The market study conducted by Fact.MR provides exclusive insights into how the market will grow. The study identifies the crucial trends that are driving the growth of the home upgrade market. This newly released report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for the key players in the market as well as the emerging players associated with manufacturing and supply. Fact.MR’s latest report provides detailed market analysis of home upgrades
The report offers useful and valuable market insights for Home Upgrades. The latest report from Fact.MR provides details on the current market scenario in various regions along with the historical data and market forecast. The report also includes insights into Home Improvement market sales and demand across various industries and regions.
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This in-depth and recently released report sheds light on the Home Updates market insights, key dynamics, their impact on the overall value chain from vendors to end-users, and the growth of the Home Updates market .
A recently released report by Fact.MR predicts that the global home improvement grocery market will experience steady growth during the forecast period 2017 to 2022. The global home improvement grocery market is estimated to reach around 2,000 $,000 in revenue by the end of 2022.
Spending on home improvement is expected to experience sustained momentum in the near future. Home costs, which show a healthy increase, are encouraging homeowners to invest in renovations. Rising home stocks and low mortgage rates are playing a crucial role in provoking homeowners to refinance, which in turn will affect market growth. A new “nesting is investing” trend is becoming more popular around the world as homeowners are more interested in making investments in home improvement and remodeling operations.
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In the wake of the increase in disposable income of the population in developing and developed countries, several homeowners are shifting their focus towards renovations and repairs. Millennials and baby boomers are leading this charge, with millennials aiming for built-in technology and personalization and baby boomers focusing on updating their homes for affordability. These factors are expected to fuel the expansion of the global home improvement grocery market.
Demographic trends will support the market in the coming years. While the huge millennial generation will shape the future of home improvement spending, younger homes are expected to experience a slow pace of breaking into home ownership and remodeling activities. Additionally, many investors are now backing away from providing capital to the home improvement industry, as they expect the sector to show a decline in its expansion in the years to come. This possible headwind to home improvement growth is strongly attributed to the sales slowdown associated with larger ticket categories, such as home furnishings.These factors could affect the growth of the market during the forecast period.
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8 Key Facts from Fact.MR’s Report on the Home Improvement Expenditure Market
- Europe will continue to be the most lucrative region for the growth of the home improvement shopping market, in terms of revenues. Market revenues in this region are expected to exceed $700 billion by the end of 2022.
- Asia-Pacific excluding Japan (APEJ) will remain the second largest market for home improvement spending throughout the forecast period.
- North America is expected to witness the fastest expansion in the global market through 2022.
- In terms of revenues, Roofing is expected to remain the dominant product segment in the global market for home improvement spending.
- Room additions and bathroom remodeling are estimated to have the highest CAGRs in the market through 2022.
- Heating, ventilation, air conditioning and emergency repairs are projected to show steady expansion at similar CAGRs through 2022.
- Department stores are expected to remain the most lucrative distribution channel in the global home improvement market. Revenue from department store sales is expected to account for more than a quarter of the market share over the forecast period.
- Home improvement stores and franchised stores are poised to collectively account for approximately 50% market share, in terms of revenues. Franchised stores will remain relatively more profitable than home improvement stores in the home improvement market between 2017 and 2022.
Competitive landscape
The global home improvement shopping market marks the presence of prominent players such as
- Male company
- Kohler Co. Inc.
- Hitachi Ltd.
- BASF SE
- Robert Bosch GmbH.
- Geberit AG
- Siam Cement Public Co. Ltd.
- Toto Limited
Key Question Answered in Home Improvement Market Report Survey:
- Home improvement sales and demand
- Growth of the home upgrade market
- Home upgrade market analysis
- Analysis of the home upgrade market
- Key Drivers Impacting the Home Update Market
- What are the key drivers affected by the Home Update Market
- Restrictions shape market growth
- Market survey on home upgrades
More valuable insights into the home upgrade market
Fact.MR, in its new report, offers an unbiased market analysis of home upgrades, sales and demand for home upgrades, analyzing forecast statistics up to 2019 and beyond. The study reveals growth projections based on several criteria.
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