particularly in developed regions such as North America and Europe. Many homes in these areas were built several decades ago and are in need of modernization and renovation to meet current safety, design, and functionality standards. This has created a substantial demand for remodeling services, as homeowners seek to upgrade their properties to enhance comfort, aesthetic appeal, and market value. Additionally, the economic recovery following the COVID-19 pandemic has led to increased disposable incomes, allowing more homeowners to embark on renovation projects.

Technological advancements have also played a crucial role in the expansion of the home remodeling market. Innovations such as smart home technology, 3D printing, and virtual reality are transforming the way remodeling projects are designed and executed. These technologies enable homeowners to visualize their renovations before they are completed, ensuring that the final results meet their expectations. The integration of smart home systems is particularly popular, as it offers improved convenience, security, and energy management, thereby enhancing the overall value of the property.

The role of Hardware & Home Improvement Retailers is pivotal in the home remodeling market. These retailers provide a wide range of products and materials essential for remodeling projects, from basic construction supplies to high-end fixtures and finishes. As the market continues to grow, these retailers are expanding their product offerings to include sustainable and energy-efficient options, catering to the increasing consumer demand for eco-friendly solutions. Furthermore, many retailers are enhancing their customer service through personalized consultations and design services, helping homeowners make informed decisions about their remodeling projects. By leveraging both online and offline channels, Hardware & Home Improvement Retailers are able to reach a broader audience and provide a seamless shopping experience, thus playing a crucial role in the market's expansion.

Regionally, the home remodeling market is witnessing varied growth patterns. In North America, the market is driven by a high rate of homeownership and a strong culture of DIY home improvement, leading to steady market growth. The Asia Pacific region is expected to exhibit the highest growth rate, driven by rapid urbanization, increasing disposable income, and a growing middle class population with a penchant for home improvement. Europe also presents significant opportunities, particularly in countries with an aging housing stock and stringent energy efficiency regulations. Meanwhile, Latin America and the Middle East & Africa are emerging markets with promising potential, although they currently contribute a smaller share to the global market.

Type Analysis

The home remodeling market can be segmented by type, with key categories including kitchen remodeling, bathroom remodeling, exterior additions, interior additions, and others. Kitchen remodeling is one of the most popular types of projects undertaken by homeowners, as the kitchen is often considered the heart of the home. Modernizing kitchen spaces with new cabinetry, countertops, appliances, and layouts can greatly enhance functionality and aesthetic appeal. The trend

The Home Remodeling Market report segments the industry into Project Type (DIY(Do it Yourself), Professional), By Distribution Channel (Online, Offline), By Application (Windows and Doors, Kitchen and Bathroom, Floor and Roof, Walls, Other Applications), and By Geography (North America, Europe, Asia Pacific, Middle East and Africa, South America). Five years of historical data and market forecasts are included.

Snapshot img

Europe DIY Home Improvement Market Size 2025-2029

The Europe diy home improvement market size is forecast to increase by USD 32.9 billion at a CAGR of 3.2% between 2024 and 2029.

The European DIY home improvement market is experiencing significant growth, fueled by a rising trend towards DIY projects and advancements in technology. Homeowners increasingly seek to personalize their living spaces and save on labor costs, driving demand for DIY home improvement tools and materials. Technological innovations, such as smart home systems and advanced DIY tools, offer convenience and precision, further boosting market growth. However, the market faces challenges that require strategic navigation. Regulatory hurdles impact adoption, as stringent safety and environmental regulations necessitate compliance.
Supply chain inconsistencies temper growth potential, as suppliers struggle to keep up with demand and maintain consistent product availability. The increasing threat from the DIFM (Do-It-For-Me) industry, which offers professional home improvement services, also poses a significant challenge. Companies must differentiate themselves by offering competitive pricing, high-quality products, and exceptional customer service to capitalize on market opportunities and navigate challenges effectively.

What will be the size of the Europe DIY Home Improvement Market during the forecast period?

Request Free Sample

Understanding the European DIY Home Improvement Market: Trends and Dynamics The European DIY home improvement market is experiencing significant growth, driven by product innovation and consumer demand for smart home solutions. Online design consultations and virtual home tours are increasingly popular, allowing customers to plan projects remotely. Home energy monitoring and voice control systems enable homeowners to manage energy usage and security from anywhere. Green building practices and sustainable materials, such as recycled materials, are gaining traction, aligning with European regulations and consumer preferences. Building codes and safety regulations continue to evolve, emphasizing home safety and compliance.
DIY workshops and online courses offer customers the opportunity to learn new skills and tackle projects themselves, while retail stores and installation services cater to those who prefer professional assistance. Power Tools and building materials are essential components of these projects, with energy-efficient appliances and construction software streamlining the process. Home improvement blogs, virtual design tools, and home valuation apps provide valuable resources for customers, while home improvement influencers share tips and inspiration. Home staging tips, property assessment, and DIY insurance services further support homeowners in enhancing their living spaces. Solar panels and home security systems are popular investments for energy efficiency and safety, with 3D virtual tours offering a more immersive shopping experience.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Lumber and landscape management
  Decor and indoor garden
  Painting and wallpaper
  Others


Distribution Channel

  Offline
  Online


Product Category

  Tools
  Hardware
  Flooring
  Plumbing


End-User

  Homeowners
  Renters
  DIY Enthusiasts


Project Type

  Renovation
  Repair
  Decoration


Geography

  Europe

    France
    Germany
    Italy
    UK

By Product Insights

The lumber and landscape management segment is estimated to witness significant growth during the forecast period.

The market is characterized by the active participation of DIY enthusiasts, who engage in various projects to enhance their living spaces. smart home technology integration is a significant trend, enabling home automation and energy efficiency. Home Renovation projects, such as bathroom and kitchen renovations, are popular, with social media marketing playing a crucial role in project inspiration and idea sharing. Warranty programs and home improvement advice offer peace of mind and expertise to DIYers. Sustainable building practices and skilled tradespeople ensure the execution of eco-friendly and high-quality projects. Home improvement centers provide access to a wide range of building materials, tools, and installation services.

Product innovation and project planning tools, including online shopping, 3D modeling, and augmented reality, streamline the DIY process. Online tutorials, customer feedback, and material sourcing platforms facilitate seamless project execution. Home safety, Home Decor, and home maintenance are essential aspects of DIY home improvement. DIY communities and digital marketing channe

Home Improvement Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2016-2026 Segmented By Product, By Project, By Sourcing and By Region