Global DIY Market 2016-2020
Home improvement such as renovating and remodeling one's home is the key segment and also the largest segment in the global DIY market. Technavio's market research analyst expects the global DIY market to grow at a CAGR of around 3% during the forecast period. The growth of this 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.
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.
Geographical segmentation of the DIY market
Acceptance of DIY culture is very low in the APAC regions, hence the market is largely concentrated in the Western countries. The Americas occupies the largest share of the DIY market, with the US contributing the majority of the market share in this region. People in the US loves engaging themselves in DIY projects. Hence, this acts as a major driver contributing to the growth of the DIY market in the US.
Competitive landscape and key vendors
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.
The leading vendors in this market are -
The other prominent vendors in the market include OBI, Bauhaus, Kesko, Travis Perkins, Les Mousquetaires, and Hornbach.
Growth drivers, challenges, and upcoming trends €“ Customization of DIY
Technavio's market research analysts accentuate upcoming trends such as the customization of DIY products, which is undoubtedly a popular approach across industries. Following the ways by which customer demand is changing on a regular basis, customization of DIY products play a crucial role in the growth of the DIY market.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global DIY market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report
What will the market size and the growth rate be in 2020?
What are the key factors driving the global DIY market?
What are the key market trends impacting the growth of the global DIY market?
What are the challenges to market growth?
Who are the key vendors in the DIY market?
What are the market opportunities and threats faced by the vendors in the global DIY market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
What is the key outcome of the five forces analysis of the global DIY market?
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Global DIY Market 2016-2020
Technavio recognizes the following companies as the key players in the Global DIY Market: Adeo, Home Depot, Kingfisher plc and Lowe’s
Other Prominent Vendors in the market are: OBI, Bauhaus, Kesko, Travis Perkins, Les Mousquetaires, and Hornbach.
Commenting on the report, an analyst from Technavio’s team said: “The increasing penetration of the Internet and online shopping has led to a boom in online retailing. This plays a major driver in the growth of the DIY market globally. Top manufacturers are changing their retail strategies and are adopting omni-retail channels. Top players have now entered the e-commerce market with attractive websites and product offers.”
According to the report, DIY can be considered as an affordable alternative over DIFM, having cost advantage over the latter. Fully assembled products are more expensive due to their high production costs owing to high raw materials, assembling costs, and labor costs. Due to the items being more bulky, they also involve high shipping charges, which are passed on to the customer.
Further, the report states that the aging population of the country is one of the challenges that could affect the market.
Adeo, Home Depot, Kingfisher plc, Lowe’s, OBI, Bauhaus, Kesko, Travis Perkins, Les Mousquetaires, and Hornbach.