LONDON--(BUSINESS WIRE)--The DIY market in Europe was valued at USD 148.9 billion in 2015 and is expected to reach USD 160.6 billion by 2020, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the DIY market in Europe for 2016-2020. To calculate the market size, the report takes into account the revenue generated through retail sales of DIY products purchased from DIY and home improvement stores. The market size considers retail sales only from 28 EU countries.
A number of retailers operating in this sphere are focusing on expanding their businesses, a factor that showcases the DIY market's growth potential for the forecast period. Over the past few years, many retailers expanded geographically, seeking profitability.
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The Australian group called Wesfarmers completed the acquisition of the DIY segment of Home Retail Group, Homebase, for USD 489.6 million to mark its presence in the UK market. Wesfarmers plans to invest USD 720 million into revamping its DIY chain. |
The key leading countries of the DIY market in Europe are as follows:
- Germany
- France
- UK
- Italy
Germany
Germany is the leading market in the DIY segment in Europe. In 2015, the DIY segment played a major role in driving the sales of the home improvement market. In Germany, painting and assembling RTA furniture are the most popular DIY projects. Some of the top retailers in the market are OBI, Bauhaus, Hornbach Baumarkt, and ZEUS.
Germany is also a major market in terms of the total average number of projects planned, which was around 2.7 in 2015. In terms of the average number of tasks, over 10% of the population in the country is confident in doing the tasks themselves.
According to Poonam Saini, a lead analyst at Technavio for retail goods and services, “The population actively engages in DIY projects that range from small house repairs to complex and large projects, which is one of the primary reasons for the high demand for DIY products in the market.”
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France
France is the second-largest market in the DIY segment in Europe. In 2014, the French DIY market was severely affected, mainly due to the low disposable income, low consumer confidence level, and the declining housing market. Thus, the sales of the major players were largely affected.
The market grew partially in 2014 due to the dynamic growth in the number of DIY stores. Continuing with this trend, the French DIY market is expected to register a slow recovery in 2016. Groupe ADEO and Kingfisher are the largest retail chains in the DIY market in France.
UK
The DIY market in the UK was the third-largest market in the DIY segment in Europe. DIY tasks are considered more of a routine rather than a hobby in the country. However, the generational shift where young people are now focusing on do-it-for-me (DIFM) will likely impact the sales of the DIY market in the UK negatively during the forecast period.
The growing aging population in the country and the busy work life of the population, which leaves little or no time for people to engage in DIY activities, are the major challenges for the market's growth in the UK. However, the easy availability of DIY products online can boost the market, as almost 45% of DIY consumers prefer buying home improvement DIY products online. The high labor cost in the country will also lead to end-users shifting to DIY.
Italy
The DIY market in Italy is the fourth-largest market in Europe. The popularity of DIY makes it one of the main growth drivers of the market, as it is the most popular hobby after cooking. “This segment is attracting more consumers as people seek to avoid extra cost that is incurred by paying to third-parties. The economic recession of Europe also compelled the population to adopt cost-cutting measures and focus on DIY activities,” says Poonam.
The Italian DIY market is highly fragmented, where the majority of the share is held by the small domestic operators. Some of the top players in the market include IKEA, Mondo Convenienza, Mercatone Uno, Compa, Chateau D’Ax, and Scavolini. Private labels like Practyl, Luxens, and Merlin compete with large players by adopting a low pricing strategy.
The top vendors in the DIY market in Europe highlighted in the report are:
- ADEO
- Bauhaus
- Hornbach Baumarkt
- Kingfisher
- OBI
Browse Related Reports:
- Global DIY market 2016-2020
- Ready to assemble furniture market in Europe 2016-2020
- Power tools market in Europe 2015-2019
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