US Do-It-Yourself (DIY) Home Improvement Market by Product, Distribution Channel, and Application - Forecast and Analysis - 2024-2028

US Do-It-Yourself (DIY) Home Improvement Market Forecast 2024-2028 

The US Do-It-Yourself (DIY) Home Improvement Market size is forecast to increase by USD 51.76 billion, at a CAGR of 3.66% between 2023 and 2028. 

Several factors are instrumental in driving the growth of the market. Firstly, there is a notable shift towards DIY home improvement projects, especially in personalized interior design, which has become a significant trend influencing consumer behavior. Additionally, the advent of e-commerce has revolutionized the industry, providing customers with convenient access to a wide range of products and services. Key players offering free pickup and delivery options have further enhanced customer experience and satisfaction. Moreover, the increasing popularity and adoption of ready-to-assemble (RTA) furniture in the US reflect changing consumer preferences and lifestyle choices. These combined factors signify a dynamic market landscape characterized by innovation, convenience, and evolving consumer trends, shaping the future of the industry. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

The market is driven by trends like Consumers' increasing interest in DIY Projects and the convenience of E-commerce platforms and Online Stores. Innovative Technologies and Low-Cost Pick-Up and Delivery options are also shaping this market. However, challenges such as Environmental Pollution due to Plastic Waste and Hazardous Chemicals pose significant hurdles. Addressing these challenges while capitalizing on the Popularity of DIY Projects and Urbanization trends will be crucial for the future of this market. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Greater emphasis on DIY home improvement projects for personalized interior designing is notably driving the market. The demand for DIY home improvement products serves as a pivotal driver for the growth of the Do-It-Yourself (DIY) Home Improvement Retailing Market in the US. This trend is spreading to emerging economies in APAC and MEA, where rising dual-income households have bolstered purchasing power. Young consumers, attracted by this trend, are increasingly opting for DIY home improvement projects.

Moreover, this shift in consumer behavior aligns with findings from a UN (United Nations) Study highlighting the benefits of DIY practices in mitigating environmental pollution and promoting innovative technologies in areas such as Building Materials, Décor & Indoor Garden, Electrical Work Materials, Flooring Repair & Replacement Materials, and Plumbing Materials & Equipment. The popularity of DIY projects is further accentuated by the convenience of E-commerce and Low-Cost Pick-Up and Delivery options offered by Retail Suppliers and Online Stores. Hence, such factors are driving the market growth during the forecasting period.

Significant Market Trends

The adoption of AR in home improvement projects is an emerging trend in the market. Advancements in technology have expanded to DIY home improvement projects as well. In addition, the new web-enabled handheld devices such as mobile phones and tablets allow mobile checkout and offer a service tool to locate products, check inventory, and explain mobile features.

Moreover, customers can also go online to check ratings and compare prices from a variety of assortments. For example, in February 2022, LOWES COMPANIES INC. launched a new exclusive home decor brand, Origin21, to deliver approachable, modern design for everyday living. In addition, the company also launched a new mobile application that offers an enhanced in-store map and gives access to the live chat feature. Furthermore, the catalog uses AR to give a virtual preview of the different DIY products, such as furniture in a room. Therefore, it is positively impacting the DIY home improvement market in US. Hence, such factors are driving the market during the forecast period.

Major Market Challenge

Product quality and reliability issues with DIY products are a major challenge hindering the market. DIY improvement products are manufactured from subpar materials, resulting in premature wear and tear, reduced durability, and compromised performance. For instance, inexpensive paints or adhesives may not provide adequate coverage or adhesion, resulting in unsatisfactory results.

Moreover, DIY products with manufacturing defects or poor craftsmanship may not function as intended, leading to frustration and disappointment for consumers. In addition, this is particularly common with tools and equipment that undergo heavy use or require precise functionality. Furthermore, DIY improvement lacks uniform standards for product quality and performance, making it difficult for consumers to assess the reliability of products. Therefore, it is negatively impacting the DIY home improvement market in US. Hence, such factors are hindering the market during the forecast period.

Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

3M Co: The company offers do it yourself home improvement solutions such as 3M saftey products, 3M hole repair products, 3M LeadCheck swabs and Command hanging solutions.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Ace Hardware Corp.
• Benjamin Moore and Co.
• Fortune Brands Innovations Inc.
• Klein Tools Inc.
• Kreg Tool Co.
• LOWES COMPANIES INC.
• Masco Corp.
• Menard Inc.
• Owens Corning
• Pella Corp.
• Positec Tool Corp.
• Robert Bosch GmbH
• Rust Oleum Corp.
• Stanley Black and Decker Inc.
• The Home Depot Inc.
• The Sherwin Williams Co.
• Trex Co. Inc.
• True Value Co LLC
• TTI Consumer Power Tools Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the Market?

The lumber and landscape management segment is estimated to witness significant growth during the forecast period. With more people becoming homeowners, there is an increasing interest in DIY projects to personalize and improve their living spaces. In addition, lumber and landscape projects allow homeowners to enhance their outdoor areas and add value to their properties.  Furthermore, many people are discovering the joys of gardening and landscaping, whether it is growing vegetables, cultivating flowers, or creating ornamental gardens.

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The lumber and landscape management segment was the largest segment and valued at USD 55.74 billion in 2017Moreover, DIY landscape projects such as garden beds, pathways, and water features appeal to gardening enthusiasts looking to beautify their outdoor spaces. In addition, lumber and landscape projects often involve using sustainable materials and practices, which appeal to environmentally conscious consumers. Furthermore, using responsibly sourced lumber, recycled materials, and eco-friendly landscaping techniques allows homeowners to reduce their environmental footprint while improving their outdoor spaces. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

Segment Overview

The market report forecasts market growth by revenue and provides market trends and analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Product Outlook 
  • Lumber and landscape management
  • Tools and hardware
  • Decor and indoor garden
  • Kitchen
  • Lighting and others
• Distribution Channel Outlook
  • Offline
  • Online
• Application Channel Outlook
  • Residential
  • Commercial

Market Analyst Overview

The market is a dynamic sector influenced by various factors such as Building Materials, Décor & Indoor Garden trends, and Electrical Work Materials. Geographical Expansions and Global Market dynamics have also shaped this industry, with Growth Strategies driving innovation and market reach. Environmental Pollution concerns have led to a focus on Innovative Technologies and Zero-Waste Lifestyle solutions in DIY projects. The Popularity of DIY Projects has surged, driven by Hectic Lifestyles and Urbanization trends. Online Stores and Low-Cost Pick-Up and Delivery options offered by Retail Suppliers like Walmart's Online Revenues have transformed the shopping experience.

However, challenges such as Plastic Waste and Hazardous Chemicals in Building Materials highlight Market Restraints that stakeholders must address. Strategic Investments in Plumbing Materials & Equipment, Tools & Hardware, and Wallpaper & Supplies are key for market players to capitalize on Market Opportunities. Market Drivers like Home Purchases and the influence of Home Remodeling TV Shows have expanded the consumer base. Despite disruptions like Lockdowns and WWII, the DIY home improvement market remains resilient, driven by consumer demand, innovative solutions, and strategic industry partnerships.

Moreover, the market is a thriving sector that spans regions like North America, Europe, India, and LAMEA (Latin America and the Middle East/Africa). This market attracts both Professional contractors and DIY enthusiasts looking for Flooring Repair & Replacement Materials, Painting supplies, and Plastic Substances for various projects. Toolstation and other retailers provide a wide range of products to cater to this growing demand. Market Opportunity in this sector is substantial, driven by consumers' desire to save Time and Money by undertaking home improvement tasks themselves.

Market Scope
Report Coverage	Details
Page number	151
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 3.66%
Market Growth 2024-2028	USD 51.76 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	3.5
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	3M Co., Ace Hardware Corp., Benjamin Moore and Co., Fortune Brands Innovations Inc., Klein Tools Inc., Kreg Tool Co., LOWES COMPANIES INC., Masco Corp., Menard Inc., Owens Corning, Pella Corp., Positec Tool Corp., Robert Bosch GmbH, Rust Oleum Corp., Stanley Black and Decker Inc., The Home Depot Inc., The Sherwin Williams Co., Trex Co. Inc., True Value Co LLC, and TTI Consumer Power Tools Inc.
Market dynamics	Parent market analysis, Market growth and forecasting inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the  Do-It-Yourself (DIY) home improvement market in US growth and forecasting between 2023 and 2028
• Precise estimation of the market  size and its contribution to the  Do-It-Yourself (DIY) home improvement market in US on the parent market
• Accurate predictions about upcoming market growth trends and changes in consumer behavior
• Growth of the market across US
• Thorough market growth and trends analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report analysis of factors that will challenge the growth of market companies

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