Dublin, March 18, 2022 (GLOBE NEWSWIRE) — “United States Home Improvement Market, By Product (Building & Remodeling, Home Decor, Outdoor Living & Tools & Hardware), By Project (DIFM & DIY), By Procurement, By Region, By Top 10 Leading States , Competition Forecast and Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offer.
The US home improvement market is valued at USD 419.80 billion in 2020 and is expected to grow at a CAGR of 4.47% during the forecast period 2022-2026 to reach a market value of USD 537.47 billion by 2026.
The growth of the US home improvement market can be attributed to rapidly increasing disposable income among the population and increasing trend towards renovations and decorating the interior and exterior of homes. The recent shift in consumer preference towards energy-efficient and luxurious homes is expected to further drive the growth of the US home improvement market over the next five years.
Progress in the construction industry working towards rehabilitation and renovation of old homes to modernize and increase investment in the sector is also supporting the growth of the market. There has been an increase in home owners’ equity, which has doubled in the past five years, and thus the investment in improving one’s home has also increased, which also underpins the growth in the market.
Rapid urbanization, government initiatives to provide tax credits on green buildings, and growing awareness about green buildings and homes further aid the growth of the US home improvement market in the forecast years up to 2026.
The US home improvement market is segmented by product, project, sourcing, regional distribution, top 10 leading states, and competitive landscape.
Based on project, the market is further divided into DIFM and DIY. The DIFM segment is expected to hold the largest revenue shares in the market and dominate the market segment in the coming five years due to increased labor costs, professional expertise. DIY projects are also expected to register the fastest growth in the next five years due to rapidly growing e-commerce sales channels.
Moreover, DIY is gaining preference among the population due to its advantages such as cost effectiveness, customer satisfaction and personal projects.
The purpose of the study:
- To analyze the historical growth of the market size of the US housing market from 2016 to 2020.
- To estimate and forecast the market size of the United States Home Improvement market from 2021 to 2026 and growth rate until 2026.
- To define, classify and forecast the United States Home Improvement Market on the basis of product, project, sourcing, region, top 10 leading states and company.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of four regions namely – South, West, Midwest and Northeast.
- To examine competitive developments such as expansions, innovative product launches, government policy and investment, and new entrants to the US housing market.
- To strategically profile leading players operating in the US home improvement market.
Company Profiles: Detailed analysis of the major companies present in the US home improvement market.
- The Home Depot USA, Inc.
- Lowe’s Companies, Inc.
- Menard, Inc.
- ACE Hardware Corporation
- True Value Company
- Floor & Decor Holdings, Inc.
- M Company
- Kohler Company
- ABC Supply Co., Inc.
Scope of the report:
Years considered for this report:
- Historical years: 2016-2019
- Base year: 2020
- Estimated year: 2021
- Forecast period: 2022-2026
United States Home Improvement Market, by Product:
- Building and remodeling (building materials, electricity, heating and cooling, plumbing)
- Home furnishings (furnishings, flooring, kitchen and bath, lighting and fans, paint, etc.)
- Outdoor stay (books, cleaning and janitor, garden center, outdoor power equipment)
- Tools and hardware (hand tools, hardware, power tools, safety and security)
United States Home Improvement Market, by Project:
US home improvement market, by purchase:
- Household items
- Franchise stores
- Specialty shops
- Online sales channel
United States Home Improvement Market, by Region:
US home improvement market, by top 10 leading states:
- North Carolina
For more information on this report visit https://www.researchandmarkets.com/r/7ltsq3
US home improvement market