Do-It-Yourself (DIY) Home Improvement Retailing Market Expected to Witness a Sustainable Growth over 2027

A latest report by Research Dive divulges the viewpoint of the global Do-It-Yourself (DIY) home improvement retailing market. As per the report, the market is expected to surpass $7,84,024.6 million by 2027, growing at a CAGR of 3.2% from 2019 to 2027. This report provides comprehensive insights into the present situation and future outlook of the market. The report is a beneficial research study, providing reliable market forecasts and insights for stakeholders, new entrants, investors, prevalent market players, shareholders, and many others.

Factors Impacting the Market Growth:

Growing popularity for DIY projects as well as rising disposable income of people across the globe are thrusting the growth of the global DIY home improvement retailing market. Furthermore, surging focus of people on zero-waste DIY projects to create an eco-friendly home is likely to reveal rewarding opportunities for the market growth in the forecast period. However, lack of proficiency and knowledgeable experts in this industry is likely to obstruct the market growth.

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COVID-19 Impact on the Market Growth:

The outbreak of COVID-19 pandemic has a made a positive impact on the growth of the global DIY home improvement retailing market. Growing people’s desire to refurbish their homes with DIY projects, rising interest in gardening practices to enhance living spaces, and rising activities by key DIY home improvement retailers to boost their sales are fueling the market growth. For instance, Home Depot, the largest home improvement retailer in the United States, supplying tools, construction products, and services, has reported a 24% spike from 2019 as people spruced up their homes during the COVID-19 lockdown condition.

The report segments the global DIY home improvement retailing sector into type, distribution channel, and region.

Painting Sub-segment to Show Highest Growth in the Forecast Period

Among type segment, the painting sub-segment is expected to observe highest growth by gathering a revenue of $1,43,625.5 million by 2027. This is mainly due to the rising accessibility of a variety of DIY paint products such as self-painting kit, crackle effect spray, and frost effect spray, terrace wall proofing, and many others.

Online Sub-segment to Dominate the Market Growth in the Forecast Period

Among distribution channel segment, the online sub-segment is predictable to experience highest growth by collecting a revenue of $60,624.2 million by 2027. This is mainly due to the rising availability of a wide range of DIY products on the online platforms.

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Asia-Pacific Region to Expose Rewarding Growth Opportunities in the Forecast Period

The report evaluates the global DIY home improvement retailing industry across several regions including Asia Pacific, Europe, North America, and LAMEA. Among these, the Asia-Pacific region is anticipated to observe significant growth by gathering $85,145.1 million by 2027. This is mainly owing to the rising availability of innovative DIY home improvement products as well as technological developments in such products in the Asia-Pacific region.

Major Players in the Market:

The report lists some of the top players in the global DIY home improvement retailing industry including -

Amazon.com, Inc.
Travis Perkins
Lowe's Companies, Inc.
flipkart.com
Kesko Corporation
Walmart Inc.
UBUY Inc.
Toolstation
UBYLD RETAIL PRIVATE LIMITED
Home Depot Product Authority, LLC
The report provides several industry-top tactics and approaches like effective strategic moves & developments, product/service line, business performance, Porter’s five forces analysis, and SWOT analysis of the leading players, active in the global industry. For instance, the DIY Week Awards – a foremost scheme for the detection of excellence from across the DIY, home improvement, and garden sectors, organized by DIY Week publisher Datateam Business Media has opened entries for 2021.

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This release was published on openPR.