Global home improvement retail sales topped EUR 696.5 bn in 2022, growing by around 10.4 per cent compared to 2021. The figure is taken from the new Home Improvement Report Retail Worldwide, which was produced in close cooperation between the global trade and manufacturers’ associations EDRA/GHIN, HIMA and publishing house Dähne Verlag. The new report will be published in 2023 by Dähne Verlag for the first time.
As in previous years, the North American region accounted for the majority of global turnover in the home improvement trade in 2022 with over EUR 336 bn (around 48 per cent of global market share). For the first time, the Asia/Pacific region landed in second place with over EUR 181 bn (around 26 per cent global market share), ahead of Europe, which came in at over EUR 158 bn (around 23 per cent global market share). The world regions Latin America with over EUR 14 bn (around 2 per cent world market share) and Africa/Middle East with over EUR 5.6 bn (around 1 per cent world market share) follow at a great distance.
John Herbert, General Secretary of EDRA/GHIN, shared “we feel very proud that, in cooperation with HIMA and Dähne Publishing House, we have been able to produce the most detailed information on our fascinating industry. The report gives an excellent overview of the world of home improvement and is an essential reference point for any industry stakeholders.”
Piet De Coninck, general manager of HIMA, the international suppliers’ network, shares the vision “that we may be proud to be able to produce such a report with three parties, EDRA/GHIN, Dähne Verlag and HIMA. To conclude with the words of some of HIMA’s members presenting in our latest webinars giving an overview of the content of this global Home Improvement Report: ‘A more than valuable overview, a must study for all companies with international business ambitions.'”
The new report will be published on 10 October. On about 300 pages, it contains a detailed analysis of the home improvement market in 61 countries as well as on the top 20 companies worldwide. According to the authors, this is a unique compilation so far. Also included are analyses of the five world regions as well as illustrations of inflation trends and a new management summary. For the analysis, the statistics experts of Dähne Verlag evaluated the turnover of 479 companies from the worldwide home improvement retail. Added to this was information on the number of locations of 629 and on sales areas of 258 companies worldwide.
“We are very proud to be able to provide the global home improvement industry with a transparent and solid set of figures with this new report,” explains Michael Greiner, editor in charge of the new Home Improvement Report. “Reliability and comprehensibility were our focus: for the reported turnover, we can either trace each figure back to a source or make our own estimates and calculations transparent,” says Greiner. For more than 58 per cent of all reported company sales, the values are available directly from the companies.
For the new report, the turnover for DIY stores (hardware stores, home improvement stores, home stores), the building materials retail and furnishing stores (excluding the classic furniture trade) was summarised under the home improvement market. In addition, the turnover for the so-called DIY market, which covers the turnover of the DIY stores, is shown in the 61 countries surveyed. For the first time, the new report includes a source-based, market-describing figure for the People’s Republic of China.
“Even though we are able to present a resilient picture of the home improvement industry, it became clear during research that the quality of the data basis varies greatly around the world,” says Rainer Strnad, editor-in-chief of the international online magazine diyinternational.com and the German-language diy-Fachmagazin. In order not to simply leave out the unknown parts from the overall picture, a data model was developed for the first time for the new report that describes in detail the calculated home improvement market for 191 countries based on gross national product and the human development index as well as an empirical index value from the German and European home improvement market. According to this data model, the calculated global home improvement market in 2022 is expected to have a volume of EUR 1.376 trillion in 2022.
“The new report is the first of a new kind,” says Michael Greiner. “We have decided to clearly separate what we know about the global industry and what we do not know. In the coming years, we will continue to work on pushing back the unknown white spots. But hopefully readers will already appreciate the new model, the broader data base and greater transparency.”