DIY Home Improvement Market size to grow by USD 99.25 billion from 2022 to 2027, Market is fragmented due to the presence of prominent companies like 3M Co., 84 Lumber Co. & ABC Supply Co. Inc., and many more, Technavio

NEW YORK, March 18, 2024 /PRNewswire/ — The DIY home improvement market is estimated to grow by USD 99.25 billion from 2022 to 2027, growing at a CAGR of 4.74%. The DIY home improvement market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer DIY home improvement market are 3M Co., 84 Lumber Co., ABC Supply Co. Inc., Ace Hardware Corp., Asian Paints Ltd., Crate and Barrel, Floor and Decor Holdings Inc., Groupe Adeo, Harbor Freight Tools, Harvey Building Products, K and M Home Center, Lowes Co. Inc., Masco Corp., Menard Inc., National Home Improvement Inc., Pella Corp., Renovo Home Partners, The Home Depot Inc., True Value Co LLC, and Walmart Inc. 

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• 84 Lumber Co – The company offers DIY home improvement products such as crown molding, lumber, and composite decks.
• ABC Supply Co. Inc. – The company offers DIY home improvement products such as Steep Slope Roofing, Solar Roofing, and Stucco.
• Ace Hardware Corp. – The company offers DIY home improvement solutions such as painting and remodeling services.

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Impactful driver- Greater emphasis on DIY home improvement projects for personalized interior designing

Key Trend – Uptake of AR applications for home improvement projects

Major Challenges – Intense market competition

 Market Segmentation

• By Product, the lumber and landscape management segment is significant during the forecast period. Cuttings of trees to smaller wood logs are used, especially for several creative uses, especially in windows, fences, and passageways. Thus, the lumber and landscape segment in the US – Do-It-Yourself (DIY) home improvement market in the US is expected to grow significantly during the forecast period, owing to its diversified nature and associated landscaping use. This segment owes several opportunities for the DIY home improvement market, where the increasing adoption of wooden furnishings, lawn management, and gardening are expected to propel the growth of the DIY home improvement market in the US during the forecast period. A few categories where the application related to the DIY home improvement market is high are as follows: Cutting trees and reducing them to small wood logs for several uses in a creative manner, especially in windows, fences, and walkways; Installing and fitting doors, windows, and ventilators ready to be assembled.

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Analyst Review

The US Do-It-Yourself (DIY) Home Improvement Market is a bustling arena where consumers, driven by hectic lifestyles and the popularity of DIY projects, seek innovative technologies and low-cost pick-up and delivery options to tackle home remodeling tasks. With the convenience of e-commerce platforms and online stores like Walmart’s online revenues soaring, consumers have easy access to a plethora of tools, hardware, and building materials necessary for their projects.

Major competitors in this market vie for market share through strategic investments, geographical expansions, and growth strategies tailored to capitalize on market drivers such as urbanization and the increasing popularity of home remodeling TV shows. However, market restraints like hazardous chemicals and environmental pollution demand attention from stakeholders, prompting a shift towards eco-friendly and zero-waste lifestyle solutions.

Consumers, fueled by the desire for décor and indoor garden enhancements, turn to DIY projects as a means to personalize their living spaces. The DIY home improvement retailing market in the US caters to this demand, offering a wide array of products ranging from flooring repair and replacement materials to plumbing equipment and electrical work materials.

Amidst the challenges posed by the COVID-19 lockdown, online distribution channels have gained prominence, enabling consumers to continue their home improvement endeavors while adhering to safety protocols. Offline retail suppliers also play a crucial role, offering a hands-on shopping experience for those who prefer physical interactions.

Market research indicates a promising market forecast for the DIY home improvement sector in North America, with ample market opportunities for retailers to capitalize on. However, concerns regarding plastic waste and the usage of hazardous chemicals necessitate a shift towards sustainable practices and the promotion of eco-friendly alternatives.

As consumers embark on home purchases and remodeling endeavors, they seek guidance from UN studies and professional advice to ensure their projects are executed efficiently. With a focus on DIY, consumers can save both time and money while indulging their creative instincts.

In conclusion, the US DIY home improvement market thrives on consumer enthusiasm, technological advancements, and a commitment to sustainability. By embracing innovation and catering to evolving consumer needs, retailers can carve out a significant presence in this dynamic and ever-expanding market.

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Market Overview

The US Do-It-Yourself (DIY) Home Improvement Market is thriving amidst a plethora of competitors in building materials. Consumers seek solutions for décor and indoor garden projects, often turning to DIY for cost-effective options. E-commerce platforms offer convenience, enabling easy access to electrical work materials and flooring repair supplies. Environmental concerns drive demand for sustainable options, influencing purchasing decisions. As DIY gains popularity, geographical expansions become pivotal for companies to capture emerging markets. However, challenges persist, including pollution from manufacturing processes. Despite this, the market continues to grow, fueled by a desire for personalized home solutions and the satisfaction of completing DIY projects.

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Related Reports:
The do-it-yourself (DIY) home improvement retailing market in Europe is estimated to grow at a CAGR of 3.88% between 2022 and 2027. The size of the market is forecast to increase by USD 40.29 billion. The growth of the market depends on several factors, including rising interest in DIY home improvement projects, smart home technology, and the growth of the residential real estate industry. 

The do-it-yourself home improvement retailing market size is estimated to grow at a CAGR of 4.41% between 2022 and 2027. The size of the market is forecast to increase by USD 186.33 million.

TOC:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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