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Home Improvement Market Trends

Report ID: GMI3251
Published Date: Jun 2024
Report Format: PDF

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Home Improvement Market Trends

The home improvement industry is experiencing a rise in the adoption of smart home technology, including voice-activated assistants, smart thermostats, security cameras, and automated lighting, with the goal of improving convenience and efficiency. At the same time, there is a growing focus on sustainability, as more homeowners are choosing eco-friendly materials and energy-saving options such as solar panels, energy-efficient windows, and recycled construction materials. These patterns indicate a shift toward living spaces that are more advanced technologically and environmentally conscious.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global home improvement market was valued at USD 857.6 billion in 2023 and is estimated to grow at 6% CAGR during 2024-2032 due to rapid urbanization in developing economies.

The exterior replacements segment accounted for 18.1% of the market share in 2023 due to changing customer preferences for outdoor leisure activities.

The U.S. home improvement industry accounted for USD 392.9 billion in 2023, attributed to expanding construction sector and the rise in construction expenditure.

American Exteriors, Belfor, Coit Services, Inc, Crane Renovation Group, DKI Ventures, LLC, FirstService Corporation, Henkel Corporation, Kohler, Lowe's Companies, Masco Corporation, Mr. Handyman, Neil Kelly Company among others.