Dublin, March 18, 2022 (GLOBE NEWSWIRE) -- The "United States Home Improvement Market, By Product (Building and Remodeling, Home Decor, Outdoor Living, and Tools and Hardware), By Project (DIFM and DIY), By Sourcing, By Region, By Top 10 Leading States, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The United States Home Improvement Market valued at USD419.80 billion in 2020 and is anticipated to grow with a CAGR of 4.47% in the forecast period, 2022-2026 to achieve market value of USD537.47 billion by 2026.
The United States Home Improvement Market's growth can be attributed to rapidly increasing disposable income among the population and growing trend of renovations and decoration of interiors and exteriors of homes. Recent shift in the preference of the consumers toward energy-efficient and luxurious homes is expected to further drive the growth of the United States Home Improvement Market in the upcoming five years.
Advancing construction industry working towards rehabilitation and renovation of old homes to modernize and increasing investments in the sector are also supporting the growth of the market. There has been a rise in the homeowner equity, which has doubled in the past five years, and with it the investment towards improving one's home has also increased, which is also substantiating the growth of the market.
Rapid urbanization, government initiatives to provide tax credits on green buildings, and growing awareness about green buildings and residential accommodations are further aiding the growth of the United States Home Improvement Market in the forecast years, until 2026.
The United States Home Improvement Market is segmented by product, project, sourcing, regional distribution, top 10 leading states, and competitional landscape.
Based on project, the market is further bifurcated into DIFM and DIY. DIFM segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of added labor cost, professional expertise. DIY projects are also expected to register fastest growth in the next five years due to rapidly growing e-commerce sales channels.
Moreover, DIY is gaining preference among the population due to its advantages like cost-efficiency, customer satisfaction, and personalized projects.
Objective of the Study:
- To analyze the historical growth in the market size of the United States Home Improvement Market from 2016 to 2020.
- To estimate and forecast the market size of the United States Home Improvement Market from 2021 to 2026 and growth rate until 2026.
- To define, classify and forecast the United States Home Improvement Market on the basis of product, project, sourcing, region, top 10 leading states and company.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of four regions, namely - South, West, Midwest and Northeast.
- To examine competitive developments such as expansions, innovative product launches, government policy and investments and new entrants in the United States Home Improvement Market.
- To strategically profile leading players operating in the United States Home Improvement Market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the United States Home Improvement Market.
- The Home Depot U.S.A., Inc.
- Lowe's Companies, Inc.
- Menard, Inc.
- ACE Hardware Corporation
- True Value Company
- Lumber
- Floor & Decor Holdings, Inc.
- M Company
- Kohler Company
- ABC Supply Co., Inc.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
United States Home Improvement Market, By Product:
- Building and Remodeling (Building Supplies, Electricals, Heating and Cooling, Plumbing)
- Home Decor (Decor, Flooring, Kitchen and Bath, Lighting and Fans, Paints, etc.)
- Outdoor Living (Books, Cleaning and Janitor, Garden Center, Outdoor Power Equipment)
- Tools and Hardware (Hand Tools, Hardware, Power Tools, Safety and Security)
United States Home Improvement Market, By Project:
- DIFM
- DIY
United States Home Improvement Market, By Sourcing:
- Homeware Stores
- Franchised Stores
- Specialty Stores
- Online Sales Channel
- Others
United States Home Improvement Market, By Region:
- South
- West
- Mid-West
- North-East
United States Home Improvement Market, By Top 10 Leading States:
- Oklahoma
- Louisiana
- Georgia
- Hawaii
- North Carolina
- Nevada
- Tennessee
- Texas
- Washington
- Illinois
For more information about this report visit https://www.researchandmarkets.com/r/7ltsq3
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