DIY Market in Europe 2016-2020
About the DIY Market in Europe
Do-it-yourself, also known as DIY, is a process of building, modifying, or repairing without the direct help of experts or professionals. DIY behavior can be triggered by the need for customization, lack of product availability and quality, and the prospect of economic benefits.
DIY home improvement activities such as painting, assembling furniture, and landscaping are quite popular in European countries such as Germany, the UK, and France.
Technavio’s analysts forecast the DIY market in Europe to grow at a CAGR of 1.53% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the DIY market in Europe for 2016-2020. To calculate the market size, the report takes into account the revenue generated through retail sales of DIY products purchased from DIY and home improvement stores. The market size considers retail sales only from 28 EU countries.
The market is divided into the following segments based on countries:
Technavio Announces the Publication of its Research Report – DIY Market in Europe 2016-2020
Technavio recognizes the following companies as the key players in the DIY market in Europe: ADEO, Bauhaus, Hornbach Baumarkt, Kingfisher, and OBI.
Other Prominent Vendors in the market are: EMV-PROFI, Eurobaustoff, Intergamma, Kesko, Travis Perkins, Les Mousquetaires, Sherwin-Williams, and ZEUS.
Commenting on the report, an analyst from Technavio’s team said: “A trend contributing to the growth of the market is a rising interest in home improvement. One of the major factors contributing to the growth of the DIY market in Europe is the thriving home improvement segment in the region. The home improvement market is highly fragmented, which provides many growth opportunities to manufacturers. In Europe, the home improvement market stood at $362.5 billion in 2014. With an improved standard of living and the increased demand for a better home space, the home improvement segment has successfully positioned itself as a top priority among consumers.”
According to the report, a key growth driver is the influence exerted by media. Media, especially television, has been playing a major role in developing the DIY consumer base by telecasting shows on home remodeling and repairs. Cable television networks like TLC Network and HGTV are increasingly focusing on DIY projects at home. The social media also plays a vital role in the growth of this market. Video streaming sites such as YouTube and Vimeo encourage DIY consumers to learn and try new things. Social network sites such as Facebook and Pinterest also help in attracting DIY consumers.
Further, the report states that one challenge that could hamper market growth is intense competition among vendors. The inability to adapt to the changing competitive landscape could affect the profitability, margins, or demand for products. Hence, major players are shifting to omni-retail strategy to adapt to the changing competitive landscape. Vendors need to diversify their product lines and enter niche markets to combat this challenge.
ADEO, Bauhaus, Hornbach Baumarkt, Kingfisher, OBI, EMV-PROFI, Eurobaustoff, Intergamma, Kesko, Travis Perkins, Les Mousquetaires, Sherwin-Williams, ZEUS.
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