Home Improvement

While other industries grappled with the impact of COVID-19 on the economy, the home improvement business is booming. In fact, the home improvement industry today is stronger than it has been in over ten years. The industry 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. Homeowners in western society place a high value on making their homes more attractive and functional. Self-expression and individuality are increasingly reflected in our physical environments, and cookie-cutter homes are very much out of style.

U.S. Market Leader
The Home Depot
U.S. Home Improvement Market Size
457bn USD
Most common home improvement project during COVID-19
Garden landscaping

Market Size

Home improvement industry is stronger than ever
Home improvement market size in the United States from 2008 to 2024 (in billion U.S. dollars)
Further details: Visit original statistic

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 500 billion dollars by 2025, which is nearly double the value reached in 2009. Similarly, annual growth for this industry can be observed in Mexico, France, Germany, and many other countries.

Home improvement
DIY & home improvement in Europe
DIY & home improvement in Canada

Market segments

The future of Christmas trees is plastic
Christmas trees sold in the United States from 2004 to 2019 (in millions)
Further details: Visit original statistic

Home decoration is a significant part of the home improvement industry, especially towards the end of each year. This is when the Christmas tree finds its way into people’s homes all over the world. The tree was traditionally decorated with edibles such as apples, nuts or dates and was illuminated by candles. Today, a wide variety of traditional ornaments such as garland, tinsel, candy canes, and Christmas lights are used. People now turn more towards plastic trees for different reasons.

U.S. Christmas season
Christmas season in Europe
Holiday season in Canada

Industry trends

Lockdowns inspire DIY projects
Most common home improvement project undertaken during the coronavirus outbreak in the United States in 2020
Further details: Visit original statistic

As COVID-19 put a strain on the event industry, tourism, and social activities, many homeowners found time to work on DIY and home improvement projects. Research shows that around a quarter of American homeowners engaged in garden landscaping or repainting indoors, while some also invested in high-speed internet and security cameras. Among the chief reasons for commencing these projects in 2020 was “finally having time for it".

Type of home improvement projects done during the pandemic in the U.S.
Reasons for home improvement during the pandemic in the United States
Consumer interest in home improvement goods purchase due to COVID-19 in Poland

Industry leaders

The Home Depot is one of the largest retailers in the U.S.
Leading hardware and home improvement retailers in the United States in 2020, by retail sales (in billion U.S. dollars)
Further details: Visit original statistic

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 is the overall market leader, followed by Kingfisher in the UK.

The Home Depot brand report U.S.
The Home Depot brand report Canada
Lowe's brand report

Industry definition

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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