Home Improvement Market: By Type, By Buyers Age By City Type, and Region Forecast 2020-2031

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Home Improvement Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Kitchen Renovation & Addition, Bathroom Renovation & Addition, Exterior & Interior Replacements, System Upgrades and Others), By Buyers Age (Under 35, 35-54, 55-64 and Above 65) By City Type (Metro Cities and Other Non-Metro Cities & Towns), and Region Forecast 2020-2031

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Home Improvement Market size was valued at US$ 919.7 million in 2024 and is expected to reach US$ 1,382.8 million by 2031, growing at a significant CAGR of 6% from 2025-2031. The market refers to the industry focused on the renovation, remodeling, and enhancement of residential properties. It encompasses a wide range of products and services aimed at improving the aesthetics, functionality, comfort, and energy efficiency of homes. Home improvement projects can include renovations of kitchens, bathrooms, bedrooms, and outdoor spaces, installation of new flooring, windows, doors, roofing, plumbing, electrical upgrades, and more. The driving factor in the market is the increasing desire among homeowners to enhance the value and appeal of their properties. Homeowners often undertake improvement projects to create a more comfortable living space, personalize their homes, and increase the resale value.

Factors such as changing lifestyle preferences, evolving design trends, and the need for energy-efficient solutions also drive the demand for home improvement products and services. Additionally, the availability of various financing options, government incentives, and tax benefits for energy-efficient upgrades further stimulate the market. Homeowners are motivated to invest in improvements that can lead to long-term cost savings, improved sustainability, and reduced environmental impact. Overall, the market continues to thrive as homeowners seek to create their ideal living spaces, increase property values, and adapt to changing lifestyle needs while incorporating energy-efficient and sustainable solutions.

Key Developments

  • In January 2023, Home Depot and Lowe's partnered with Google to offer smart home products: Home Depot and Lowe's announced a partnership with Google to offer smart home products in their stores. The partnership will allow customers to purchase smart home products from Google, including Nest thermostats, Google Home speakers, and Chromecast devices.
  • In February 2023, IKEA launches a new home improvement app: IKEA launched a new home improvement app called IKEA Home Planner. The app allows users to design their own home improvement projects, including kitchens, bathrooms, and bedrooms.

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Home Improvement Market Summary

Study Period

2025-2031

Base Year

2024

CAGR

6%

Largest Market

North-America

Fastest Growing Market

Asia-Pacific

Home Improvement Market Dynamics

One of the drivers in the market is the increasing trend of homeowners staying in their homes for longer periods. With rising property prices and the desire for stability, many homeowners are opting to improve and renovate their existing homes rather than selling and moving.

This trend is fueled by factors such as low housing inventory, high transaction costs, and a desire to customize living spaces to suit individual preferences. Homeowners are investing in renovations and upgrades to create their dream homes and increase the value of their properties, driving the growth of the market.

Home Improvement Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2025-2031

Market Size in 2024

US$ 919.7 million

Market Size in 2031

US$ 1,382.8 million

Market CAGR

6%

By Type

  • Kitchen Renovation & Addition
  • Bathroom Renovation & Addition
  • Exterior & Interior Replacements
  • System Upgrades
  • Others

By Buyers Age

  • Under 35
  • 35-54
  • 55-64
  • Above 65

By City Type

  • Metro Cities
  • Other Non-metro Cities & Towns

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Key Features of the Report

  • The home improvement market report provides granular level information about the market size, regional market share, historic market (2020-2024), and forecast (2025-2031)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis

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Frequently Asked Questions

Home improvement market size was valued at US$ 919.7 million in 2024 and is expected to reach US$ 1,382.8 million by 2031, growing at a CAGR of 6%.

Homeowners undertake home improvement projects for various reasons, including enhancing the value and appeal of their properties, creating a more comfortable living space, personalizing their homes, adapting to changing lifestyle needs, increasing energy efficiency, and potentially increasing resale value.

The key players of home improvement market are Sherwin-Williams Company, DuPont de Nemours, Watsco Inc., Robert Bowden, ABC Supply Co.

1.Executive Summary
2.Global Home Improvement Market Introduction 
2.1.Global Home Improvement Market  - Taxonomy
2.2.Global Home Improvement Market  - Definitions
2.2.1. Type
2.2.2.Buyers Age
2.2.3.City Type
2.2.4.Geography
2.2.5.Region
3.Global Home Improvement Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Home Improvement Market Analysis, 2020-2024 and Forecast 2025-2031
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Home Improvement Market  By  Type, 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
5.1. Kitchen Renovation & Addition
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Bathroom Renovation & Addition
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Exterior & Interior Replacements
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. System Upgrades
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Others
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
6.Global Home Improvement Market  By Buyers Age, 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
6.1. Under 35
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. 35-54
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. 55-64
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Above 65
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
7.Global Home Improvement Market  By City Type, 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
7.1. Metro Cities
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Other Non-metro Cities & Towns
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Home Improvement Market  By Geography, 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. The Asia Pacific
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Latin America
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. MEA
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.Global Home Improvement Market  By Region, 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024-2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Home Improvement Market , 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
10.1.  Type Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Kitchen Renovation & Addition
10.1.2.Bathroom Renovation & Addition
10.1.3.Exterior & Interior Replacements
10.1.4.System Upgrades
10.1.5.Others
10.2.  Buyers Age Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Under 35
10.2.2.35-54
10.2.3.55-64
10.2.4.Above 65
10.3.  City Type Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Metro Cities
10.3.2.Other Non-metro Cities & Towns
10.4.  Geography Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.North America
10.4.2.Europe
10.4.3.The Asia Pacific
10.4.4.Latin America
10.4.5.MEA
10.5.  Country Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Home Improvement Market , 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
11.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Kitchen Renovation & Addition
11.1.2.Bathroom Renovation & Addition
11.1.3.Exterior & Interior Replacements
11.1.4.System Upgrades
11.1.5.Others
11.2.  Buyers Age Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Under 35
11.2.2.35-54
11.2.3.55-64
11.2.4.Above 65
11.3.  City Type Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Metro Cities
11.3.2.Other Non-metro Cities & Towns
11.4.  Geography Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.North America
11.4.2.Europe
11.4.3.The Asia Pacific
11.4.4.Latin America
11.4.5.MEA
11.5.  Country Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Home Improvement Market , 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
12.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Kitchen Renovation & Addition
12.1.2.Bathroom Renovation & Addition
12.1.3.Exterior & Interior Replacements
12.1.4.System Upgrades
12.1.5.Others
12.2.  Buyers Age Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Under 35
12.2.2.35-54
12.2.3.55-64
12.2.4.Above 65
12.3.  City Type Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Metro Cities
12.3.2.Other Non-metro Cities & Towns
12.4.  Geography Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.North America
12.4.2.Europe
12.4.3.The Asia Pacific
12.4.4.Latin America
12.4.5.MEA
12.5.  Country Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Home Improvement Market , 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
13.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Kitchen Renovation & Addition
13.1.2.Bathroom Renovation & Addition
13.1.3.Exterior & Interior Replacements
13.1.4.System Upgrades
13.1.5.Others
13.2.  Buyers Age Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Under 35
13.2.2.35-54
13.2.3.55-64
13.2.4.Above 65
13.3.  City Type Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Metro Cities
13.3.2.Other Non-metro Cities & Towns
13.4.  Geography Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.North America
13.4.2.Europe
13.4.3.The Asia Pacific
13.4.4.Latin America
13.4.5.MEA
13.5.  Country Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Home Improvement Market , 2020-2024 and Forecast 2025-2031 (Sales Value USD Million)
14.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Kitchen Renovation & Addition
14.1.2.Bathroom Renovation & Addition
14.1.3.Exterior & Interior Replacements
14.1.4.System Upgrades
14.1.5.Others
14.2.  Buyers Age Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Under 35
14.2.2.35-54
14.2.3.55-64
14.2.4.Above 65
14.3.  City Type Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Metro Cities
14.3.2.Other Non-metro Cities & Towns
14.4.  Geography Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.North America
14.4.2.Europe
14.4.3.The Asia Pacific
14.4.4.Latin America
14.4.5.MEA
14.5.  Country Analysis 2020-2024 and Forecast 2025-2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Sherwin-Williams Company
15.2.2.DuPont de Nemours
15.2.3.Watsco Inc.
15.2.4.Robert Bowden
15.2.5.ABC Supply Co.
15.2.6.Neil Kelly Company
15.2.7.Henkel Corporation
15.2.8.Andersen Corporation
15.2.9.The Home Depot
15.2.10.American Exteriors.
16. Research Methodology 
17. Appendix and Abbreviations 

Key Market Players

  • Sherwin-Williams Company
  • DuPont de Nemours
  • Watsco Inc.
  • Robert Bowden
  • ABC Supply Co.
  • Neil Kelly Company
  • Henkel Corporation
  • Andersen Corporation
  • The Home Depot
  • American Exteriors.

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