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.

This statistic presents the consumer spending on home improvement (labor and materials) in Europe from the first quarter of 2015 to the first quarter of 2018, with forecasts for the following two quarters of 2018. Over the time period observed, spending on home improvement in Europe fluctuated, peaking in the third quarter of 2015, 2016 and 2017, at *** billion euros, *** billion euros and ** billion euros, respectively. In the third quarter of 2018, home improvement spending was forecasted at ** billion euros.

This data was provided by USP Marketing Consultancy.

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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Snapshot img { margin: 10px !important; } About Housing Mortgage Mortgage is a debt instrument that the borrower is obliged to pay back with a fixed set of payments and is secured by the collateral of a specified real estate property. Mortgages enable individuals and businesses to make large real estate purchases without paying the entire value of the purchase in one go. Borrowers repay the loan along with interest over a period of many years until they eventually own the property free and clear. However, if borrowers stop paying the mortgage, the lender can foreclose and may evict the property’s owner and sell it, using the income from the sale to clear the mortgage debt. In a fixed-rate mortgage system, borrowers pay the same interest rate for the life of the loan. Most fixed-rate mortgages have a 15 or 30-year term. There is no influence on borrowers’ payment if market interest rates rise. However, if market interest rates decline significantly, borrowers may be able to secure that lower rate by means of refinancing the mortgage. TechNavio's analysts forecast the Housing Mortgage market in the US to grow at a CAGR of 1.75 percent over the period 2013-2018.Covered in this Report This report covers the present scenario and the growth prospects of the Housing Mortgage market in the US for the period 2014-2018. To calculate the market size, the report considers the loan volume of primary housing mortgage banks, credit unions, and financial institutions. It takes into consideration the various product segments such as Home Purchase, Home Improvement, and Refinancing. The report mentions the role played by Federal Government by the way of government-sponsored enterprises operating in the system. TechNavio's report, the Housing Mortgage Market in the US 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the US; it also covers the landscape of the Housing Mortgage market in the US and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.Key Regions • USKey Vendors • Bank of America • Citigroup • JPMorgan Chase • U.S. Bancorp • Wells FargoOther Prominent Vendors • Ally Financial • Capital One Financial • Fifth Third Bancorp • Flagstar Bank, FSB • SunTrust Banks • Quicken Loans • Regions FinancialMarket Driver • Improved Demand for Home Loans • For a full, detailed list, view our reportMarket Challenge • Shrinking Lending Capacity • For a full, detailed list, view our reportMarket Trend • Less Incidence of Foreclosures • For a full, detailed list, view our reportKey Questions Answered in this Report • What will the market size be in 2018 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors?

In the fiscal year 2024, the revenue from the home remodeling business of Sumitomo Realty & Development Co., Ltd., "Shinchiku Sokkurisan," amounted to approximately ***** billion Japanese yen.Sumitomo Realty & Development is a Japanese real estate company that was established in 1949 and is headquartered in Tokyo. It engages in business segments such as leasing, sales, housing construction, and brokerage.

This statistic displays the leading home improvement brands in Denmark and in Sweden in the third quarter of 2018. According to the data published by USP Marketing Consultancy, approximately **** percent of the Danish respondents and ** percent of the Swedish respondents stated that Ikea was their favorite home improvement brand, whereas roughly ***** percent of Danes and nearly **** percent of Swedes mentioned Bosch as their top home improvement brand.

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Smart Connected Cooking Appliances Market Size 2024-2028

The smart connected cooking appliances market size is forecast to increase by USD 19.62 billion at a CAGR of 26.58% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. Firstly, the rising innovation in product and technology is driving the market, as manufacturers continue to develop advanced features and functionalities to enhance the user experience. Secondly, the increasing adoption of modular kitchens, which allow for the integration of smart home technology, is also fueling market growth. However, the high price of smart connected cooking appliances remains a challenge for the market, limiting their accessibility to a wider consumer base. Despite this, the benefits of energy efficiency, convenience, and improved cooking performance are expected to continue driving demand for these appliances in the coming years.

What will the size of the market be during the forecast period?

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The global market for smart kitchen appliances is experiencing significant growth due to several factors. The rise of single-person households and the increasing disposable income of tech-savvy homeowners have led to an increased demand for smart home appliances in the kitchen. Smart kitchen appliances, including refrigerators, blenders, smart coffee makers, and weighing scales, are becoming increasingly popular as they offer convenience, energy efficiency, and sustainability. Furthermore, the hospitality sector is also adopting smart technologies in kitchen appliances to improve efficiency and provide a better customer experience. The urban population, with a growing focus on healthy lifestyles, is also driving demand for smart appliances that can help prepare nutritious meals quickly and easily.
Design is another key factor driving the growth of the smart kitchen appliances market. Further, consumers are looking for appliances that not only offer advanced features but also fit seamlessly into their kitchen design. Traditional kitchen tools are being replaced by tiny, energy-efficient appliances that offer the same functionality but with a modern, tech-savvy twist. In conclusion, the market for smart kitchen appliances is expected to continue growing as more consumers embrace the convenience, energy efficiency, and sustainability benefits of these devices. Smart home language and connectivity, design, and energy efficiency are key trends driving the growth of this market.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Distribution Channel

  Offline
  Online


End-user

  Residential
  Commercial


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Distribution Channel Insights

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

The market is experiencing significant growth due to the integration of advanced technologies such as Food tracking, Meal planning, Monitoring and control, and Environmental sustainability. Residential and Commercial sectors are increasingly adopting these energy-efficient and AI-enabled appliances, including Cooking equipment like Blenders, Coffee makers, Weighing scales, Tiny appliances, Refrigerators, Ovens, Dishwashers, and Cooktops. Rising costs and home improvement projects, including remodeling tasks in older homes and modern kitchens, are driving the demand for these appliances.

Furthermore, traditional household structures are evolving towards sustainability, with a focus on reducing Food wastage and Energy efficiency. companies are also collaborating with retailers and implementing marketing strategies to boost sales through both online and offline channels. These initiatives aim to cater to consumers' preferences for convenience and eco-friendly cooking solutions, from Appetizers to Desserts, Entrees, Cocktails, and Cooking shows on TV.

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The offline segment was valued at USD 3.93 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 32% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The global market for smart connected cooking appliances experienced significant growth in 2023, with North America leadin

Consumer Finance Market By Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type, By Secured Consumer Finance Product Type, By Unsecured Consumer Finance Product Type, By Region, Competition Forecast and Opportunities

The global Home Elevator market is projected to grow from USD 3.4 billion in 2018 to USD X.X billion by 2028, at a CAGR of 13.1%, during the forecast period. The growth of this market can be attributed to the increasing demand for Home Elevators due to the rising elderly population and changing lifestyles across the globe.

A home elevator is a movable lift platform that transports people and goods between different levels of a building. Home elevators are often used in multi-level homes, where carrying groceries or other items up multiple flights of stairs would be time-consuming or difficult. They can also provide an alternative to using stairs in the event of a disability.

On the basis of types, the market is segmented into Roped Hydraulic, Pneumatic Vacuum, Winding Drum & Counterweight Chain Drive, Traction Drive.

Roped Hydraulic

Roped hydraulic elevators are the most common residential elevator type. These machines use a cylinder and oil to raise and lower the cabin, with steel ropes attached to both ends of the piston. They are by far the most popular option because they’re affordable, relatively simple in design, easy to maintain, and can be installed inside or outside your home.

Pneumatic Vacuum

A pneumatic Vacuum Elevator is a home elevator that uses air pressure to move the cabin up and down. A vacuum is created inside a cylinder above the carriage by using an electric pump. As soon as this occurs, suction pulls the carriage upwards until it reaches the desired floor level. The system can be operated with electricity or compressed air. Pneumatic Vacuum Elevators are not like traditional elevators since they don’t require cables, machine rooms, pit holes, or overhead tracks to operate; making them easy and fast to install in any residential building structure.

Winding Drum & Counterweight Chain Drive

This type of elevator is operated by a motor that powers a drum around which the cable wraps. The counterweight is attached to the opposite end of the cable from the car and helps keep the car stable as it moves. This system is typically used in smaller elevators, as it doesn't require a lot of horsepowers to operate. Winding Drum & Counterweight Chain Drive Systems are often less expensive than other types of elevator systems and can be installed in buildings with low ceilings.

Traction Drive

Traction drive is a technology that uses ropes and counterweights to move the elevator. It has been used in most elevators since the 1950s. Traction drives are one of the oldest technologies available for home elevators, but they remain very reliable and durable today. They’re highly customizable as well; you can choose from two-speed or variable speed motors depending on how fast you want your elevator to go up or down.

On the basis of Application, the market is segmented into High-rise Residential Buildings, Commercial Buildings.

High-rise Residential Buildings

A home elevator is a great addition to a high-rise residential building as it provides easy and comfortable access to all the floors. Home elevators can be used for moving people and goods between floors, and they can also be used as an emergency exit. In addition, home elevators improve the resale value of a property.

Some of the key uses of home elevators in high-rise residential buildings are given below:

– To move people and goods between floors

– As an emergency exit

– To improve the resale value of a property.

Commercial Buildings

- Home elevators provide an easy and comfortable way to move between floors in a commercial building.

- They can be used by employees, customers, or patients who need to move around the building quickly and easily.

- Home elevators are especially useful in buildings that have multiple stories or levels, such as hospitals, office buildings, and retail stores.

- They can also help improve safety and security in a building by providing an alternate means of evacuation in the event of a fire or other emergency.

On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

North America is expected to hold a major share of the global market, due to rising industrialization and urbanization. The construction sector in North America has witnessed substantial growth over

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Home Healthcare Services Market Size 2024-2028

The home healthcare services market size is forecast to increase by USD 51.53 billion at a CAGR of 10.03% between 2023 and 2028. The market is experiencing significant growth due to several key trends and drivers. The aging population, particularly those with chronic conditions such as pregnancy care services, cancer, respiratory conditions, cardiovascular conditions, hypertension, diabetes, hearing impairments, and others, are increasingly opting for home healthcare services for improved patient comfort and convenience. Additionally, the adoption of connected healthcare solutions, including telemedicine, home healthcare agencies, smart sensors, and telehealth platforms, is gaining acceptance among health organizations and patients. These technologies enable medical monitoring and remote patient care, addressing the limited availability of skilled workforce in remote areas. Overall, the home healthcare market is poised for growth, offering opportunities for innovation and improvement in patient care.

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The home healthcare sector is experiencing significant growth due to the increasing prevalence of chronic illnesses and an aging population. According to health systems, home healthcare services offer patient comfort and convenience, making them an attractive alternative to traditional institutional care. The services segment, which includes telehealth and virtual medical services, is expected to dominate the market due to the growing adoption of remote patient monitoring and telemedicine. Home healthcare agencies provide a range of services, including skilled nursing care, rehabilitation segment, and medical social services. These services cater to various needs, such as physical therapy, occupational therapy, speech therapy, and personal care support.

Furthermore, the rehabilitation segment is projected to witness substantial growth due to the rising incidence of chronic diseases and the increasing preference for home-based care. Smart sensors and telehealth platforms enable healthcare organizations to monitor patients remotely and provide timely interventions, improving patient outcomes and reducing hospital readmissions. The integration of educational services and licensed healthcare providers further enhances the quality of care delivered through home healthcare services.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Therapeutic services
  Diagnostic services
  Others


Geography

  North America

    US


  Asia

    China
    India


  Europe

    Germany
    UK


  Rest of World (ROW)

By Application Insights

The therapeutic services segment is estimated to witness significant growth during the forecast period. Home healthcare services encompass a range of unskilled and skilled services designed to cater to the medical needs of individuals in the comfort of their homes. These services include medical expenditure for therapeutic, diagnostic, and mobility assistance for those with neurological and mental disorders, such as Alzheimer's disease and mobility disorders, as well as lifestyle diseases like obesity. Skilled nursing services are essential for critically ill patients or those at high risk of medical conditions, who may require home intensive care unit (ICU) services. Postoperative care, primary care, and geriatric population care are also integral parts of home healthcare services.

Furthermore, with healthcare reforms emphasizing value-based care services, patient monitoring devices have become increasingly important for remote patient monitoring and early intervention. Home healthcare services are a crucial component of the healthcare industry, providing essential care for individuals with diverse medical needs. Skilled healthcare professionals offer therapeutic services, including wound management and rehabilitation, to help patients recover from surgeries and medical conditions, ensuring optimal health outcomes.

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The therapeutic services segment was valued at USD 28.79 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions Request Free Sample

The market in North America is experiencing significant growth due to several factors. The increasing prevalence of chronic conditions such as neurological and mental disorders, m

This statistic presents the expected compound annual growth rate (CAGR) of online retail sales in Colombia from 2017 to 2018, as well as a forecast thereof for the period 2017 to 2022, by category. The sources estimate that online retail sales of home improvement products will grow by around 1,231 percent between 2017 and 2022.

As per Cognitive Market Research's latest published report, the Global Broadloom Carpet market size will be USD 70,494.16 Million by 2028. Broadloom Carpet Industry's Compound Annual Growth Rate will be 3.08% from 2023 to 2030.

North America Broadloom Carpet market size is estimated to reach USD 23,707.19 Million by 2028.

What is Driving Broadloom Carpet Industry Growth?

Rise in the number of renovations and remodeling

Renovation is the process of repairing and improving a building so that it is in good condition again, or the improvements that are carried out. Renovation (also called remodeling) is the process of improving a broken, damaged, or outdated structure. Renovations are typically either commercial or residential. In its 10th annual Houzz & Home survey, Houzz found that home renovation has grown 15% in the past year, with kitchens, outdoor spaces, home offices and technology getting the most attention. And the increase in renovation is only expected to continue, with 56% of the homeowners surveyed planning some type of renovation project in 2021, the highest percentage since 2017 at 52%. In 2020, the survey shows that the median home renovation spend was $15,000, and higher budget projects saw an increase from $80,000 per project in 2018 and 2019 to $85,000 last year. The reasons for the increase in home renovation are varied: 44% said they finally had time for the project; 36% said they finally have the financial means; 25% decided to renovate rather than move; and 18% said they remodeled to adapt to a recent change in lifestyle. Homeowners also stepped up their remodeling investment in smaller areas of the home that may have once been considered a luxury and are now a necessity. Demand for home office projects increased by four percentage points to 14% of the projects and spending on those projects increased by 10% in 2020, to a median of $1,100. In regions with mostly cold climates, carpets & rugs are used for keeping the floor from getting too cold. A few decades ago, the demand for carpets & rugs was the highest in developed economies. This rise in renovation and remodeling is driving the demand for broadloom carpets.

Restraints for Broadloom Carpet Market

Cost of raw material and manual looms (Access Detailed Analysis in the Full Report Version)

Opportunities for Broadloom Carpet Market

Technological Advancement (Access Detailed Analysis in the Full Report Version)

What is Broadloom Carpet?

A loom is a device that is used to weave fabric. For hand weaving, it holds in place the fibers running in one direction, so that the fibers going in the opposite direction may be interwoven. There are two primary types of carpets you can choose from, broadloom carpets and standard carpet tiles. Broadloom is the traditional and still most popular choice of carpeting, and it comes with many design options, including patterns, colors, and even mosaics — nearly limitless aesthetic possibilities. Historically, carpets were hand woven on looms, so the term ‘broad loom’ literally meant a loom that was wider than the average loom size and used to make a large carpet. The term broadloom is defined as carpet that is woven on a wide loom, and it generally refers to tufted carpet that is installed wall-to-wall. Broadloom is sold on rolls that are a standard width. They are usually 12 feet wide, but can also be 15 feet or 13 feet 6 inches wide.

Broadloom is the traditional and still most popular choice of carpeting in corporate flooring, and it comes with many design options, including patterns, colors, and even mosaics — nearly limitless aesthetic possibilities. Since broadloom is installed over a carpet pad, it can look great even if your substrate has minor imperfections. The aesthetic possibilities are endless, meaning there is a broadloom carpet to match every space and style. Some high-quality broadloom also comes with a moisture backing that offers stain resistance. Quality broadloom that comes with a moisture backing offers superior stain resistance, and seams can be hidden well using chemical welding. Certain broadloom with the right underlay material can be used to create a softer and plusher feel than carpet tile allows. When used for area carpeting, these carpets have the advantage of being installed without creating seams. Because they are woven on large looms, they can be made to a...

The global basin top market, valued at $1918 million in 2018, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 4.0% from 2019 to 2033. This growth is fueled by several key factors. Increasing urbanization and rising disposable incomes in developing economies are driving demand for improved bathroom amenities, including stylish and functional basin tops. The growing preference for modern and aesthetically pleasing bathroom designs, coupled with the increasing adoption of smart home technologies integrated into bathroom fixtures, further contributes to market expansion. Furthermore, the hospitality and commercial sectors are significant contributors to market growth, demanding high-quality and durable basin tops for their facilities. Key players such as Acorn, Acquabella, and Flaminia are leveraging innovative designs and materials to cater to evolving consumer preferences and maintain a competitive edge. The market is segmented based on material type (ceramic, stone, glass, etc.), design (undermount, vessel, wall-mounted), and price range (luxury, mid-range, budget). While precise segmental data is unavailable, industry analysis suggests that ceramic basin tops currently dominate due to their cost-effectiveness and widespread availability, though the premium segments, such as stone and glass, are witnessing faster growth driven by consumer preference for high-end products. Competitive pressures and fluctuating raw material prices pose potential challenges to market growth, but overall, the outlook remains positive for the basin top market. The projected market size for 2025, considering the 4.0% CAGR from 2018, is estimated to be approximately $2500 million. This estimation reflects a consistent growth trajectory, taking into account typical market expansion within the construction and home improvement sectors. The forecast period of 2025-2033 anticipates continued growth, driven by factors previously discussed. However, it is important to acknowledge that external factors like economic downturns or significant shifts in consumer preferences could influence the actual market performance. Ongoing innovation in materials and designs, combined with strategic marketing and distribution efforts by key industry players, are vital for maintaining the projected growth rate. This report provides a detailed analysis of the global basin top market, offering valuable insights for businesses operating within this dynamic sector. We delve into market size, segmentation, key players, emerging trends, and future growth potential. The global basin top market is estimated to be worth $2.5 billion in 2024, projected to reach $3.2 billion by 2029, exhibiting a healthy Compound Annual Growth Rate (CAGR).

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Residential Digital Faucets Market Size Report 2024-2028

The residential digital faucets market size is forecast to increase by USD 2.40 billion at a CAGR of 6.92% between 2023 and 2028. The market is experiencing significant growth due to several key factors. Firstly, the increasing consumer expenditure on bathroom and kitchen remodeling projects is driving demand for advanced and technologically innovative faucets. Secondly, the flourishing residential construction industry is providing new opportunities for market expansion. Lastly, technological advancements in digital faucets, such as touchless controls, temperature regulation, and energy efficiency, are making these products increasingly desirable for homeowners. As a result, the market for residential digital faucets is poised for continued growth in the coming years. Our report examines historical data from 2018 - 2022, besides analyzing the current and forecasted market scenario.

The market in the region is experiencing significant growth due to escalating consumer expenditures on bathroom and kitchen remodeling and renovation projects. Innovative offerings from digital faucet manufacturers are further fueling this trend, as consumers are increasingly drawn to these advanced products. These faucets, equipped with features such as touchless control, temperature regulation, and energy efficiency, add value and convenience to homeowners' daily lives. As a result, the market for residential digital faucets is poised for continued expansion in the region.

What will the Residential Digital Faucets Market Size be during the Forecast Period?

Market Forecast 2023-2027

To learn more about this report, Request Residential Digital Faucets Market Analysis Report Free Sample

Residential Digital Faucets Market Dynamics

This market report predicts significant growth in the Metal Industry, driven by advancements in Artificial Intelligence and the Internet of Things. Smart Toilets, equipped with IR Sensors and Motion Sensors, are becoming increasingly popular, leading to an increased demand for digital faucets. E commerce Platforms provide a convenient Online Distribution Channel for these products, making them easily accessible to consumers. Residential digital faucets offer Multi functionality faucets, including personalized temperature control, water flow adjustment, and aesthetic appeal. The Trend of remodeling homes has led to digital faucets becoming a Style Statement in the residential segment. Strategic acquisitions by manufacturers have expanded their offerings in the Commercial Faucet Segment, including the Hospitality Sector. The digital faucet system consists of a metal portion, water system, handle, cartridge, spout, mixing chamber, aerator, and intake source. These components work together to provide a seamless and efficient water delivery experience. Overall, the market is poised for continued growth, offering consumers convenience, functionality, and design innovation. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.

Key Residential Digital Faucets Market Driver- Technological advancements in residential digital faucets

The plumbing sector is witnessing significant growth in the adoption of residential digital faucets, driven by the increasing consumer preference for water-saving technology and sensor-based fixtures in bathroom and kitchen applications. These advanced faucets, which include sink faucets, bidet faucets, and sanitary ware faucets, are increasingly becoming a popular choice for homeowners undergoing bathroom and kitchen remodeling projects.

Furthermore, faucets rank among the top upgraded features during these home improvement initiatives in the US, with a substantial portion of the expenditure allocated to residential digital faucets. The latest technological advancements, such as flow control and temperature control features, are major factors contributing to the rising demand for these products in the market. Overall, these factors will be a major factor in boosting the growth of the market during the forecast period.

Significant Residential Digital Faucets Market Trends - Strong distribution network between manufacturers and retailers

In the plumbing sector, the market is witnessing significant growth as companies prioritize expanding their distribution networks with retailers and e-commerce partners. This strategy is crucial for establishing a strong global presence, particularly in countries like China and India, where the market remains largely unorganized. companies are also investing in advanced technologies, such as water saving mechanisms and sensor-based faucets, to cater to evolving consumer preferences.

Furthermore, major players in the market, including Kohler, LIXIL, and Masco, are capitalizing on the growing po

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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

Unsecured Loan Market By Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type, By Provider Type, By Interest Rate, By Tenure, By Region, Competition Forecast and Opportunities

In the diy & hardware store market in Central America in 2024, the DIY & hardware store segment generated the highest revenue, reaching approximately 11.79 billion U.S. dollars. The hardware & building materials segment ranked second with around eight billion U.S. dollars, while lawn & garden followed with about 1.15 billion U.S. dollars.

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Polyvinyl Chloride Decking Market Size 2024-2028

The Polyvinyl Chloride (PVC) Decking Market size is estimated to grow by USD 645.87 million at a CAGR of 8.02% between 2023 and 2028. Market growth is driven by the resurgence of the construction industry, growing demand for customized decking solutions, and shifting lifestyles favoring outdoor living spaces. The revival in construction boosts infrastructure development and housing projects, stimulating demand for construction materials like decking. Additionally, there is a rising trend towards personalized outdoor spaces, prompting the need for tailored decking solutions to enhance aesthetic appeal and functionality. Changing lifestyles, and emphasizing outdoor leisure and entertainment, further drive the adoption of decking products. These factors collectively underscore opportunities in the market, urging stakeholders to innovate and meet evolving consumer preferences for enhanced outdoor living experiences. The market forecast report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.

What will be the Market Size During the Forecast Period?

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Market Segmentation

By Application

The market share growth by the residential segment will be significant during the forecast period. The increase in residential construction activities in North America, Europe, and APAC is expected to drive the growth of the residential segment. The increasing disposable incomes of people and rapid urbanization in countries in APAC, such as China, India, Malaysia, and Indonesia, are necessitating the construction of new residences and public infrastructure in APAC.

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The residential segment was the largest and was valued at USD 677.13 million in 2018. Further, the growing investment by countries such as the US and Germany for remodeling and renovation of residential buildings is anticipated to boost the growth of the market. Moreover, the growing residential construction industry in Middle Eastern countries such as the UAE will propel the demand. For instance, in August 2022, in the heart of MBR City, Dubai, Azizi Developments unveiled Riviera Reve, the fourth and most opulent phase of its exclusive French Mediterranean-inspired community project. Riviera Reve, the most upscale and exclusive section of Riviera, will include 24 ultra-luxury buildings, with 5,061 houses that include more than 2,600 studio apartments, 1,579 one-bedroom units, and 876 two-bedroom units. Thus, such developments in the residential construction industry will foster the growth of the global market through the residential segment during the forecast period.

By Type

Based on the type, the market has been segmented into capped composite and uncapped composite. The capped composite?segment will account for the largest share of this segment.?This is majorly used in residential and non-residential applications because of its physical properties. The introduction of capped composites in various regions such as APAC, MEA, and Europe, in addition to the increasing product awareness and the benefits associated with this segment, is expected to drive the growth of the capped composite segment in the market during the forecast period.

Market Region Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Further, most residences in North America have decks. Between 2010 and 2021, there was an increase in the construction of single-family homes in the US with decking. In 2021, there were 50,000 single-family houses with decks built, as compared with 32,000 single-family houses in 2010. The demand is rising in North America to enjoy life with personal outdoor spaces and improve their homes with affordable alternatives. Customers are increasingly investing in renovation and home improvement services in addition to raising the value of their homes. Moreover, the increase in home renovation and housing completions will be the main factors driving the demand during the forecast period. More restaurants and hotels are anticipated to build decks as a part of the outdoor living trend to provide customers with appealing spaces to lounge and eat outdoors. Thus, all the abovementioned factors will drive the growth of the market in North America during the forecast period.

Market Dynamics and Customer Landscape

The market is characterized by its use of recycled plastic material to create durable and environmentally friendly plastic decking solutions. PVC decking offers aes

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Power Tool Accessories Market Size 2024-2028

The power tool accessories market size is forecast to increase by USD 577.7 million at a CAGR of 3.84% between 2023 and 2028. The market is experiencing significant growth due to various driving factors. One of the primary factors is the increase in sales of passenger cars, leading to a rise in DIY automotive repairs and home improvement projects. Another trend influencing the market is the increased integration of the Internet of Things (IoT) in manufacturing processes, enabling the production of smart power tools and accessories. However, the market faces challenges, including the decline in construction and automobile sales in China, a major consumer market, which may impact the demand for power tools and their accessories. Despite these challenges, the market is expected to grow steadily, driven by technological advancements and the increasing popularity of cordless power tools.

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The market is a significant segment of the power tools industry, encompassing a wide range of products used for cutting, drilling, sanding, and polishing on various surfaces, including wood and metal. Key accessories include drill bits, screwdrivers, router bits, abrasive wheels, saw blades, chippers, threading products, and fabricated metals or stamped metal products. Fasteners are another essential accessory category. Accessories for cutting and drilling tools include drill machine bits such as drill bits, circular saw blades, jig saw blades, band saw blades, reciprocating saw blades, and milter saw blades. Springs are used in various power tools for their mechanical advantage.

Moreover, cordless power tools, driven by lithium-ion (Li-ion) batteries, have gained popularity in both professional and consumer markets. Sanding and polishing accessories include sandpaper, abrasive pads, and buffing pads made of rubber. Accessories for professional use often cater to heavy-duty applications in mass townships and public construction projects.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Professional
  Consumer


Type

  Drill bits
  Screwdriver bits
  Router bits
  Others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By End-user Insights

The professional segment is estimated to witness significant growth during the forecast period. The global market encompasses a wide range of products, including Drills, Screwdrivers, Router bits, abrasive wheels, Saw blades, Chippers, Threading products, and various types of bits and blades for Fabricated metals and Stamped metal products. These accessories cater to the demands of both the professional and consumer segments. In the professional sector, the construction, manufacturing, aerospace, and logistics industries drive the market due to their extensive use of power tools and accessories. Professionals prioritize quality and durability over cost, leading to a higher demand for accessories for Cordless power tools, Lithium-ion batteries, Hammer drills, Impact wrenches, Circular saws, and other power tools.

Moreover, the professional segment also shows a preference for pneumatic and hydraulic power tools, necessitating a significant demand for their corresponding accessories. Additionally, the adoption of smart technologies, energy-efficient power tools, and urbanization trends further boosts the market growth. The market for Sanding and Polishing, Cutting, and Drilling accessories is expected to witness substantial growth due to the increasing demand for these power tools in various industries.

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The professional segment was valued at USD 938.60 million in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market is witnessing significant growth due to the increasing demand for renovation and construction activities in both residential and commercial sectors. The market is witnessing demand from various end-user industries such as housing, public construction projects, renewable energy, telecommunications, and mass townships. Metal surfaces, particularly in high-rise buildings and infrastructure projects, are major consumers of power tool accessories, driving the market's growth. Router machines are

Frozen Italian Meals Market Outlook

According to our latest research, the global frozen Italian meals market size reached USD 17.6 billion in 2024. The market demonstrated a robust performance, expanding at a CAGR of 5.1% from 2018 to 2024, driven by the increasing demand for convenient, ready-to-eat meal solutions. Looking ahead, the market is projected to reach USD 27.7 billion by 2033, maintaining a steady growth trajectory with a forecasted CAGR of 5.2% during the period 2025 to 2033. This growth is primarily fueled by evolving consumer lifestyles, rising disposable incomes, and the increasing influence of Western cuisines across emerging economies.

A significant growth factor propelling the frozen Italian meals market is the global shift towards convenience-oriented food consumption. Modern consumers, especially urban dwellers, are increasingly pressed for time due to fast-paced lifestyles and demanding work schedules. This has driven a surge in demand for ready-to-eat and easy-to-prepare meal options, with frozen Italian meals standing out due to their combination of taste, variety, and quick preparation. Products such as frozen pizza, lasagna, and pasta have become staples in household freezers, offering a restaurant-quality experience at home. The proliferation of dual-income households and the growing millennial demographic, who often prioritize convenience and quality, further amplify this trend. Manufacturers are responding by expanding their product portfolios, introducing innovative flavors, and improving packaging technologies to enhance shelf life and retain product freshness, thus boosting overall market growth.

Another key driver is the rising influence of Italian cuisine on global food culture. Italian dishes, renowned for their rich flavors and diverse ingredients, have gained widespread popularity, transcending geographical boundaries. The globalization of foodservice chains and the expansion of Italian-themed restaurants have familiarized consumers with authentic Italian flavors, subsequently increasing the demand for similar experiences at home. This cultural shift is further reinforced by aggressive marketing campaigns and collaborations between food brands and celebrity chefs, which have elevated the perceived value of frozen Italian meals. Additionally, the growing trend of home dining and social gatherings, especially post-pandemic, has heightened the appeal of convenient yet gourmet meal options, positioning frozen Italian meals as a preferred choice for consumers seeking both quality and convenience.

The market is also being shaped by advancements in food processing and freezing technologies. Innovations such as flash-freezing, vacuum sealing, and improved cold-chain logistics have significantly enhanced the quality, texture, and nutritional value of frozen Italian meals. These technological improvements address longstanding consumer concerns regarding taste and health, making frozen products more appealing to health-conscious buyers. Moreover, the industry is witnessing a surge in the introduction of organic, gluten-free, and vegan Italian meal options, catering to the growing segment of health-aware consumers. The integration of clean-label ingredients and transparent sourcing practices is further strengthening consumer trust and expanding the market’s reach among discerning buyers who prioritize both convenience and wellness.

From a regional perspective, Europe continues to dominate the frozen Italian meals market, accounting for the largest share in 2024, followed closely by North America. The region’s long-standing affinity for Italian cuisine, coupled with a mature frozen foods industry, underpins its leadership position. Meanwhile, Asia Pacific is emerging as the fastest-growing market, fueled by rapid urbanization, rising disposable incomes, and increasing exposure to Western food cultures. Countries such as China, Japan, and India are witnessing a surge in demand for premium frozen meals, supported by expanding retail infrastructure and growing e-commerce penetration. Latin America and the Middle East & Africa, while still nascent markets, are showing promising growth potential, driven by urbanization and a growing young population open to global culinary experiences.

Product Type Analysis

The product type segment of the frozen Italian meals market is highly diversified, encompassing a wide range of offerings such as pizza, pasta, lasagna, risotto, cannelloni, and others. Among these, frozen pizza remains the