1 Global Home Improvement Hard Goods Market Outlook
The global Home Improvement Hard Goods market is projected to exhibit substantial growth in the coming years, with a CAGR of 5.98% from 2024 to 2033, reaching a total market size of $967204 million USD in 2024. Home improvement hard goods are defined as durable materials and products used in the construction, repair, and enhancement of residential properties. These goods are essential for improving the functionality, aesthetics, and overall value of homes. The market includes a diverse range of products, from basic building materials like wood and cement to advanced technologies such as smart home systems and energy-efficient appliances. The increasing focus on sustainability and environmental impact is also driving the development of eco-friendly materials and products, which are becoming more popular among consumers.
Figure Global Home Improvement Hard Goods Market Size and Growth Rate (2024-2033)
2 Home Improvement Hard Goods Market Growth Drivers and Constraints
The growth of the global home improvement hard goods market is influenced by several key factors. One of the primary drivers is the increasing demand for home improvement projects, fueled by rising disposable incomes and a growing middle class in emerging economies. As people’s economic conditions improve, they are more likely to invest in improving their living spaces, driving demand for durable goods.
Another significant driver is the trend towards urbanization, particularly in developing countries. As more people move to urban areas, the demand for housing and infrastructure increases, creating a need for building materials and home improvement products. Additionally, the growing popularity of DIY home improvement projects has led to an increase in demand for tools, hardware, and other related products.
However, the market also faces several challenges. One of the primary limiting factors is the fluctuation in raw material prices, which can significantly impact manufacturing costs and profit margins. Additionally, the market is highly competitive, with numerous players vying for market share. This competition can lead to price wars and reduced profitability for manufacturers.
Another challenge is the impact of macroeconomic factors, such as inflation and economic downturns, which can reduce consumer spending on non-essential items. The COVID-19 pandemic, for example, had a significant impact on the market, disrupting supply chains and reducing consumer confidence. However, the market has shown resilience, with many companies adapting to the new normal by shifting to digital sales channels and focusing on health and safety products.
3 Home Improvement Hard Goods Market Innovations and M&A Activities
The home improvement hard goods market is characterized by continuous technological innovation and strategic corporate activities. Companies are increasingly focusing on developing products that are more sustainable, energy-efficient, and technologically advanced. For example, the development of smart home technologies, such as automated lighting and climate control systems, is transforming the way consumers interact with their homes.
In addition to product innovation, companies are also engaging in strategic mergers and acquisitions to expand their market presence and enhance their product offerings. For instance, Sherwin-Williams completed the acquisition of the European industrial coatings business of Sika AG in 2022, expanding its presence in the European market. Mohawk Industries also announced the acquisition of Vitromex in 2022, strengthening its position in the Mexican ceramic tile market.
These strategic moves are aimed at leveraging the strengths of different companies to create synergies and drive growth. By combining resources and expertise, companies can better meet the evolving needs of consumers and stay competitive in a rapidly changing market.
In conclusion, the global home improvement hard goods market is poised for steady growth, driven by increasing demand, technological advancements, and strategic corporate activities. While challenges such as raw material price fluctuations and economic uncertainty persist, the market’s resilience and adaptability offer promising prospects for future development.
4 Global Home Improvement Hard Goods Market Analysis by Type
In 2024, the global home improvement hard goods market is projected to see a significant increase in value, reaching $967,204 million USD. This growth is driven by various segments, each contributing to the overall market expansion. Building materials are expected to hold the largest market share, with a value of $349,553 million USD, accounting for approximately 36.16% of the total market. Plumbing supplies will also play a crucial role, contributing $250,740 million USD and holding a market share of 25.94%. Electrical supplies will add $139,219 million USD to the total, with a market share of 14.40%. Hardware and fasteners are anticipated to contribute $88,601 million USD, holding a market share of 9.17%. Lastly, paint and finishes will contribute $118,909 million USD, with a market share of 12.29%. These figures highlight the diverse and dynamic nature of the home improvement hard goods market, with each segment playing a vital role in driving overall growth.
Table Global Home Improvement Hard Goods Market Size and Share by Type in 2024
Type | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Building Materials | 349553 | 36.16% |
Plumbing Supplies | 250740 | 25.94% |
Electrical Supplies | 139219 | 14.40% |
Hardware and Fasteners | 88601 | 9.17% |
Paint and Finishes | 118909 | 12.29% |
Others | 20182 | 0.04% |
5 Global Home Improvement Hard Goods Market Analysis by Application
In 2024, the global home improvement hard goods market is projected to reach a value of $967,204 million USD. The distribution of this market value across different sales channels is as follows:
Specialty Stores are expected to hold the largest market share, contributing $476,724 million USD, which accounts for approximately 49.27% of the total market value.
Digital Sales will continue to grow rapidly, contributing $161,488 million USD and holding a market share of 16.70%.
Physical Homeware Stores will contribute $257,227 million USD, representing 26.60% of the total market value.
Other Channels will account for the remaining 7.43%, contributing $71,765 million USD.
These figures highlight the ongoing importance of specialty stores in the home improvement hard goods market, while also underscoring the significant growth potential of digital sales channels.
Table Global Home Improvement Hard Goods Market Size and Share by Application in 2024
Application | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Specialty Stores | 476724 | 49.27% |
Digital Sales | 161488 | 16.70% |
Physical Homeware Stores | 257227 | 26.60% |
Others | 71765 | 7.43% |
6 Global Home Improvement Hard Goods Market Analysis by Region
In 2024, the global home improvement hard goods market is expected to reach a value of $967,204 million USD. The regional distribution of this market value is as follows:
North America is projected to hold the largest market share, contributing $321,032 million USD, which accounts for approximately 33.20% of the total market value.
Europe will contribute $240,769 million USD, representing 24.89% of the total market value.
China is expected to contribute $231,565 million USD, holding a market share of 23.94%.
Japan will contribute $31,698 million USD, accounting for 3.28% of the total market value.
India is projected to contribute $36,459 million USD, representing 3.77% of the total market value.
South America will contribute $42,836 million USD, holding a market share of 4.43%.
Middle East and Africa will contribute $34,750 million USD, accounting for 3.59% of the total market value.
These figures highlight the significant market presence of North America and Europe, while also underscoring the growing importance of emerging markets such as China and India in the global home improvement hard goods industry.
Figure Global Home Improvement Hard Goods Market Share by Region in 2024
7 Top 3 Companies of Global Home Improvement Hard Goods Market
7.1 Lixil Group
Company Introduction and Business Overview:
Lixil Group, established in 1949 and headquartered in Tokyo, Japan, is a leading global provider of housing and building materials. The company operates under several well-known brands, including INAX, Grohe, American Standard, and Tostem. Lixil’s product portfolio spans a wide range of residential and commercial solutions, such as windows, interior and exterior building materials, tiles, entrance doors, and interior fabrics. Additionally, Lixil offers larger systems like unit bathrooms, washstands, toilets, and kitchens. The company’s global presence extends across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region.
Products Offered:
Lixil Group’s product offerings are diverse and comprehensive, covering various aspects of home improvement and construction. Key products include:
Windows and Doors: High-quality window sashes, entrance doors, and exterior building materials designed to enhance the aesthetic and functional aspects of homes and commercial buildings.
Ceramic and Porcelain Tiles: A wide range of tiles for floors, walls, and outdoor living spaces, featuring advanced technologies such as Reveal Imaging® printing and StepWise™ slip-resistance.
Bathroom Fixtures: Comprehensive solutions including toilets, washstands, and unit bathrooms, known for their innovation and design excellence.
Kitchen Solutions: High-quality kitchen systems and components that combine functionality with modern design.
Sales Revenue in the Latest Year:
Lixil Group reported a sales revenue of $12,226 million USD. This figure reflects the company’s strong market position and its ability to maintain robust sales despite global economic challenges. Lixil’s focus on innovation and expanding its global footprint has contributed to its sustained growth in the home improvement hard goods market.
7.2 Sherwin-Williams Company
Company Introduction and Business Overview:
Founded in 1866, Sherwin-Williams is a global leader in the manufacture, development, distribution, and sale of paint, coatings, and related products. Headquartered in Cleveland, Ohio, the company operates under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME®, Dutch Boy®, Krylon®, Minwax®, Thompson’s® Water Seal®, and Cabot®. Sherwin-Williams’ extensive product range caters to professional, industrial, commercial, and retail customers across the Americas, Europe, and Asia.
Products Offered:
Sherwin-Williams offers a comprehensive range of products for various applications, including:
Paints and Coatings: High-quality interior and exterior paints, primers, and specialty coatings designed to meet the diverse needs of residential and commercial customers.
Decorative Paints: Products such as SuperPaint® Interior Acrylic Latex, which combines ease of application, quick drying, and excellent coverage.
Industrial Coatings: Solutions for construction, industrial, packaging, and transportation markets, known for their durability and performance.
Specialty Products: Items like Krylon® aerosol paints, Minwax® wood finishes, and Thompson’s® Water Seal® products for outdoor surfaces.
Sales Revenue in the Latest Year:
Sherwin-Williams reported a sales revenue of $11,396 million USD. This figure underscores the company’s strong market position and its ability to deliver high-quality products that meet the evolving needs of its customers. Sherwin-Williams’ continued investment in research and development, coupled with its extensive distribution network, has enabled it to maintain a competitive edge in the global market.
7.3 Mohawk Industries
Company Introduction and Business Overview:
Established in 1988 and headquartered in Calhoun, Georgia, Mohawk Industries is a leading manufacturer and distributor of flooring products for residential and commercial spaces. The company’s diverse product portfolio includes ceramic and porcelain tiles, vinyl tiles, carpets, laminates, rugs, wood, stone, insulation boards, and sheet vinyl flooring. Mohawk’s global presence extends across North America, Europe, and Asia, with a strong focus on innovation and sustainability.
Products Offered:
Mohawk Industries offers a wide range of flooring solutions, including:
Ceramic and Porcelain Tiles: Products with advanced technologies such as Reveal Imaging® printing and StepWise™ slip-resistance, designed to enhance durability and aesthetic appeal.
Vinyl and Laminate Flooring: High-quality, durable flooring options that mimic the look of natural materials while offering easy maintenance and installation.
Carpets and Rugs: A variety of carpet and rug options for residential and commercial use, known for their comfort and durability.
Wood and Stone Flooring: Products that provide the natural beauty of wood and stone with the added benefits of modern manufacturing techniques.
Sales Revenue in the Latest Year:
Mohawk Industries reported a sales revenue of $10,355 million USD. This figure highlights the company’s strong market position and its ability to deliver innovative and high-quality flooring solutions. Mohawk’s focus on sustainability and continuous product innovation has enabled it to maintain a competitive edge in the global home improvement hard goods market.