Home Improvement Market is to grow at 4.4 % CAGR, with the United States leading the market through 2032

Home Improvement Market to Hit USD 12.77 Bn by 2032

The Home Improvement Market was USD 9.05 Bn in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 4.4 % from 2025 to 2032, reaching USD 12.77 Bn by 2032. According to the United Nations Development Program, by 2050, almost two-thirds of the world's population is predicted to reside in urban areas. Homeowners are choosing to rebuild and renovate instead of building new houses as the cost of new construction increases and land becomes more limited. In Urban areas, this trend is very strong. This includes areas that support both physical and emotional well-being, enhanced lighting, and better air quality. In the United States, according to the Home Improvement Research Institute (HIRI), overall sales will drop by 0.1% in 2024 to $545 billion.

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Home Improvement Market Segmentation

By Project: The DIY Market segment was valued at approximately $200-230 billion in recent years. In the United States, between 40 and 45 percent of all home renovation expenditures were spent on do-it-yourself projects. The DIFM Market is the larger segment and makes up between 55 and 60 percent of the US home improvement market. In 2023, the DIFM segment was estimated to be worth between $310 and 330 billion.

By Application: Online Marketing segment dominates the home improvement market because research and purchase choices are increasingly being made through digital platforms. In the home renovation sector, offline marketing is still crucial, as consumers avoid physically visiting the store. Despite the growth of e-commerce, offline channels still account for around 50% of home renovation sales.

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Home Improvement Market Regional Analysis

Canada, the home renovation industry in Canada was estimated to be worth between CAD 50 and CAD 55 billion in 2023. The Home Improvement Market is anticipated to reach a total value of over CAD 60 billion by 2025, growing at a pace of around 2-3% each year.

France, The French home renovation industry was estimated to be worth between €28 billion and €30 billion in 2023. Over the next years, the market is predicted to increase at an annual pace of two to four percent, with the potential to reach around €35 billion by 2030. Government programs such as MaPrimeRénov encourage homes to upgrade their insulation and heating systems in France.

China, The Chinese home improvement market was estimated to be worth CNY 1.6 trillion (about USD 230 billion) in 2023. By 2030, the market is projected to exceed CNY 2.3 trillion. Chinese e-commerce sites like Taobao, JD.com, and Pinduoduo have witnessed a notable surge in sales of DIY equipment and home repair supplies.

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Home Improvement Market Competitive Landscape

Home Depot (US & Global): Home Depot acquired Interline Brand for $1.625 billion. Home Depot acquired HD supply and decided to sell as a strategy and again repurchased HD supply for $8 billion in 2020.

ManoMano: In 2022, ManoMano acquired The Home and Garden Marketplace. In ManoMano acquired D&L a well-known French seller of do-it-yourself and home renovation supplies.

Taobao/Tmall: The acquisition of Lazada was completed by Taobao/Tmall for $1 billion with an eventual increase in ownership to 83% by 2023. Taobao/Tmall also acquired Youku Tudou for approximately $4.6 billion.

Conclusion

Businesses now have the chance to capitalize on new consumer trends and meet the growing need for smarter, greener living spaces thanks to the growth of smart homes, energy efficiency, and eco-friendly solutions.
The market for home renovation offers a wealth of chances for expansion and innovation, propelled by shifting social dynamics, technological integration, and changing customer demands.

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