Do-it-Yourself (DIY) Home Improvement Retailing Market in Europe 2019-2023
About this market
DIY interior decoration and home improvement projects have become popular among consumers across the world due to the rising urbanization rate and evolving lifestyles. Moreover, the growing population of working women and their participation in the decision-making process for home decoration are also pushing the sales of tools required for such projects, including power drills, nail guns, bathroom and lawn tools, and others. DIY home improvement tools for maintenance and repair work involve lower long-term cost than outsourcing of the work. Therefore, the increasing demand for DIY home improvement tools is a major market driver for the growth of the DIY home improvement retailing market in Europe. Technavio’s analysts have predicted that the do-it-yourself (DIY) home improvement retailing market in Europe will register a CAGR of over 2% by 2023.
Growth of residential real estate industry
The growth of the real estate industry in Europe has led to an increase in the construction of residential buildings and societies. Residential construction across the world is increasing in tandem with the rising population. The demand for DIY home improvement products, which are used to carry out home improvement operations while saving costs.
Complexities in using DIY home improvement tools
low expertise in operating DIY home improvement tools and lack of different varieties in DIY projects affect the growth of the DIY home improvement retailing market in Europe. These factors are expected to hinder the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the do-it-yourself (DIY) home improvement retailing market in Europe during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Do-it-Yourself (DIY) Home Improvement Retailing Market in Europe 2019-2023
Technavio recognizes the following companies as the key players in the do-it-yourself (DIY) home improvement retailing market in Europe: ADEO, BAUHAUS, HORNBACH Baumarkt AG, K-GROUP, Kingfisher plc, Travis Perkins.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the technological advances in DIY home improvement projects tools.”
According to the report, one of the major drivers for this market is the convenience offered by online stores.
Further, the report states that one of the major factors hindering the growth of this market is the intense rivalry among market competitors.
HORNBACH Baumarkt AG
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