The market analysis report titled ‘Europe Home Improvement Market Forecast 2027 By Project, By End-use, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, cites that Europe home improvement market is predicted to amass a substantial valuation of more than USD 305 Bn during 2021-2027.
 

As per the report findings, Europe home improvement market is driven by growing purchasing power and increasing focus on aesthetically pleasing and eco-friendly products compelling homeowners to opt for upgradations in their living abodes.

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Notably, the Covid-19 pandemic has contributed significantly towards the growth of the industry as the crisis has created necessity for a versatile home environment that facilitates remote working, online learning and teaching.

Moving on to segmentation, the Europe home improvement industry is bifurcated in terms of project type (IDY), end-use and region.  

Considering project type, the DIY segment is rapidly gaining prominence and is estimated to reach a valuation of around USD 117 billion over the forecast period. This can be credited to rising labor costs that have inadvertently forced people to take up maintenance and repair tasks while also encouraging the younger generation to opt for craft-based hobbies. Besides, social distancing norms amid the pandemic has further added to the segmental growth.

Speaking of end-user scope, the modular kitchen division is projected to surpass a valuation of USD 44 billion during the analysis timeframe as consumers are increasingly opting for innovative, sustainable and efficient kitchens that can be utilized for purposes that range beyond cooking.  

Geographically, the UK home improvement market from e-commerce sector held more than two-thirds of the retail share in 2021 and is likely follow similar trend during the forecast period, mainly due to the surge of online shopping amid the pandemic.

The competitive landscape of Europe home equipment market is influenced by major players like Obi Group Holding GmBH, Kesko Corporation, Groupe Adeo, DuPont de Nemours Inc., Dow Building Solutions, Bauhaus, ITM Enterprises S.A., and Eurobaustoff Handelgesellcraft GmBH and Co.KG. These players are directing efforts towards innovative products to expand their consumer base and improve their foothold in this domain.