DIY Home Improvement Market in US to record USD 121.47 Bn growth; Driven by growing popularity and adoption of RTA furniture -- Technavio

NEW YORK, Oct. 12, 2022 /PRNewswire/ -- The DIY home improvement market in the US is expected to observe an incremental growth of USD 121.47 billion between 2021 and 2026. However, the growth momentum in the market is expected to decelerate at a CAGR of 6.1% during the forecast period. Technavio has considered various factors including the revenue generated by retailers, GDP growth, urbanization rate, employment rates, population at different income levels, per capita income, disposable income, and commodity price fluctuations among others to estimate the size of the market. The report provides a comprehensive analysis of the current market size, key growth drivers, the latest trends, and factors influencing market growth across various segments. Gain confidence by Downloading Sample PDF Report Now.

Technavio has announced its latest market research report titled DIY Home Improvement Market in US 2022-2026
Technavio has announced its latest market research report titled DIY Home Improvement Market in US 2022-2026

The market is driven by the growing popularity and adoption of RTA furniture in the US. The popularity of innovatively designed ready-to-assemble (RTA) furniture is increasing in the US. The growing trend of customization has compelled key vendors to manufacture custom-designed RTA furniture for personalized interiors. This has enabled them to attract more DIY consumers, which is leading to high sales. They are also providing consumers with a range of options in colors, shades, shapes, and themes. As a result of these factors, the growth of the DIY home improvement market in the US is expected to increase over the forecast period.

In addition, the uptake of AR applications for home improvement projects will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2022-2026. Learn more about the global trends impacting the future of market research. Download A Free Sample Now

DIY Home Improvement Market In The US: Growth Challenge

Intense market competition is one of the major challenges reducing the growth potential in the market. Several major and regional vendors of DIY home improvement products in the US fall under the unorganized part of the market. They compete on various parameters including product portfolio, premiumization, differentiation, and pricing. In addition, the entry of new players and private labels has further increased the competition levels in the market. Moreover, the inability to adapt to the evolving competitive landscape is affecting the profit margins of vendors as well as the demand for their products. Hence, major players are shifting to omni-retail strategies to adapt to the changing competitive landscape. All these factors are expected to hinder the growth of the market during the forecast period.

DIY Home Improvement Market In The US: Segmentation Analysis

This market research report segments the DIY home improvement market in the US by distribution channel (offline and online) and product (lawn and garden, tools and hardware, plumbing, bathroom and kitchens, and others).

By distribution channel, the market observed significant growth in the offline segment in 2021. The segment includes DIY home improvement stores, specialty stores, furniture, and other physical stores. The high penetration of physical stores and an expansive product assortment are the key reasons driving the growth of the segment.

In terms of product, the lawn and garden segment will account for the highest market share during the forecast period. The segment includes entry doors, front doors, interior and closet doors, exterior shutters, and awnings and skylights. The increasing demand for these products is driving the growth of the segment.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Competitive scenario

Related Reports:

DIY Home Improvement Market In The US Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 6.1%

Market growth 2022-2026

USD 121.47 billion

Market structure

Fragmented

YoY growth (%)

6.07

Regional analysis

US

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

84 Lumber Co, ABC Supply Co. Inc., Ace Hardware Corp., Asian Paints Ltd., Dreamstyle Remodeling Inc., Floor and Decor Holdings Inc, Groupe Adeo, Harbor Freight Tools, Harvey Windows Doors, K and M Home Center, Lowes Companies Inc, Masco Corp., Menard Inc., National Home Improvement Inc, Pella Corp., Power Home Remodeling Group, The Home Depot Inc., True Value Co LLC., and Walmart Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product Type

  • 5.1 Market segments

  • 5.2 Comparison by Product Type

  • 5.3 Lawn and Garden - Market size and forecast 2021-2026

  • 5.4 Tools and Hardware - Market size and forecast 2021-2026

  • 5.5 Plumbing - Market size and forecast 2021-2026

  • 5.6 Bathroom and Kitchens - Market size and forecast 2021-2026

  • 5.7 Others - Market size and forecast 2021-2026

  • 5.8 Market opportunity by Product Type

6 Market Segmentation by Distribution Channel

  • 6.1 Market segments

  • 6.2 Comparison by Distribution Channel

  • 6.3 Offline - Market size and forecast 2021-2026

  • 6.4 Oneline - Market size and forecast 2021-2026

  • 6.5 Market opportunity by Distribution Channel

7 Market Segmentation by Retail Channel

  • 7.1 Market segments

  • 7.2 Comparison by Retail Channel

  • 7.3 Home Improvement/DIY Retailers - Market size and forecast 2021-2026

  • 7.4 Hypermarkets and Supermarkets - Market size and forecast 2021-2026

  • 7.5 Hardware Stores - Market size and forecast 2021-2026

  • 7.6 Market opportunity by Retail Channel

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers

  • 9.2 Market challenges

  • 9.3 Impact of drivers and challenges

  • 9.4 Market trends

10 Vendor Landscape

  • 10.1 Overview

  • 10.2 Vendor landscape

  • 10.3 Landscape disruption

  • 10.4 Industry risks

11 Vendor Analysis

  • 11.1 Vendors covered

  • 11.2 Market positioning of vendors

  • 11.3 84 Lumber Co

  • 11.4 ABC Supply Co. Inc.

  • 11.5 Ace Hardware Corp.

  • 11.6 Floor and Decor Holdings Inc

  • 11.7 Groupe Adeo

  • 11.8 Lowes Companies Inc

  • 11.9 Menard Inc.

  • 11.10 The Home Depot Inc.

  • 11.11 True Value Co LLC.

  • 11.12 Walmart Inc.

12 Appendix

  • 12.1 Scope of the report

  • 12.2 Inclusions and exclusions checklist

  • 12.3 Currency conversion rates for US$

  • 12.4 Research methodology

  • 12.5 List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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DIY Home Improvement Market in US 2022-2026
DIY Home Improvement Market in US 2022-2026
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