The global home improvement market in 2022 is valued at US$ 342 billion and is predicted to exhibit expansion at a CAGR of 6.7% over the next eight years. Fact.MR predicts the market to attain a revenue of US$ 575.5 billion by the end of 2030.
Urbanization has increased across the world and is now changing consumer trends in developing and under-developed economies. Sustainability is also a key factor that is influencing global growth statistics. The aforementioned factors are expected to crucially shape the growth of the home improvement market through 2030.
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Opportunities in Home Improvement Industry:
“Start-ups Cashing in on New Funding to Scale their Home Improvement Businesses”
Home improvement and renovation have become popular trends across the world as the standard of living of people is being elevated with higher disposable income in their pockets to spend. A flourishing home improvement marketplace has created has attracted many new companies to create innovative services and solutions for consumers.
New companies are acquiring new funding to expand their business scope and enhance their stance in the global home improvement industry landscape.
- In August 2022, Setle, a Belgian-based start-up, announced that it had raised around US$ 15 million and this investment was led by KBC, a Belgian bank insurer. The start-up almost instantly provides a realistic cost for sustainable renovations for real estate agents and prospective buyers.
- In March 2022, Weaver, a London-based start-up founded in 2017, closed a seed round at US$ 4 million led by European VC btov Partners. The company offers a SaaS contract negotiation platform that matches contractors and homeowners to simplify the renovation process.
- In November 2021, Block Renovation, a start-up founded in 2017, raised US$ 50 million in a Series C funding round. The company planned to use this funding to take its offerings and business across the United States. The company’s platform digitizes and automates renovation to provide ease to customers.
Companies in the home improvement market are expected to improve their business scope by deploying new services such as same-day delivery for home improvement products. For instance,
- In February 2022, Lowe’s Companies Inc., an American company specializing in home improvement, announced a new partnership with an online grocery delivery platform, Instacart. Through this partnership, the company will provide same-day delivery of its home improvement products in the North American region.
Key Companies Profiled:
- 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
- Lutron Electronics
- Dreamstyle Remodeling
- Steves and Sons Roxul
- Builders FirstSource
- Masco Corporation
- Ferguson Enterprises
- Keller Supply Company
- Case Design/Remodeling
- Beacon Roofing Supply
- Pella Corporation
Key Segments in Home Improvement Industry Research:
· By Type :
· By End Use :
- Kitchen Improvement & Additions
- Bath Improvement & Additions
- System Upgrades
- Exterior Replacements
- Interior Replacements
- Property Improvements
- Disaster Repairs
- Other Room Additions & Alterations
· By Region :
- North America
- Latin America
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Home Improvement make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Home Improvement Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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