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Do-It-Yourself (DIY) Home Improvement Retailing Market Report

RA00157

Do-It-Yourself (DIY) Home Improvement Retailing Market by Types (Building Materials, Décor & Indoor Garden, Lighting, Electrical Work Materials, Tools & Hardware, Painting, Wallpaper & Supplies, Plumbing Materials & Equipment, Flooring Repair & Replacement Materials, and Outdoor), Distribution Channel (Offline and Online), and Regional Analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA00157

Pages: 118

Jan 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Do-It-Yourself (DIY) Home Improvement Retailing Market

The global do-it-yourself (DIY) home improvement retailing market is anticipated to register a revenue of $7,84,024.6 million by 2027, increasing from $6,11,764.7 million in 2019 at a healthy CAGR of 3.2%. Asia-Pacific region for do-it-yourself (DIY) home improvement retailing market is expected to surge at a notable CAGR of 4.1% by generating a revenue of $85,145.1 million by 2027. Rising urbanization among Asia-Pacific countries like China, India, Japan, and Australia is expected to drive the Asia-Pacific market.

Do-It-Yourself (DIY) Home Improvement Retailing Market Analysis:

Do-it-yourself (DIY) is the activity of designing and modifying any particular project yourself. This technique allows customers to develop eye-catching projects without any professional help. It is a comprehensive term that mainly refers to developing or modifying innovative products like shoe holders, letter boards, wall painting, and many others.

Impact Analysis of COVID-19 on the Do-It-Yourself (DIY) Home Improvement Retailing Market: 

The global industry for do-it-yourself (DIY) home improvement retailing has observed a notable growth, during the COVID-19 pandemic. DIYers in developed as well as developing countries are investing time to complete home improvement projects as the majority of the people are under COVID-19 lockdown. Majority of the DIYers are engaged in gardening practices in order to enhance customer’s living space to keep them entertained in the lockdown situation. Such factors are driving the demand for DIY products, amid COVID-19.

Moreover, key players in home improvement including Lowe’s and Home Depot Product Authority, LLC. are increasingly focusing on the adoption of growth strategies like business expansions and strategic investments. For example, in November 2020, Lowe’s, one of the leading companies of home improvement industry, proposed to construct a $61 million project consisting of 1.2 million-square-foot distribution facility in the U.S. Moreover, in December 2020, Home Depot Product Authority, LLC. another notable player in DIY home improvement industry, planned to open two new distribution hubs mainly in New Jersey and Perth Amboy in order to fulfil the increasing demand from DIYers for flexible and sustainable delivery options. Such geographical expansions have accelerated the global market growth amid the COVID-19 outbreak.

Huge popularity for DIY projects along with increasing disposable income is anticipated to boost the global do-it-yourself (DIY) home improvement retailing market

The massive popularity for DIY projects among the people especially among homeowners across the globe is a key element driving the demand for the DIY tools, which may eventually flourish the market during the forecast period. For example, as per survey conducted by ANGI Home services Inc., a lobal leader in home improvement, home services remain a priority among the other services in 2020 as 90% homeowners continue to hire plans in order to attempt DIY projects. Homeowners are showing 54% and 52% interest for the painting and landscaping activities, respectively. The growing urbanization complemented with changing consumer lifestyle are some of the factors that may bolster the market growth of the do-it-yourself (DIY) home improvement retailing industry, during the forecast period.

To know more about do-it-yourself (DIY) home improvement retailing market drivers, get in touch with our analysts here.

Less number of experts in the DIY field is further expected to restrain the growth of do-it-yourself (DIY) home improvement retailing industry

Lack of expertise in DIY businesses is one of the major reasons negatively affecting the global do-it-yourself (DIY) home improvement retailing market. In addition to this, lack of availability of products combined with less awareness regarding the DIY projects in low-income countries will also hamper the global market throughout the forecast period. 

The environmentally friendly DIY projects are projected to create immense opportunities in the global market

In recent years, DIYers are increasingly focusing on zero-waste DIY projects to create eco-friendly homes. In these projects, DIYers develop sustainably and safely made products. In addition to this, customers across the globe are also showing interest for eco-friendly DIY products which are significantly healthier and cost effective. Hence, several innovative players are coming up with attractive ideas to expand their customer reach. For instance, in December 2019, Earthy Good, announced to launch ‘DIY lifestyle kits plastic free’. These kits include natural ingredients and cruelty-free products. Earthy Good is developing and serving eco-friendly DIY products with an aim to become a zero-waste company. Furthermore, recent trends including reusable bags, sustainable cleaning kits, and zero waste gifts are becoming popular across DIYers. These key factors may lead to create favorable conditions for the market during the forecast period. 

To know more about do-it-yourself (DIY) home improvement retailing market opportunities, get in touch with our analysts here.

Do-it-yourself (DIY) Home Improvement Retailing Market, by Types:

The painting sub-segment is expected to register a revenue of $1,43,625.5 million throughout the analysis period

Do-it-yourself (DIY) Home Improvement Retailing Market, by Types
Source: Research Dive Analysis 

The painting sub-segment for do-it-yourself (DIY) home improvement retailing market has the largest share and is expected to generate a revenue of $1,43,625.5 million by 2027, increasing from $1,04,419.4 million in 2019, at a notable CAGR of 4.1%. 

The extensive growth of painting sub-segment is mainly attributed to the availability of wide range of DIY paint products that include self-painting kit, terrace wall proofing, crackle effect spray, and frost effect spray, and many among others. Furthermore, several key players operating in the paint & coating industry such as Asian Paints, Berger Paints India Limited, and others are following key strategies such as product introduction in order to expand in the market. For instance, in August 2020, Asian paints, a Mumbai-based Indian multinational paint company announced to introduce a new DIY spray product called ‘ezyCR8’ that helps customers in to beautifying their home décor without any help of outsourced contractors. The company is highly concerned about the customer’s safety while attempting DIY projects, and hence they have announced the introduction of ezyCR8. Such novel product innovations along with increased disposable income among emerging countries like India, China and Brazil predicted to foster the sub-segment growth, during the analysis period.

However, décor & indoor garden sub segment is also expected to grow at a steady pace with a CAGR of 3.5%, and is expected to generate a revenue of $92,327.8 million by 2027, increasing from $70,187.8 million in 2019. Increasing urbanization along with growing significance of indoor aesthetics is expected to boost the demand for this sub-segment, which may eventually drive the market, during the forecast period. In addition to this, the upsurge in consumer living standards, combined with increasing expenses on high-end interior décor is propelling the market growth. The vast trends of organic food crops cultivation in smart indoor gardens are also bolstering the décor and indoor garden segment.

Do-It-Yourself (DIY) Home Improvement Retailing Market, by Distribution Channel:

The online segment will have a lucrative market growth in the global industry; this is mainly because of the well-integrated online ordering system
Do-It-Yourself (DIY) Home Improvement Retailing Market, by Distribution Channel

Source: Research Dive Analysis

Online sub-segment for global Do-it-yourself (DIY) home improvement retailing market will have exponential market growth and is further expected to generate a revenue of $60,624.2 million in 2027, at a growth rate of 7.1%, during the analysis timeframe. The growth is mainly attributed to the availability of huge DIY resources on various online platforms. Moreover, the presence of giant e-commerce companies including Amazon, Inc., Alibaba Group Holding Ltd., eBay Inc., and Rakuten, Inc. are modifying their strategies into attractive discounts that is creating a positive impact on the segment’s growth. For instance, in August 2020, Amazon, Inc. announced a sale which offered 50% discounts on power & hand tools for home tasks. These products mainly help in completing DIY home tasks.

Furthermore, elimination of human error, safe and comfortable shopping, easy availability of services, and massive penetration of smartphones among the emerging countries including China and India are some of the key factors accelerating the online sub-segment, during the analysis period.

Regional Insights:

Asia-Pacific region will have a substantial market growth, and is anticipated to generate a revenue of $85,145.1 million over the projected period

Regional Insights

Source: Research Dive Analysis

Asia-Pacific region for Do-it-yourself (DIY) home improvement retailing market share is expected to increase at a CAGR of 4.1% by registering a revenue of $85,145.1 million by 2027. Increasing cutting-edge DIY product innovation combined with technological advancement are some of the key elements that will foster the Asian market. In addition to this, rise in urbanization in Asian countries will also accelerate the market. Countries such as China and India are expected to flourish amidst the development of urbanization in the world. For instance, as per study conducted by the UN (United Nations), India comprises of 416 million urban residents and 255 million in China. 

Furthermore, business expansion and private-public strategic alliances will spur the do-it-yourself (DIY) home improving retailing market size in the foreseeable future. Asian DIY players work in the development of search engines such as Pinterest for DIY projects. For instance, in 2019, Pinterest announced about a new office in Singapore and Sydney for strengthening their presence of do-it-yourself (DIY) home improvement projects in APAC region.

The North America region has a largest market and it will reach up to $4,23,138.1 million by the end of 2027

The Do-It-Yourself (DIY) home improvement retailing industry in the North America region owns a significant market share and has generated a revenue of $3,40,569.4 million in 2019 and it is expected to reach up to $4,23,138.1 million by 2027. North America is expected to hold a notable market share in the do-it-yourself (DIY) home improving retailing market owing to various factors such as economic recovery of countries and urbanization. In addition to this, changing lifestyles of buyer is expected to drive the do-it-yourself (DIY) home improving retailing market in North America region. For example, in 2019, according to the data published by U.S. Census Bureau from American Housing Survey, around 73% of homeowners are taking higher interest in DIY home projects for refreshing their lifestyles. Also, according to homeowners, they have information available for home improvement projects and repair to carry out tasks by themselves, and hence they willing adopt DIY tasks. In addition to this, strong presence of retail companies specializing in home improvement such as Lowe's, Menard, Inc, and others and their novel DIY innovations, are further expected to create enormous opportunities for the market, in the North America region.

Competitive Scenario in the Global Do-it-yourself (DIY) Home Improvement Retailing Market:

Mergers & acquisitions, along with advanced product development, are the frequent strategies followed by the leading market players
Competitive Scenario in the Global Do-it-yourself (DIY) Home Improvement Retailing Market

Source: Research Dive Analysis

Some of the leading do-it-yourself (DIY) home improvement retailing market companies include Travis Perkins, Kesko Corporation, Lowe's Companies, Inc., Amazon.com, Inc., Walmart Inc., UBUY Inc., Toolstation, Home Depot Product Authority, LLC, Flipkart.com, UBYLD RETAIL PRIVATE LIMITED. Companies operating in the do-it-yourself (DIY) home improvement retailing market are focusing mainly on innovative product developments and business expansion. These are the most common strategies followed by players.

For instance, in January 2019, Kesko Senukai announced the complete acquisition of the Sørbø retailer group, one of the leading DIY retail businesses operating in Norway. The acquisition is mainly comprised of 2 Byggmakker stores along with B2B logistics center in Norway.

Porter’s Five Forces Analysis for Do-it-yourself (DIY) Home Improvement Retailing market:

  • Bargaining Power of Suppliers: Huge number of active suppliers, moderate size of individual suppliers, and retailers with exclusive features are some of the reasons that are responsible for the low bargaining power of suppliers.
    Hence, the bargaining power of suppliers is LOW.
  • Bargaining Power of Buyer: Low switching costs i.e., ease of choosing other DIY retailers provides bargaining power to buyers. In addition to this, the moderate population of buyers across the globe is one of the major reasons for buyers shifting to other firms. 
    The bargaining power of the buyer is HIGH.
  • Threat of New Entrants: New entrants are likely in the DIY home improvement industry even if there are many major players. Start-ups are using key development strategies namely innovation in the new products & services, effective partnerships. These activities significantly drive the window of profits for the new players.
    Hence, the threat of new entrants is HIGH.
  • Threat of Substitutes: The threat of substitute products is quiet low; this is mainly because substitute product can’t offer a better value proposition.
    The threat of substitutes is LOW.
  • Competitive Rivalry in the Market: Do-it-yourself (DIY) home improvement retailing market has multiple small, medium and large enterprises. These players are coming up with advanced DIY product inventions and development strategies such as capacity expansion and effective alliances.
    The competitive rivalry in the industry is HIGH.   

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast timeline for Market Projection

  2020-2027

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Types

  • Building Materials
  • Décor and Indoor Garden
  • Lighting,
  • Electrical Work Materials,
  • Tools and Hardware,
  • Painting, Wallpaper, and Supplies,
  • Plumbing Materials and Equipment,
  • Flooring Repair and Replacement Materials
  • Outdoor

  Segmentation by Distribution Channel

  • Offline
  • Online

  Key Countries Covered

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Brazil, Saudi Arabia, United Arab Emirates, Rest of LAMEA

  Key Companies Profiled

  • Travis Perkins
  • Kesko corporation
  • Lowe's Companies, Inc.
  • Amazon.com, Inc.
  • Walmart Inc.
  • UBUY Inc.
  • Toolstation
  • Home Depot Product Authority, LLC
  • flipkart.com
  • UBYLD RETAIL PRIVATE LIMITED.

Frequently Asked Questions
 

A. The global Do-it-yourself (DIY) home improvement retailing market size was over $6,11,764.7 million in 2019 and is projected to reach $7,84,024.6 million by 2027.

A. Lowe’s, UBUY CO. and flipkart.com are some of the key players in the global Do-it-yourself (DIY) home improvement retailing Market.

A. Asia-Pacificregion possesses great investment opportunities for the investors to witness the most promising growth in the future.

A. The Asia-Pacific Do-it-yourself (DIY) home improvement retailing market is anticipated to grow at 4.1% CAGR during the forecast period.

A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. Walmart India and Amazon.com, Inccompanies are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By Type Trends
2.3.By Distribution Channel

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape

3.8.Pricing overview

3.8.1.By Types
3.8.2.By Distribution Channel

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis

3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors
3.10.Strategic overview

4.Do-It-Yourself (DIY) Home Improvement Retailing Market, by Types

4.1.Building Materials

4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019 & 2027

4.2.Décor and Indoor Garden

4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019 & 2027

4.3.Lighting

4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019 & 2027

4.4.Electrical Work Materials

4.4.1.Market size and forecast, by region, 2019-2027
4.4.2.Comparative market share analysis, 2019 & 2027

4.5.Tools and Hardware

4.5.1.Market size and forecast, by region, 2019-2027
4.5.2.Comparative market share analysis, 2019 & 2027

4.6.Painting, Wallpaper, and Supplies

4.6.1.Market size and forecast, by region, 2019-2027
4.6.2.Comparative market share analysis, 2019 & 2027

4.7.Plumbing Materials and Equipment

4.7.1.Market size and forecast, by region, 2019-2027
4.7.2.Comparative market share analysis, 2019 & 2027

4.8.Flooring Repair and Replacement Materials

4.8.1.Market size and forecast, by region, 2019-2027
4.8.2.Comparative market share analysis, 2019 & 2027

4.9.Outdoor

4.9.1.Market size and forecast, by region, 2019-2027
4.9.2.Comparative market share analysis, 2019 & 2027

5.Do-It-Yourself (DIY) Home Improvement Retailing Market, by Distribution Channel

5.1.Offline

5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019 & 2027

5.2.Online

5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019 & 2027

6.Do-It-Yourself (DIY) Home Improvement Retailing Market, by region

6.1.North America

6.1.1.Market size and forecast, by types, 2019-2027
6.1.2.Market size and forecast, by distribution channel, 2019-2027
6.1.3.Market size and forecast, by country, 2019-2027
6.1.4.Comparative market share analysis, 2019 & 2027

6.1.5.U.S.

6.1.5.1.Market size and forecast, by types, 2019-2027
6.1.5.2.Market size and forecast, by distribution channel, 2019-2027
6.1.5.3.Comparative market share analysis, 2019 & 2027

6.1.6.Canada

6.1.6.1.Market size and forecast, by types, 2019-2027
6.1.6.2.Market size and forecast, by distribution channel, 2019-2027
6.1.6.3.Comparative market share analysis, 2019 & 2027

6.1.7.Mexico

6.1.7.1.Market size and forecast, by types, 2019-2027
6.1.7.2.Market size and forecast, by distribution channel, 2019-2027
6.1.7.3.Comparative market share analysis, 2019 & 2027

6.2.Europe

6.2.1.Market size and forecast, by types, 2019-2027
6.2.2.Market size and forecast, by distribution channel, 2019-2027
6.2.3.Market size and forecast, by country, 2019-2027
6.2.4.Comparative market share analysis, 2019 & 2027

6.2.5.Germany 

6.2.5.1.Market size and forecast, by types, 2019-2027
6.2.5.2.Market size and forecast, by distribution channel, 2019-2027
6.2.5.3.Comparative market share analysis, 2019 & 2027

6.2.6.UK

6.2.6.1.Market size and forecast, by types, 2019-2027
6.2.6.2.Market size and forecast, by distribution channel, 2019-2027
6.2.6.3.Comparative market share analysis, 2019 & 2027

6.2.7.France

6.2.7.1.Market size and forecast, by types, 2019-2027
6.2.7.2.Market size and forecast, by distribution channel, 2019-2027
6.2.7.3.Comparative market share analysis, 2019 & 2027

6.2.8.Spain

6.2.8.1.Market size and forecast, by types, 2019-2027
6.2.8.2.Market size and forecast, by distribution channel, 2019-2027
6.2.8.3.Comparative market share analysis, 2019 & 2027

6.2.9.Italy 

6.2.9.1.Market size and forecast, by types, 2019-2027
6.2.9.2.Market size and forecast, by distribution channel, 2019-2027
6.2.9.3.Comparative market share analysis, 2019 & 2027

6.2.10.Rest of Europe

6.2.10.1.Market size and forecast, by types, 2019-2027
6.2.10.2.Market size and forecast, by distribution channel, 2019-2027
6.2.10.3.Comparative market share analysis, 2019 & 2027

6.3.Asia Pacific

6.3.1.Market size and forecast, by types, 2019-2027
6.3.2.Market size and forecast, by distribution channel, 2019-2027
6.3.3.Market size and forecast, by country, 2019-2027
6.3.4.Comparative market share analysis, 2019 & 2027

6.3.5.China

6.3.5.1.Market size and forecast, by types, 2019-2027
6.3.5.2.Market size and forecast, by distribution channel, 2019-2027
6.3.5.3.Comparative market share analysis, 2019 & 2027

6.3.6.India 

6.3.6.1.Market size and forecast, by types, 2019-2027
6.3.6.2.Market size and forecast, by distribution channel, 2019-2027
6.3.6.3.Comparative market share analysis, 2019 & 2027

6.3.7.Australia 

6.3.7.1.Market size and forecast, by types, 2019-2027
6.3.7.2.Market size and forecast, by distribution channel, 2019-2027
6.3.7.3.Comparative market share analysis, 2019 & 2027

6.3.8.Rest of Asia Pacific

6.3.8.1.Market size and forecast, by types, 2019-2027
6.3.8.2.Market size and forecast, by distribution channel, 2019-2027
6.3.8.3.Comparative market share analysis, 2019 & 2027

6.4.LAMEA

6.4.1.Market size and forecast, by types, 2019-2027
6.4.2.Market size and forecast, by distribution channel, 2019-2027
6.4.3.Market size and forecast, by country, 2019-2027
6.4.4.Comparative market share analysis, 2019 & 2027

6.4.5.Latin America  

6.4.5.1.Market size and forecast, by types, 2019-2027
6.4.5.2.Market size and forecast, by distribution channel, 2019-2027
6.4.5.3.Comparative market share analysis, 2019 & 2027

6.4.6.Middle East 

6.4.6.1.Market size and forecast, by types, 2019-2027
6.4.6.2.Market size and forecast, by distribution channel, 2019-2027
6.4.6.3.Comparative market share analysis, 2019 & 2027

6.4.7.Africa

6.4.7.1.Market size and forecast, by types, 2019-2027
6.4.7.2.Market size and forecast, by distribution channel, 2019-2027
6.4.7.3.Comparative market share analysis, 2019 & 2027

7.Company profiles

7.1.Travis Perkins

7.1.1.Business overview
7.1.2.Financial performance
7.1.3.Product portfolio
7.1.4.Recent strategic moves & developments
7.1.5.SWOT analysis

7.2.Kesko corporation

7.2.1.Business overview
7.2.2.Financial performance
7.2.3.Product portfolio
7.2.4.Recent strategic moves & developments
7.2.5.SWOT analysis

7.3.Lowe's Companies, Inc.

7.3.1.Business overview
7.3.2.Financial performance
7.3.3.Product portfolio
7.3.4.Recent strategic moves & developments
7.3.5.SWOT analysis

7.4.Amazon.com, Inc.

7.4.1.Business overview
7.4.2.Financial performance
7.4.3.Product portfolio
7.4.4.Recent strategic moves & developments
7.4.5.SWOT analysis

7.5.Walmart Inc.

7.5.1.Business overview
7.5.2.Financial performance
7.5.3.Product portfolio
7.5.4.Recent strategic moves & developments
7.5.5.SWOT analysis

7.6.UBUY Inc.

7.6.1.Business overview
7.6.2.Financial performance
7.6.3.Product portfolio
7.6.4.Recent strategic moves & developments
7.6.5.SWOT analysis

7.7.Toolstation

7.7.1.Business overview
7.7.2.Financial performance
7.7.3.Product portfolio
7.7.4.Recent strategic moves & developments
7.7.5.SWOT analysis

7.8.Home Depot Product Authority, LLC

7.8.1.Business overview
7.8.2.Financial performance
7.8.3.Product portfolio
7.8.4.Recent strategic moves & developments
7.8.5.SWOT analysis

7.9.flipkart.com

7.9.1.Business overview
7.9.2.Financial performance
7.9.3.Product portfolio
7.9.4.Recent strategic moves & developments
7.9.5.SWOT analysis

7.10.UBYLD RETAIL PRIVATE LIMITED.

7.10.1.Business overview
7.10.2.Financial performance
7.10.3.Product portfolio
7.10.4.Recent strategic moves & developments
7.10.5.SWOT analysis


 

A creative mind is always on high alert for trying out and experimenting with home goods. An imaginative mind can easily come up with awesome do-it-yourself hacks that can convert a boring house into a lively one. Do-it-yourself (DIY) projects aims at creating items according to your taste and mold it to your heart’s content. DIY mostly falls in the category of home crafts and has existed since the 18th and 19th centuries, where women carried out most of the DIY projects. Some of the common examples of DIY projects are bird feeder wreath, yarn-wrapped painted jars, candles, leafy stepping stones, holder planter, and much more.

Forecast Analysis of Do-it-Yourself (DIY) Home Improvement Retailing Market

DIY projects are gaining enormous popularity amongst the people, especially the homeowners worldwide and this is one of the significant aspect that is estimated to bolster the do-it-yourself (DIY) home improvement retailing market in the coming years. According to a survey conducted by Pollfish in May 2020, around 92% of the US homeowners are likely to hire pros such as plumbers or electricians for home improvements. Furthermore, the survey indicates that 52% prefer landscaping and 54% favor painting as DIY projects. Apart from this, escalation of urbanization along with lifestyle changes is also predicted to uplift the global market in the forthcoming years. As per a report by Research Dive, the global do-it-yourself (DIY) home improvement retailing market is expected to generate a notable revenue of $7,84,024.6 million by the end of 2027.  

However, lack of skills and expertise in DIY business along with awareness gap regarding DIY projects in the low-income countries is estimated to hinder the market growth in the upcoming years. Whereas, growing environmental awareness is shifting the focus on creating zero-waste DIY projects. Eco-friendly DIY items are cost-effective, attractive, and sustainable to the environment. For instance, preparing a lamp out of tin cans or making plastic bag bowls are some of the effective ways to recycle waste and reuse it in an innovative way. These factors are likely to generate tremendous opportunities in the market in the upcoming years. Beyond this, geographically, the Asia-Pacific region is projected to be the fastest growing region for the global market due to rise in technical innovations in the area.

Latest Developments in Do-it-Yourself (DIY) Home Improvement Retailing Market

The leading players of the global do-it-yourself (DIY) home improvement retailing market are basically opting for unique strategies such as mergers & acquisitions, new product revelations, product portfolios, and investments in research & development projects. These strategies are helping the companies in gaining an edge in the global market. For instance, in September 2020, Mr. DIY store, which is one of the largest home improvement retailers in Malaysia, has opened in Mumbai and Pune, India for the first time.

Furthermore, in June 2020, Lowe, a retail company, has introduced a virtual method to offer the services of electricians, plumbers, and other contractors to the people during the Covid-19 pandemic. The professionals can utilize video chat services to connect to the customers.

In January 2019, Kesko Corporation, a Finnish retail company, announced the acquisition of DIY retail business of the Sorbo retailer group, one of the prominent DIY retail businesses functioning in Norway. This acquisition encompasses two Byggmakker stores and B2B logistics center located in Norway.

Covid-19 Impact on the Market

The do-it-yourself (DIY) home improvement retailing market is experiencing considerable growth during the Covid-19 pandemic. Lockdown across the globe pushed a majority of the DIYers towards gardening and various home improvement projects. Apart from this, the key players are focusing on business expansion in various parts of the world. For example, in December 2020, Home Depot Product Authority, LLC, has proposed to open up two new distribution hubs in Perth Amboy and New Jersey in the U.S.A, in order to fulfill the demand for sustainable delivery options from the DIYers.

Future Analysis of the Market

There is always room for an innovative mind, which can build and create fabulous products from mere simple items. The do-it-yourself (DIY) home improvement retailing market is likely to face tremendous growth opportunities as long as there are new inventions lined up. Moreover, people’s demand for trendy goods for home décor is estimated to surge the market in the upcoming years.

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