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North America Home Improvement Market Forecast 2027 By End-use (Kitchen Improvement & Additions, Bath Improvement & Additions, System Upgrades, Exterior Replacements, Interior Replacements, Property Improvements, Disaster Repairs), By Project (DIY, DIFM), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: September 2021 | Publisher: Graphical Research Report ID: GR1961 | Delivery : PDF  Request Free Sample

North America Home Improvement Market size exceeded USD 415 billion in 2020 and is expected to witness over 4% CAGR from 2021 to 2027. Increasing spending on home improvement projects owing to the strengthening of the economy and recovery of housing prices will drive the market growth.

  North America Home Improvement Market Size

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The North America market revenue will be further driven by the rising acceptance of new, better & advanced materials among homeowners, interior designers, and DIYers for several renovation & restructuring projects. Online platforms are becoming the latest forum as they allow consumers to compare and identify the desired products.

Moreover, the market demand is owing to shifting consumer preferences toward green & aesthetic products for renovation projects. A rapid surge in population along with the thriving residential construction sector in the U.S. will be a key impetus for the market growth. The rapid adoption of advanced building systems & technologies to improve the air filtration capacity along with better heat transfer techniques is continuously gaining popularity in recent years. In addition, stringent regulations & policies pertaining to a significant reduction in CO2 emission levels will provide a positive scope for the market expansion.

North America Market, By Project

North America Home Improvement Market Size,  By Project

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The DIFM segment revenue will likely reach USD 315 billion by 2027. Rising disposable incomes and increasing demand for luxurious interior & exterior decoration for aesthetic appearance will cater to the market growth. Moreover, the wide availability of options & preferences related to complex designs & professional finishing in expensive home remodeling projects will provide a positive outlook for the market size expansion.

North America Market, By End-use

  North America Home Improvement Market Size, By End-use

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North America Market, By Country

The U.S. dominated a North America home improvement market share of more than 80% in 2020, owing to the increasing awareness among customers regarding home wellness. Moreover, the number of rental houses has increased in recent years, which will further influence the market revenue.

Competitive Industry Landscape

Some of the major North America industry players are Sherwin-Williams Company, Andersen Corporation, Hanley Wood LLC, The Home Depot, Inc. JELD-WEN, Kohler Co., DuPont Building Innovations, Robert Bowden, Inc., Ferguson Enterprises, Dow Building Solutions, and Masco Corporation. Industry participants are gradually focusing on new product development and merger & acquisitions for business expansion.
 

Frequently Asked Question(FAQ) :

The market for home improvement in North America was generated USD 415 billion in annual revenue in 2020 and could witness a 4% CAGR till 2027.
The rise of North America market is attributable to the continuous residential expansion, consumer demand for aesthetic interior designs, increasing number of DIYers, and the proliferation of online platforms.
The demand for kitchen improvement & additions in North America industry could grow at a 6% CAGR owing to the proliferating trend of smart kitchens and consumer demand for add-ons such as motion-sensing lights, automatic washing liquid dispensers, etc.
The market share for home improvement in North America from DIFM projects could be worth USD 315 billion by 2027 led by the rise in disposable incomes and the demand for luxurious interior and exterior design for improved aesthetic appeal.
U.S. held more than 80% revenue share of North America market in 2020 owing to increased public spending on home wellness and interior decor.
Sherwin-Williams Company, Hanley Wood LLC, Andersen Corporation, The Home Depot, Inc., DuPont Building Innovations, Kohler Co., Dow Building Solutions, Ferguson Enterprises, and Robert Bowden, Inc. are some of the prominent players in North America market.

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