This market research report presents a comprehensive breakdown of the global DIY market by geography, including the Americas, APAC, Europe, and MEA. The report also discusses the major drivers and the key trends influencing market growth, as well as the challenges faced by the market. It further includes an insightful analysis of the leading vendors in this market such as Adeo, Home Depot, Kingfisher plc, and Lowe’s.
Technavio’s market research analysts estimate the global DIY market, to grow at a CAGR of around 3% between 2016 and 2020. The growth of DIY market is mainly supported by the media presence, be it through the traditional medium such as television or the online presence in the form of video websites or social media. Home improvement such as renovating and remodeling one’s home is the largest segment in the global DIY market. The Americas occupies the largest share of the DIY market, owing to huge engagement of individuals in DIY projects.
The new market research report from Technavio provides a breakdown and analysis of the DIY segments by technology.
“Customization of DIY products is one of the latest trends that this market is witnessing. Manufacturers are increasingly focusing on this popular approach, owing to the constantly changing customer requirements. Various home improvement stores offer a variety of inexpensive pieces and finishes, allowing the customers to add customization according to their needs. For instance, Daniel Venneman and Mark van der Net in Netherlands offers an open-source home kit that allows DIYers to build and customize their own micro-house,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
The emergence of a large number of retail stores such as hypermarkets, supermarkets, and specialty stores across the globe is another major driver for the growth of the DIY market. These stores enable consumers to seek information on various brands, compare prices, quality, design, and then make a decision at their convenience and comfort. Also, with the increase in brand consciousness among consumers, the importance of organized retailers carrying branded DIY products is on the rise.
The leading vendors in the global DIY market include Adeo, Home Depot, Kingfisher plc, and Lowe’s. The sedated growth of the global DIY market is likely to spur vendors to bring in new products to meet the buying trend among the customers and remain competitive in the market. Additionally, the rising adoption of DIY activities in the developing region is also luring vendors in the DIY market to venture into these market and expand their foothold.
A more detailed analysis is available in the Technavio report, Global DIY Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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