Oct 30, 2024
DIY home retailing projected for steady growth through 2030
The global Do-it-Yourself (DIY) home improvement retailing market, valued at US$791.3 billion in 2023, is projected to reach US$959.1 billion by 2030, with a compound annual growth rate of 2.8%, according to a new report from ResearchAndMarkets.com.
Several factors are fueling this market growth, including a trend toward homeownership, a desire for personalized living spaces, and rising costs in professional labor. Additionally, popular home improvement shows and online tutorials have encouraged more consumers to undertake DIY projects.
Key findings highlight significant growth in the lumber and landscape management products segment, expected to reach US$225.6 billion by 2030. The report also provides regional insights, noting strong growth prospects in markets like the US, valued at US$215.6 billion in 2023, and China, forecasted to grow at 5.4% CAGR.
The report includes analysis of 86 major players in the industry, such as Ace Hardware, Home Depot, and Lowe’s.
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