Ferguson Enterprises | Home Improvement Market 2019 By Top Players - Andersen Corporation, Ferguson Enterprises, Kohler Co., Pella Corporation, The Home Depot, JELD-WEN, Inc., Lutron Electronics, ABC Supply Co. Inc., Masco Corporation
DIY segment dominated the home improvement market and accounted for over 50% of the overall demand in 2018. Aspects such as increasing count of DIY stores along with easy availability of DIY equipment?s, appliances and tool over the online platform will contribute towards the growth of segment, thereby fueling the product demand.
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Increasing spending on home improvement projects owing to inclination towards installation of modern household products having attractive and appealing finishing is expected to further support the business growth. Factors such as decreased willingness of the young generation consumers coupled with aging population across the developed market in both North America and Europe will fuel the product demand across the DIFM segment.
Rapid rise in the urbanization rate coupled with increase in the penetration on ecommerce channels offering huge discounts for attracting the millennials will contribute significantly towards the market expansion up to 2025. Increasing occurrences of natural disasters along with drastic changes in the temperature is expected to increase the product adoption rate across the polar and subtropical regions. Rapid technological advancements in the home improvement market has pushed the manufacturers towards development of highly innovative products by utilizing smart automation system.
Home Improvement Market By Project
Home Improvement Market Share, By End-Use
• Kitchen Improvement & Additions
• Bath Improvement & Additions
• System Upgrades
• Exterior Replacements
• Interior Replacements
• Property Improvements
• Disaster Repairs
• Other Room Additions & Alteration
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Kitchen improvement & additions is expected to register CAGR of over 6% up to 2025. Rise in the number of residential remodeling and replacement projects across both developed and emerging countries coupled with growing demand for quartz countertops, cabinets having streamlined textures, designs having an effective storage solution cabinetry will drive the segment growth. Over the past few years there has been rapid rise in the demand for small efficient kitchen appliances such as 60-inch fridge, 18-inch dishwasher, combo microwave/convection oven and touch-activated faucets.
home improvement market players are Anderson Corporation, The Home Depot, Pella Corporation, Henkel Corporation, Steves and Sons, Inc., Kingfisher plc and AARP American Exteriors, LLC. Mergers, capacity expansions, acquisitions, product innovations and joint ventures are few key strategies adopted by the vendors for expanding and building their business. For instance, in May 2018, Anderson Corporation announced to expand its window extrusion factory in the U.S. by 60,000 square feet with an investment worth USD 40 million to cater the growing demand for its product from the North American region.
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