North American Home Improvement Market size is anticipated to reach USD 535 billion by 2027, according to a latest forecast report by Graphical Research. Shifting consumer preferences toward DIY projects will stimulate the market growth.
North America held around 55% share in the global home improvement market in 2020. The rapid adoption of energy-efficient & sustainable products in home improvement projects, increasing young population, and supportive government policies are continuously influencing the market growth. Additionally, improving housing market along with attractive mortgage & interest rates are fueling housing units demand. New generations is more inclined toward Do-It-Yourself (DIY) projects as they provide economic and personalized projects according to the changing lifestyles, which will further create opportunities for market growth. Furthermore, housing & infrastructure issues, such as space limitation, aging building components, and rapid advancements in technologies, are likely to drive the North America home improvement industry by 2027. The recent COVID-19 pandemic has negatively impacted business growth owing to disruptions in the supply chain and a halt in production across the region. The situation is recovering quickly due to the lifting of lockdowns and rapid vaccination policies, which will gradually contribute to the market share.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
Do-It-Yourself (DIY) segment will grow at a CAGR over 4% from 2021 to 2027. DIY projects are encouraging homeowners and rental property owners to carry out numerous projects by themselves with the help of different tools, equipment, and appliances. In addition, the rising price trend of new houses and constant development in home renovation projects & activities will further enhance the market share from DIY in the near future.
The exterior replacements segment will capture a considerable market share of over USD 90 billion by the end of 2027. Growing outdoor leisure activities among households will drive exterior replacement segment growth. The rising consumer awareness to keep up with the new & improved design trends, such as polymer & vinyl sidings and stone veneer sidings, to improve the appearance & outlook of house exteriors will propel the market size. In addition, effective renovation projects pertaining to the exterior environment will improve the safety & security of a house, which will further boost the market growth.
Countries including the U.S. and Canada have experienced an increasing number of rental houses in recent years. This will eventually create a demand for economical, sustainable, and effective renovation components that can adjust in small rental spaces, thus driving the market demand.
The North America Home Improvement 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:
North America Market, By Project
North America 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: