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Transforming Living Spaces: Global Home Improvement Market Set to Reach USD 1200 Billion by 2035
Home Improvement Market
According to MRFR Analysis, The Global Home Improvement Market is expected to reach 1,200 USD billion by 2035, with a compound annual growth rate (CAGR) of 2.71% from 2025 to 2035. In 2023, the market was valued at 870.28 USD billion. Growing demand for house renovations, especially from Gen Z and millennials who value sustainability and uniqueness, is driving the industry. While smart home technology is becoming more popular among consumers looking for ease and energy efficiency, the growth of remote work has also resulted in investments in home offices.
A Flourishing Market Built on Innovation and Need
The steady rise of the home improvement industry is a result of several interlocking trends: increased disposable incomes, evolving home aesthetics, a rise in DIY culture, and growing urbanization. COVID-19 served as a catalyst, pushing people to reimagine their homes as multi-functional spaces for work, leisure, fitness, and family life. This shift has had a lasting impact, driving continuous investment in property upgrades and remodeling.
Obtain a Sample File Containing Insights from The Home Improvement Market https://www.marketresearchfuture.com/sample_request/20673
Product Type Insights: Kitchens, Bathrooms, and Beyond
The market is segmented into five key product types:
• Kitchen Fixtures: One of the top-performing segments, driven by the popularity of open-concept kitchens, smart appliances, and modular storage solutions.
• Bathroom Fixtures: Homeowners are prioritizing luxury and wellness, installing rain showers, freestanding tubs, and eco-friendly fittings.
• Flooring: Durable, easy-to-maintain materials like luxury vinyl tiles, laminates, and engineered wood are in high demand.
• Paints and Coatings: Non-toxic, low-VOC paints are gaining popularity as awareness around indoor air quality increases.
• Home Décor: This broad category spans furniture, lighting, textiles, and wall art, allowing homeowners to express personal style.
Each of these segments is undergoing rapid innovation, helping drive sales across both mature and emerging markets.
Application Areas: Remodeling Takes the Lead
When broken down by application, remodeling holds the lion's share of the market. Many homeowners are choosing to upgrade rather than relocate due to high real estate prices and interest rates. In addition:
• Repair and Maintenance: Regular upkeep and minor renovations are boosting demand for quality materials and reliable service providers.
• New Construction: Particularly strong in emerging economies, new construction is also fueling demand for high-quality, customizable fixtures and finishes.
Distribution Channels: Online Shopping Gains Ground
While retail stores and wholesale outlets still dominate, the online channel is growing rapidly. Digital platforms offer wider product variety, price comparison, easy home delivery, and convenient installation services-all of which appeal to today's busy, tech-savvy consumers.
Direct sales also hold significance, especially for niche, high-end, or custom home improvement solutions that require personalized consultation and service.
End Users: Homeowners Drive Demand
The end-user segmentation includes:
• Homeowners: This group remains the primary driver of the market, as more people invest in upgrading their personal living spaces.
• Contractors: Trusted for executing renovations, contractors often purchase in bulk and opt for high-performance materials.
• Real Estate Developers: With increasing focus on sustainable and high-value properties, developers play a crucial role in shaping demand.
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Regional Breakdown: North America Leads, Asia-Pacific Surges
• North America dominates the market due to high renovation frequency, DIY culture, and advanced construction technology.
• Europe follows closely with an emphasis on sustainable design, energy efficiency, and historic home restoration.
• Asia-Pacific is witnessing the fastest growth, fueled by urban expansion, government infrastructure spending, and a growing middle class.
• South America, Middle East, and Africa are also emerging as lucrative markets as investment in housing and infrastructure expands.
Key Companies in the Home Improvement Market Include
• Amazon
• Home Depot
• Kingfisher
• Travis Perkins
• Screwfix
• Menards
• RONA
• The Home Depot Canada
• Bunnings Warehouse
• IKEA
• B and Q
• Ace Hardware
• Lowe's
• Wolseley
• Wayfair
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