APAC Home Improvement Market size is estimated to reach USD 90 billion by 2027, according to a latest forecast report by Graphical Research. The Asia Pacific home improvement industry is growing due to rising disposable income and changing customer preferences, as well as rapid urbanization and technology improvements.
The growth in interest rates and housing costs are driving the home improvement services sector. Residential property values are rising at their quickest rate in years, leading to rising urbanization in developing countries and significantly improved economies in developed countries. Consumers' increasing choices for energy-efficient and opulent living areas are helping to propel the sector forward. The industry has grown as a result of rapid urbanization and government attempt to give incentives and tax credits for sustainable construction. The expanding infrastructure projects for commercial spaces, as well as the increased immigration rate in the countries, would help to accelerate residential improvement in the region. Furthermore, the popularity of e-commerce and the availability of technologically improved system updates will drive market growth.
The Asia Pacific home improvement industry has seen a significant drop in income output due to the spread of the COVID-19 disease. Rising home building product prices and a scarcity of trained personnel in the home renovation industry are predicted to stifle market expansion. However, the industry's expansion will be aided by a rising building and construction industry.
The do-it-yourself home improvement segment will generate around USD 30 billion by 2027, owing to increasing house modifications such as landscaping construction, home offices, or simply remodeling the living and dining areas. The majority of consumers are shifting their inclinations toward DIY as it is economical and allows them to design and remodel to their own needs.
Browse detailed statistical insights from the report, “Asia Pacific 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” along with the table of contents (ToC) @
The exterior replacements end-use segment will witness 4% CAGR from 2021 to 2027, due to changing customer attitudes toward outdoor recreational activities. The outside has been refurbished with new windowpanes and doors, freshly painted walls, garden accessories, and other enhancements. They enhance the home's appearance while also enhancing its functionality and construction. Roofing, for instance, is a preferred exterior repair amongst homeowners because it enhances the look and feel of their homes. Consumer preferences for vinyl and polymer sidings that resemble real wood grain are projected to move the industry ahead.
The home improvement in APAC Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2016 to 2027, for the following segments:
Asia Pacific Market, By Project
Asia Pacific Market, By End-use
- Kitchen improvement & additions
- Bath improvement & additions
- System upgrades
- Exterior replacements
- Interior replacements
- Property improvements
- Disaster repairs
- Other room additions & alterations
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- Rest of Asia Pacific