The US DIY home improvement market is forecast to grow by USD 54.83 billion at a CAGR of 3.7% between 2024 and 2029.
In the home improvement sector, there has been a notable surge in interest for DIY projects, as homeowners increasingly focus on personalizing their living spaces. The accessibility of advanced tools and hardware from retailers such as Toolstation and Walmart’s online platform has made it easier for consumers to embark on such projects. Urbanization has also driven higher demand for wallpaper and other supplies to enhance apartments and condos. Additionally, a significant shift in consumer behavior is occurring, with a move from DIY to Do-It-For-Me (DIFM) services. The integration of Augmented Reality (AR) technology is also transforming home improvement projects by providing a more interactive experience.
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The DIY home improvement market is segmented into several key areas, each contributing to the overall growth.
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Several drivers are contributing to the growth of the US DIY home improvement market. A key driver is the increasing emphasis on personalized interior design, as homeowners seek to enhance the aesthetics and functionality of their living spaces. Urbanization has led to a rise in demand for products like wallpaper and supplies to decorate apartments and condos. In addition, hectic lifestyles are pushing consumers to take on DIY projects to save both time and money, especially in areas such as painting, electrical work, plumbing, and light installation.
The availability of building materials and tools has been significantly bolstered by e-commerce platforms, which allow homeowners to easily access a wide array of products. Retailers such as Walmart and Toolstation have made it more convenient for consumers to engage in DIY projects, further supporting market growth. Moreover, as environmental concerns continue to rise, consumers are increasingly focused on eco-friendly DIY home improvement solutions, opting for sustainable materials to reduce their carbon footprint.
Technology is reshaping the DIY home improvement experience. The introduction of Augmented Reality (AR) in home improvement projects has allowed consumers to visualize their improvements before execution. Furthermore, mobile applications that provide product location, inventory checks, and price comparisons are making DIY projects more convenient. Retailers like Lowe’s have integrated advanced in-store map functionalities, enhancing the shopping experience for customers.
Additionally, the increasing focus on sustainability has led to a rise in demand for zero-waste and eco-friendly DIY solutions. Consumers are opting for sustainable materials and environmentally responsible techniques to minimize their carbon footprint.
Despite the rapid growth, several challenges are impacting the US DIY home improvement market:
Several prominent companies are playing a significant role in the growth of the DIY home improvement market in the US:
These companies are investing heavily in innovative products, partnerships, and technological advancements to cater to the growing demand in the DIY home improvement market. With the rise of e-commerce and increased interest in sustainable solutions, these companies are positioning themselves to capitalize on emerging trends in the market.
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