Global home improvement market shrank by 1.9 percent in 2024

The global home improvement market shrank by 1.9 percent in 2024. The main reason for this development is the market trend in China. While the country had saved the global market from a more severe decline in 2023, it is now pushing the entire Asia/Pacific region and the global market into negative territory with a decline of 15.4 percent.

The figures are taken from the new edition of the Home Improvement Report Retail Worldwide, which was published on October 10. The figures for the international home improvement and DIY industry are published by Dähne Verlag and were once again compiled in collaboration with the global trade associations Edra/Ghin and the global manufacturers' association Hima.

In contrast to the global trend, nominal sales in the home improvement market in North America and Europe grew slightly in 2024, with increases of 1.6 percent and 1.2 percent respectively. Without the sharp decline in China, the global home improvement market would have grown by 1.5 percent in 2024. In 2023, global sales had already shrunk by 4.6 percent, with the Chinese market protecting the international home improvement industry from an even sharper decline.

The DIY market segment, which exclusively comprises home centers, hardware stores and DIY retailers, performed slightly better than the home improvement market in 2024. Globally, the DIY market grew by 0.7 percent, with growth of 1.0 percent in North America and Europe and only a slight decline of 0.4 percent in the Asia/Pacific region.

In contrast to the DIY market, the larger home improvement market also includes building materials retailers and furnishing retailers with a DIY character, but not pure furniture retailers.

“We are pleased to be able to provide the international industry with a comprehensive market overview again this year,” explains Reinhard Wolff, President of the international manufacturers' association Hima. “We are undoubtedly in challenging times, in which reliable data and figures are essential as a guideline for all involved,” says Wolff.

“The figures compiled in collaboration with Dähne Verlag show that last year was a demanding one for the international industry, which faced challenges and, in some cases, strong headwinds,” says John W. Herbert, General Secretary of the international DIY trade association Edra/Ghin (European Home Improvement Association / Global Home Improvement Network). “It is encouraging that, after the recent sharp declines in 2023, there are clear signs of recovery and renewed growth,” said Herbert.

Michael Greiner, editor at Dähne Verlag and responsible for publishing the report, takes a similar view: “After the slump in 2023, the global home improvement market can be said to have stabilized in 2024. Even though the bottom line for 2024 is negative, it must be acknowledged that several retailers worldwide were able to return to stable growth and that the developed markets in North America and Europe were able to grow slightly.” According to Greiner, it remains exciting to see how the current year 2025 will develop. The expert says that the figures for 2024 show that the industry continued to struggle worldwide in 2024 with the effects of increased inflation and partial declines in the construction sector. The former would have pushed the partly low nominal national growth rates back into negative territory in real terms.

Changes and innovations in the new edition

“Special thanks again go to our partners in the association and the many companies worldwide who contributed to the creation of the new report by providing their figures,” explains John W. Herbert.

The new edition of the Home Improvement Report analyzes the global market based on data from 632 retail chains worldwide, of which 514 have national sales figures available. New features include a presentation of national developments in the respective local currency to offset distorting currency effects, as well as a revision of the data model for the calculated home improvement market. In addition to the 514 global sales figures of retailers, this provides a basis for projections based on index values, gross domestic product, and the respective level of development of a country.

“After discussions with experts and consultation with the associations, for which we are very grateful, we have decided to make an adjustment,” explains Michael Greiner. “The core of the change is that the calculation is now based on the fact that the share of home improvement spending in gross domestic product is higher in developing countries than in developed industrialized countries.” The hope is to be able to present a better picture of the respective national market volume, even if this is based on calculations due to the continued existence of many unknown sales figures, explains Greiner. According to the new calculations, China is now the largest national market in the home improvement sector with an estimated €612 billion, followed by the US with €426 billion, India with €223 billion, and Japan with €95 billion.

Obtaining the report and data collection

The new Home Improvement Report Retail Worldwide comprises more than 340 pages and has now been compiled for the third year in a row in close cooperation between global trade (Edra/Ghin) and industry associations (Hima) and Dähne Verlag. The 2025 report is based on figures from 632 home improvement retail chains in more than 70 countries worldwide, providing a unique overview of developments in the global DIY sector.

In addition to the new Home Improvement Report Retail Worldwide, Dähne Verlag has also published the underlying data collection Home Improvement Retailers Worldwide in European and global versions. This examines 660 retail companies worldwide in detail in terms of sales, locations, and sales areas, and provides an overview of each home improvement company's international distribution channels and corporate networks. The data collection also contains entries on 1,500 management functions of global retail companies and the addresses of their headquarters.

The new Home Improvement Report 2025 and the Home Improvement Retailers 2025 data collection can be ordered individually or as a package from Dähne Verlag and are available to association members via Edra, Ghin, and Hima or their national associations.

Subscription for Hima members: jasmin.menten@himanetwork.org