The home improvement industry has reached excellent growth results in recent years. It encompasses the sale of building materials, appliances, décor, and other home enhancements, along with the services offered by contractors, tradespeople, and other workers who help to build, install, modify, and upgrade homes.
The business of homeownership represents a significant portion of the world economy, with many consumers worldwide wishing to make their homes more attractive and functional. In recent years, they also opt to make their homes smarter by introducing integrated and interconnected devices that automate various functions around the home.
Home improvement market size in the United States from 2008 to 2027 (in billion U.S. dollars)
Further details: Visit original statistic Home improvement market size in the United States from 2008 to 2027 (in billion U.S. dollars)
The home improvement industry has been increasing annually in most parts of the world. In the United States, the market value is forecast to exceed 600 billion dollars by 2027, which is more than double the value reached in 2008. Similarly, annual growth for this industry can be observed in Mexico, France, Germany, and many other countries.
Home improvement in the U.S.Frequency of renovations among homeowners who renovated in the United States from 2015 to 2023
Further details: Visit original statistic Frequency of renovations among homeowners who renovated in the United States from 2015 to 2023
DIY projects are a great part of the home improvement market. Bricolage and house decorating are among the most beloved DIY activities among consumers. In the United States, interior room remodels have been the most frequent DIY project for the ninth year in a row. Other popular projects are home exterior upgrades and home system upgrades.
Home improvement product popularity in the U.S.Ownership rate of small and big smart appliances in selected countries in 2023
Further details: Visit original statistic Ownership rate of small and big smart appliances in selected countries in 2023
Smart homes have been rapidly gaining traction the past few years. The introduction of technology to home improvement has been proven to be beneficial to homeowners as their living spaces become more secure, entertaining, and energy-efficient. China, India, and South Korea are amongst the countries with the highest ownership rates of smart technology, both large (e.g. refrigerators, washing machines) and small (e.g. coffee machines, microwaves).
Smart homesLeading hardware and home improvement retailers in the United States in 2022, by retail sales (in billion U.S. dollars)
Further details: Visit original statistic Leading hardware and home improvement retailers in the United States in 2022, by retail sales (in billion U.S. dollars)
The Home Depot has been a household name in the American home improvement landscape for decades. As one of the major retailers in the U.S., the DIY chain has been leading the home improvement market for years. Major competitors include Lowe’s, Ace Hardware, and Menards. In Europe, the French DIY chain Groupe Adeo and the British group Kingfisher are the market leaders.
The Home Depot
The home improvement category offers insights into home improvement projects undertaken by homeowners around the world. This includes garden work, Do-It-Yourself projects, home decoration, and any other indoor or outdoor alterations. Whilst focusing mainly on consumer behavior, Statista also offers data on retailers and manufacturers of home decoration, tools, and garden equipment. This extensive dataset is complemented by relevant topic pages, dossiers, and various industry and brand reports.
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