According to the research report titled ‘Home Improvement Market Size By Project (DIY, DIFM), By End-use (Kitchen Improvement & Additions, Bath Improvement & Additions, System Upgrades, Exterior Replacements, Interior Replacements, Property Improvements, Disaster Repairs, Other Room Additions & Alterations), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, COVID19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027,’ available with MarketStudyReport, global home improvement market is slated to register notable expansion during 2021-2027.

Soaring prices of new homes, rise in transfer of ownership, supportive energy-efficiency programs, and increased spending on modernization of aging infrastructure are determinants propelling the growth of global home improvement market. 

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Moreover, shifting consumer preferences toward eco-friendly products, and massive government spending on housing projects are further escalating the progress of industry. 

However, shortage of skilled labor to meet the consumer demand, coupled with elevated costs to enhance the supply chain efficiency are likely to hinder the development of business sphere in the coming years.

In terms of end-use, the kitchen improvement segment is estimated to record a 5.8% CAGR during the analysis period, owing to the rising disposable income facilitating the remodeling of kitchen with improvements like cabinets, kitchen flooring, etc. 

While the system upgrades vertical of worldwide home improvement market is anticipated to grow at 4.9% CAGR during the forecast period, on account of soaring consumer demand for smart technologies for luxury homes as well as concerns over security enabling the installation of security cameras, motion sensors, etc. 

From a regional standpoint, Asia Pacific market is poised to develop at 4.5% CAGR during the assessment timeframe, ascribed to rising number of renovation projects, increasing primary & secondary properties in the region, and preference of customers for complete installation packages as a result of greater convenience.

Meanwhile, Latin America home improvement industry size is projected to grow at 5.2% CAGR through 2027, due to huge government investments to increase housing & structural reforms, and exuberant real estate prices compelling more home improvement projects. 

The established names in market include Case Design/Remodeling, Inc., Andersen Corporation, American Exteriors LLC, ABC Supply Co., Inc., The Sherwin-Williams Company, Builders FirstSource, Inc., Pella Corporation, DuPont de Nemours, Inc., Masco Corporation, Ferguson Enterprises LLC, Lutron Electronics Co., Inc., Beacon Roofing Supply, Inc., Kohler Co., The Home Depot, and JELD-WEN, Inc. among others.