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The ASEAN home improvement market is forecasted to reach US$10.90 billion in 2025, experiencing growth at a CAGR of 9.22% during the period spanning from 2021 to 2025. Growth in the ASEAN home improvement market was supported by factors such as increasing population in ASEAN countries, skyrocketing house prices, rapid urbanization and favorable demographic structure. Rising e-commerce penetration and increase in work from home and freelancing jobs is likely to have a positive impact on the ASEAN home improvement market. However, the market growth is expected to be restrained by shortage of labor and economic slowdown.
The ASEAN home improvement market can be segmented into the following regions: Indonesia, Thailand, Malaysia, Philippines and Singapore. In 2020, the dominant share of ASEAN home improvement market was held by Indonesia, followed by Thailand. The Singapore home improvement market by category can be segmented into the following categories: bathroom and sanitary ware, home paint, hardware, kitchen sinks, power tools, wall coverings, and hand tools. The largest share of the market was held by bathroom, followed by home paint and hardware.
The ASEAN home improvement market by retail space per capita can be segmented into the following regions: Indonesia, Thailand, Malaysia, Philippines and Singapore. In 2020, the dominant share of home improvement retail space per capita was held by Malaysia, followed by Thailand. Factors such as unaffordable home loans and rising disposable income in ASEAN countries helped in boosting the market growth.
Scope of the report:
- The report provides a comprehensive analysis of the ASEAN home improvement market with potential impact of COVID-19.
- The major regional markets (Indonesia, Thailand, Malaysia, Philippines and Singapore) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Ace Hardware Indonesia, Dairy Farm International Holding Limited, Siam Global House Public Company Limited, Home Product Center Public Company Limited, Mr D.I.Y. Group and AllHome Corp.) are also presented in detail.
Key Target Audience:
- Home Improvement Manufacturers
- Raw Material Providers
- End Users (Businesses/Consumers)
- Investment Banks
- Government Bodies & Regulating Authorities