The DIY home improvement retailing market in Europe is expected to post a CAGR of around 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global do-it-yourself home improvement retailing market in Europe 2019-2023. (Graphic: Business Wire)
The global real estate industry is witnessing a rise in the number of housing construction projects in countries such as Germany, the UK, France, Italy, Switzerland, Austria, Denmark, and other European countries. This has increased the demand for DIY home improvement tools to carry out home improvement operations to save costs. Also, the rise in the number of dual-income households has increased the consumer spend on real estate and DIY home improvement products. As a result of these factors, the DIY home improvement retailing market growth is expected to accelerate during the forecast period.
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As per Technavio, technological advancements in DIY home improvement tools will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Do-it-Yourself (DIY) Home Improvement Retailing Market in Europe: Technological Advancements in DIY Home Improvement Tools
Vendors in the market are focusing on factors such as product differentiation, including innovation and product assortment to gain an advantage over their competitors. For instance, several vendors are launching mobile applications for Android and iOS platforms that leverage augmented reality (AR) technology to enable users to get precise measurements of the furniture. The advent of such innovative technologies is expected to boost the growth of the DIY home improvement retailing market in Europe during the forecast period.
“Apart from technological advancements in DIY home improvement tools, the advent of cordless DIY power tools, and the adoption of RTA furniture in Europe are some other factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Do-it-Yourself (DIY) Home Improvement Retailing Market in Europe: Segmentation Analysis
This report segments the DIY home improvement retailing market in Europe by product (lumber and landscape management, décor and indoor garden, kitchen, painting and wallpaper, tools and hardware, building materials, lighting, plumbing materials and equipment, flooring, repair, and replacement, and electrical work) and geography (Germany, France, UK, Italy, and Rest of Europe (ROE)).
Germany led the market in 2018, followed by France, UK, Italy, and ROE respectively. During the forecast period, Germany is expected to maintain its dominance over the global market. This is due to the presence of various small and large market players in the country and the adoption of effective advertising campaigns.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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