The do-it-yourself (DIY) home improvement retailing market has shown strong growth, increasing from $807.6 billion in 2023 to $863.57 billion in 2024, reflecting a CAGR of 6.9%. This growth is driven by the rising popularity of DIY projects and lifestyle changes. The market is expected to reach $1,134.75 billion by 2028 at a CAGR of 7.1%, supported by the expansion of online sales channels and innovations in smart home technology. Major trends include the focus on sustainability and personalized interior design solutions.
Major Driver In The Do It Yourself Home Improvement Retailing Market
The growth of e-commerce is set to enhance the do-it-yourself home improvement retailing market. With the rise of online shopping, consumers are enjoying greater access to a wide range of DIY products and resources. E-commerce not only facilitates convenient purchasing but also provides tutorials and support for home renovation projects. The Census Bureau reported U.S. retail e-commerce sales reached $289.2 billion in the first quarter of 2024, a 2.1% increase from the previous quarter. This expansion in e-commerce is driving the growth of the do-it-yourself home improvement retailing market.
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Do It Yourself Home Improvement Retailing Market Competitive Landscape
Amazon.com Inc., The Home Depot Inc., Lowe's Companies Inc., IKEA, Groupe Adeo SA, Wesfarmers Limited, BayWa AG, Tractor Supply Company, Menard Inc., Bunnings Group Limited, OBI Group Holding SE and Co. KGaA, Ace Hardware Corporation, Toolstation Limited, HORNBACH Holding AG and Co. KGaA, Flipkart Private Limited, Home Hardware Stores Ltd., Grafton Group plc, Maxeda DIY Group B.V., Mr D.I.Y. Group, Castorama, Brico BricoPlanit, REWE Group, UBUY Inc., Wickes Group Plc, Praktiker AG
Key Do It Yourself Home Improvement Retailing Market Trend
Companies in the do-it-yourself home improvement retailing sector are adopting technological advancements like augmented reality (AR) to enhance customer engagement. In September 2022, Lowe's Inc. launched an interactive store digital twin using NVIDIA's Omniverse technology. This virtual replica allows associates to optimize store operations and improve customer interactions, creating a more efficient shopping environment.
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Do It Yourself Home Improvement Retailing Market Segmentation
The do-it-yourself home improvement retailing market covered in this report is segmented –
1) By Product: Lumber And Landscape Management, Tools And Hardware, Decor And Indoor Garden, Kitchen, Lighting And Other Products
2) By Application: Residential, Commercial
3) By Distribution: Offline, Online
By Geography:The regions covered in the do-it-yourself home improvement retailing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the do-it-yourself home improvement retailing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Do It Yourself Home Improvement Retailing Global Market Report 2024 furnishes information about the global do it yourself home improvement retailing market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
