Home Depot was the leading home improvement retailer in Canada in 2023, with sales amounting to around **** billion Canadian dollars. Home Hardware and Rona stores ranked in second and third places, with sales of around *** and *** billion Canadian dollars respectively. Home Depot origins Home Depot, the American home improvement retailer, was founded in 1978. The company’s original aim was to build retail superstores larger than any of their competitors and the first two stores were opened in Atlanta, Georgia in the next year. In 1981, the retailer branched out of Georgia and began to open more stores in different states and later entered neighboring markets. By 2023, Home Depot operated over ***** big-box home improvement stores across the whole of North America and Mexico. Fierce competition in the global home improvement sector In terms of sales, Home Depot is by far the leading home improvement retail company worldwide. Lowes, however, remains competitive. Home Depot only had about 400 more stores than Lowes worldwide in 2023, and on average that year, consumers actually spent more money at Lowes.

The Canadian Home Improvement Stores industry caters to a range of markets, including professional, do-it-for-me (DIFM) and do-it-yourself customers (DIY). Retailers offer a broad range of products to improve existing structures and construct new ones. While the industry heavily relies on the health of the overall economy, it also depends on dynamics in construction-related markets. Through the end of 2025, volatile construction markets and external competition have become more prominent, posing a threat to home improvement stores. Despite significant economic and geopolitical volatility hindering consumer confidence, revenue jumped in 2024 and 2025 as renovation spending and leisure time expanded. Revenue for home improvement stores is expected to swell at a CAGR of 2.4% to $38.3 billion through the end of 2025, including a jump of 1.4% in 2025 alone. Volatile market dynamics and rising rent and utility costs have fuelled a dip in profit. Home improvement stores sell fairly homogenous product lines, which has heightened price-based competition. Because of this, a few key companies that leverage economies of scale to accumulate and maintain high market shares largely dominate the industry. In recent years, the industry's largest stores have expanded their offerings to include complementary services like window and roof installation, which have helped them cope with fluctuations in downstream markets over the past five years. With large companies like Home Depot of Canada Inc. and RONA Inc. expanding their footprints, smaller stores have struggled to remain profitable. Global economic uncertainty will loom large for home improvement stores through the end of 2030. The largest stores will control more market share, so the industry will be closely tied to the performance of these companies. Home improvement stores will be forced to expand their service offerings and price-based promotions as competition picks up. However, stabilization in construction markets will support steady growth over the next five years. Overall, industry revenue is expected to expand at a CAGR of 1.2% to $40.7 billion through the end of 2030.

This statistic displays consumers' favorite DIY or home improvement retailer in Canada as of March 2019. According to a survey carried out by ProdegeMR, some 41.8 percent of respondents stated that Home Depot was their DIY and home improvement retailer of choice.

This statistic shows the market share of the top 10 home improvement retailers in Canada in 2013. RONA Inc. ranked first based on market share in 2013, accounting for **** percent of the home improvement industry in Canada.

Home Depot had a total of ***** stores in operation throughout the United States as of the end of the fiscal year 2024. The home improvement and DIY retailer also operates stores in Canada and Mexico and had a total of ***** stores worldwide in that same year. Home improvement retail in the United States Home Depot is one of the best-known and valuable retail brands in the United States. Home Depot operates within the U.S. home improvement industry, which has witnessed steady sales growth over the past years, with this trend expected to continue in the coming years. This trend shows that home owners are putting substantial sums of money into home repair, home improvement, and remodeling projects. Home Depot As of 2024, Home Depot was the leading hardware and home improvement retailer in the United States, with U.S. retail sales of around *** billion U.S. dollars. The company's product categories include building materials, appliances, tools, and hardware, among others. Lowe’s, Ace Hardware, and Menards are Home Depots’ main competitors in the United States.

There were 182 Home Depot stores across Canada as of 2024. Ontario was home to 88, the most stores by far. Alberta and British Columbia were ranked in second and third places, with 27 and 26 stores located in each province, respectively. Home Depot origins Home Depot, the American home improvement retailer, was founded in 1978. The company’s original aim was to build retail superstores larger than any of their competitors and the first two stores were opened in Atlanta, Georgia in the next year. In 1981, the retailer branched out of Georgia and began to open more stores in different states and later entered neighboring markets. By the end of the fiscal year 2024, Home Depot operated over 2,300 big-box home improvement stores across North America. The Canadian home improvement market Canadian home improvement industry sales have mostly witnessed year-on-year growth, predicted to reach around 62 billion Canadian dollars in 2023. When it comes to retailers, Home Depot was the industry leader in terms of annual sales. In 2023, Home Depot brought in approximately 11.6 billion Canadian dollars of sales. Home Hardware Stores and RONA follow in second and third places, with sales of 9.1 and 8.5 billion Canadian dollars respectively in that year.

Canada's Lumber and Building Material Stores industry has exhibited volatility because of fluctuations in construction markets. The pandemic greatly contributed to industry volatility, with housing starts ballooning in 2020 amid low interest rates. At the same time, the pandemic and associated business closures and work stoppages depleted private nonresidential construction markets. This trend has partially reversed as recent interest rate hikes have dissuaded investment in residential construction while commercial construction markets have grown. The ebb and flow of these markets have largely offset each other. Overall, revenue for lumber and building material stores is expected to climb at a CAGR of 2.3% to $7.7 billion through the end of 2024, including growth of 1.3% in 2024. Profit has been pressured by a complicated supply and demand environment and has not returned to pre-pandemic levels. Most lumber and building materials stores are relatively small operations that endure fierce competition from big-box retailers and wholesalers. Companies in these external industries can leverage their large size to achieve economies of scale. Big box stores can save on purchasing costs by buying in bulk and passing their savings down to consumers. Many lumber and building material stores have joined cooperatives or distribution networks to take on these large stores. Members of these businesses have benefited from growing purchasing power and business services, achieving economies of scale while remaining operational at a single location or local level. Stores are poised to undergo more pronounced growth as the economy normalizes following volatile conditions. While interest rates will remain above coronavirus-era lows, a robust rejuvenation in private nonresidential construction activity will boost sales. Growth in housing starts, alongside climbing residential and nonresidential construction values, will benefit stores in the coming years. The growing popularity of new, sustainable materials will also contribute to profit growth. Revenue is expected to swell at a CAGR of 2.7% to $8.8 billion through the end of 2029.

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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?

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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

In Canada Smart Home Hardware Market, Home security is a top priority for many homeowners, and smart home hardware offers innovative solutions to enhance security and safety.

Floor covering stores have endured significant volatility in recent years. Higher incomes have encouraged sales of premium flooring products, while a healthy residential market translates into more robust sales. But, volatility from the pandemic disrupted growth, with retailers struggling to contend with the sudden disruption to their downstream markets, labour force and supply chains even as spending on home improvements surged; although retailers that adopted e-commerce platforms benefited from higher sales. Growing housing starts in 2020 and 2021 supported revenue gains as consumers took on more home improvement projects. However, weaker macroeconomic conditions in 2022 and 2023, mainly driven by high interest rates, elevated inflation and consumer uncertainty, caused revenue to weaken, although falling short of making up pandemic-related gains. These trends have led revenue to grow at an estimated CAGR of 3.0% to $6.3 billion through the end of 2024, remaining stable during that year. Home improvement stores like Home Depot and Lowes have bolstered their position as leading destinations for homeowners, builders and contractors in recent years, enjoying sales previously reserved for floor covering stores. These retailers saw sales soar during the pandemic by offering consumers a more convenient and safer one-stop shopping stop for home improvement projects. In contrast, floor covering stores were more exposed to pandemic-related volatility. Mounting competition has prevented floor covering stores from fully recovering from pandemic-related profit losses.Over the coming years, retailers will benefit from a recovering economy. Rising disposable income and growing consumer confidence will push consumers to spend more on home improvement, supporting flooring sales. Similarly, interest rate cuts and programs looking to develop more housing will support growing construction activity, driving demand. Competition from alternative retailers will remain the most pressing challenge to the industry, forcing small, local stores out of the market. In all, revenue is forecast to grow at a CAGR of 2.0% through 2028 to $6.9 billion.

The Hardware Manufacturing industry in Canada has been defined by volatile trade and downstream markets over the past five years. Companies in the Household Furniture Manufacturing and Car and Automobile Manufacturing industries in Canada, as well as construction markets and consumers, purchase hardware products manufactured by this industry. A strong housing market, driven by low interest rates due to the pandemic, supported the industry in 2020 and 2021, but declines in residential construction late in the period hurt demand for industry goods. Still, overall growth in the number of housing starts has staved off sharper declines amid economic uncertainty. Revenue is forecast to fall at a CAGR of 3.0% to $2.1 billion through the end of 2024, with a forecast rise of 2.6% during the current year as spending begins to recover. A major threat to this industry is the strong share of domestic demand that is satisfied by imports. Import penetration from countries with lower wages and production costs, has contributed to the strong competition faced by operators. Many companies transferred production from Canada to low labor cost countries like China and Mexico. Import competition has led to plant closures and consolidation, as some domestic operators have been unable to compete with less expensive imports. Despite the appreciation of the Canadian dollar over the past five years, imports were hindered, supporting industry growth. Companies are estimated to have maintained acceptable operating profit levels by effectively managing costs. The industry is forecast to resume growth over the next five years, with exports aided by a weaker Canadian dollar. Construction markets both domestically and in the US are expected to stabilize as the economy adjusts to lower interest rates. Consequently, revenue is expected to increase at a CAGR of 1.1% to $2.2 billion through the end of 2029.

Tool and hardware wholesaling's performance largely hinges on domestic manufacturing and construction output, though some wholesalers near the border also serve markets in the United States. Canadian wholesalers benefited greatly in 2020 and 2021 as near-zero interest rates and higher disposable income led to a drastic jump in housing starts. Worsening macroeconomic factors, including heightened economic uncertainty, rising inflationary pressures and higher interest rates, negatively impacted distributors, harming demand from the nonresidential and manufacturing sectors. However, these losses failed to reverse the gains from the residential sector. These trends have caused revenue to grow at an estimated CAGR of 5.9% to $23.2 billion through the end of 2024, including a 1.2% dip that year alone. Wholesale bypassing trends are becoming more common among upstream manufacturers and downstream buyers as both aim to become more profitable. Upstream manufacturers face significant competition from foreign producers. These imports are generally produced by foreign manufacturers with a minimal domestic presence and distributed through domestic wholesalers. As a result, wholesalers carrying imported products can offer competitively priced products, partially protecting them from wholesale bypass trends. Despite this, distributors have also been impacted by fluctuating input prices, including steel and plastic, driving purchase costs higher and placing downward pressure on profit. Demand from wholesalers will continue to grow over the upcoming years, although at a significantly slower rate. As the Canadian economy recovers, demand for manufactured products and construction projects will rise. Although downstream manufacturers will continue to be threatened by significant import penetration, industrial capacity utilization will rise, creating a need for wholesalers. Similarly, the Bank of Canada's lowering of interest rates will push down long-term borrowing costs and support construction and manufacturing activity. These trends will cause revenue to grow at an estimated CAGR of 1.2% through 2029.

Home Depot had *** stores in the state of California alone at the end of the fiscal year 2024. Texas, Florida, and New York were the states with the next largest number of Home Depot stores, with each state having at least *** stores. As of 2024, the total number of Home Depot stores throughout the United States and its territories was *****. Home Depot also operates stores in Canada and Mexico. Home improvement retail in the United States Home Depot is one of the best-known and valuable retailers in the United States. Home Depot operates within the U.S. home improvement industry, which has witnessed steady sales growth over the past years, with this trend expected to continue in the coming years. Leading home improvement retailers As of 2023, Home Depot was the leading hardware and home improvement retailer in the United States. The company's products include building materials, appliances, tools, and hardware among many others. Lowe’s, Ace Hardware and Menards are Home Depot’s main competitors in the United States.

More than half of the surveyed Canadian homeowners planned to improve their outdoor space in 2021. The second-most popular area to renovate was the bathroom, with nearly ********* of Canadian homeowners planning renovations. The coronavirus pandemic caused a surge in home improvement projects in the United States as well. In the U.S., the outdoor area was also the most popular renovation category during the pandemic.

Homebuilders have endured considerable volatility. Immigration into Canada has translated into unprecedented population growth, driving a deepening housing crisis. New housing starts haven't kept up with the population growth, making homebuilders more critical than ever to meet housing needs. Home shortages and changes in buying behaviour supported homebuilders during the COVID-19 pandemic. Still, the pandemic's disruption to global supply chains didn't spare contractors, with equipment and material costs reaching unprecedented highs. Interest rate hikes in 2022 and 2023 slowed new relevant housing construction, spurring apartment building construction as consumers increasingly sought out renting. Also, the First Time Homebuyer Incentive, which seemed like a potential boon to homebuilders, largely lacked success and was repealed. Industry-wide revenue has been declining at a CAGR of 0.1% over the past five years – totaling an estimated $29.7 billion in 2025 – when revenue will climb an estimated 2.7%. The Bank of Canada raising rates in 2022 and 2023 led to a massive slowdown for homebuilders, even as the Canadian government tried to ramp up the number of housing units. Higher interest rates make developers cautious about new projects, drive up construction costs for builders and push potential home buyers out of the market. The Bank of Canada has decreased rates in 2024 and 2025 for the first time since 2022, potentially providing a boost to homebuilders. Labour shortages for home builders have hiked wage costs and hindered profit. Homebuilders will enjoy solid growth over the next five years. Interest rate cuts and low housing supply will spur downstream homebuying activity. Still, labour shortages and material costs will continue to strain contractors' capacity. Such challenges will be complex for the broader construction sector, allowing federal and provincial governments to introduce programs focusing on workforce development and tech adoption. Government initiatives like the First-Time Home Buyers’ Tax Credit, the First Home Savings Account (FHSA) and the Home Buyers Plan (HBP) will support homebuilding. Homebuilders' revenue is forecast to expand at a CAGR of 2.0% to $32.8 billion through the end of 2030.

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Data Center And Network 3P Hardware Maintenance Service Market Size 2025-2029

The data center and network 3p hardware maintenance service market size is forecast to increase by USD 4.15 billion, at a CAGR of 14.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing spending on data centers and the expansion of hyperscale cloud companies. The rise in data center spending is fueled by the digital transformation initiatives of businesses and the growing demand for cloud services. Hyperscale cloud companies, in particular, are leading this trend, as they require vast amounts of computing power and storage capacity to support their massive user bases. However, the market also faces challenges, including issues related to data center service outsourcing. As more organizations opt for outsourcing their data center maintenance services, they encounter challenges such as ensuring service quality, maintaining data security, and managing company relationships.
These challenges require companies to carefully evaluate potential service providers and implement robust service level agreements to mitigate risks and ensure optimal performance. To capitalize on the market opportunities and navigate these challenges effectively, companies must focus on building strong company relationships, investing in advanced technologies, and implementing rigorous service level agreements.

What will be the Size of the Data Center And Network 3P Hardware Maintenance Service Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, driven by the ever-changing dynamics of data center infrastructure and network requirements across various sectors. Preventive maintenance plays a crucial role in ensuring infrastructure sustainability and reducing energy consumption. On-site support and technical assistance are essential for data center infrastructure uptime, business continuity, and cost optimization. Corrective maintenance is necessary for addressing hardware issues, while power management and data center consolidation are integral to improving efficiency. Contract management, disaster recovery, and data center security are vital components of comprehensive maintenance services. Spare parts management, cooling systems, and inventory management are essential for maintaining optimal network performance and ensuring hardware availability.

Software upgrades, data center virtualization, and value-added services are increasingly popular offerings. Network infrastructure and network virtualization, remote monitoring, and network capacity planning are essential for network optimization. Firmware updates, IT asset management, hardware lifecycles, and infrastructure uptime are critical considerations for service providers. Service contract negotiation, remote support, and certified technicians are essential for effective maintenance services. Server maintenance, network device maintenance, and hardware maintenance are ongoing requirements for businesses seeking to maximize their technology investments. The market's continuous evolution reflects the importance of technical expertise, cloud migration, and data center optimization in today's digital landscape. As businesses increasingly rely on technology to drive growth and innovation, the demand for reliable and efficient hardware maintenance services will only continue to grow.

How is this Data Center And Network 3P Hardware Maintenance Service Industry segmented?

The data center and network 3p hardware maintenance service 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.

Application

  Large enterprises
  Small and medium enterprises


Service Type

  Break-fix maintenance
  Preventive maintenance
  Predictive maintenance
  Proactive maintenance
  Managed services


End-user

  IT and telecom
  Financial services
  Healthcare
  Government
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    The Netherlands
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

.

By Application Insights

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

The market is witnessing significant growth due to the increasing demand for operational efficiency, cost reduction, and compliance standards in various industries, including manufacturing, logistics, and banking and finance. Large enterprises are the dominant segment of this market, as they require smooth workflow for their data centers and networks to support their d

Nearly half of the surveyed Canadian homeowners planned to spend up to 10,000 Canadian dollars on home renovations in 2021. Nearly a quarter of homeowners had more expensive plans, with anticipated spending of up to 25,000 Canadian dollars. The most popular area to renovate was the outdoor space.

Canadian Tire, a retail company headquartered in Toronto, operated 371 SportChek stores in Canada as of the fourth quarter of 2024. The company also accounted for some 380 Mark’s (clothing and footwear) locations that year. Home improvement retailers in Canada Besides Canadian Tire, there are several large home improvement retailers located in Canada, one example being, The Home Depot, which is one of the country's most favorite and most successful DIY chains. Other big names include the likes of Home Hardware Stores and Lowe's. It was estimated that total sales in the Canadian home improvement industry amounted to over 58 billion Canadian dollars in 2023. Canadian Tire Corporation, Limited Not only is the Canadian Tire Corporation a home improvement retailer, the company also sells products ranging from toys, food, automotive and recreational wares. Canadian Tire generated over 16.4 billion Canadian dollars in revenue in 2023.

This statistic shows the most popular kitchen cabinet colors among homeowners in Canada as of February 2015. During the survey, 51 percent of the respondents said they chose or would choose white as a color for their kitchen cabinets.

The average revenue per capita in the diy & hardware store market in Canada was forecast to continuously increase between 2025 and 2029 by in total 99.6 U.S. dollars (+8.67 percent). After the seventh consecutive increasing year, the average revenue per capita is estimated to reach 1,248.73 U.S. dollars and therefore a new peak in 2029. Find more key insights for the average revenue per capita in countries and regions like the revenue in the diy & hardware store market in Nicaragua and the revenue in the 'Heating & Cooling' segment of the diy & hardware store market in the world. The Statista Market Insights cover a broad range of additional markets.