Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) — The “ASEAN Home Improvement Market (Indonesia, Singapore, Philippines, Thailand & Malaysia): Insights & Forecast (2024-2028)” report has been added to ResearchAndMarkets.com’s offering.
The ASEAN home improvement market is forecasted to reach US$14.20 billion in 2028, experiencing growth at a CAGR of 9.24% during the period spanning from 2024 to 2028.
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 2023, 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 sanitaryware, 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 2023, 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.
- 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, Siam Global House Public Company, Home Product Center Public Company, Mr D.I.Y. Group and AllHome Corp. – are also presented in detail.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 82 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $9.97 Billion |
| Forecasted Market Value (USD) by 2028 | $14.2 Billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1. Market Overview
1.1 Home Improvement
1.2 Types of Home Improvement
1.3 Products Used in the Home Improvement
1.3.1 Building and Remodeling
1.3.2 Home Decor
1.3.3 Tools and Hardware
1.3.4 Outdoor Living
1.4 Types of Home Improvement Projects
1.4.1 DIFM Home Improvement Project
1.4.2 DIY Home Improvement Project
1.5 Advantages of Home Improvement Projects
1.6 Disadvantages of Home Improvement Projects
2. Impact of COVID-19
2.1 Impact of COVID-19 on Home Improvement Market
2.2 Decline in GDP Growth
2.3 Decrease in Labor Supply
2.4 Growth in E-commerce Market
2.5 Shift to Work from Home
2.6 Post-COVID Scenario
3. ASEAN Market Analysis
3.1 ASEAN Home Improvement Market by Value
3.2 ASEAN Home Improvement Market Forecast by Value
3.3 ASEAN Home Improvement Market by Region
3.4 ASEAN Home Improvement Market by Spending Per Capita
3.5 ASEAN Home Improvement Market by Retail Space Per Capita
3.6 ASEAN Home Improvement Market by Stores Per Million People
4. Regional Analysis
4.1 Indonesia
4.2 Thailand
4.3 Malaysia
4.4 Philippines
4.5 Singapore
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Accelerating Population Growth
5.1.2 Skyrocketing House prices
5.1.3 Unaffordable Home Loans
5.1.4 Rapid Urbanization
5.1.5 Favorable Demographic Structure
5.1.6 Rising Disposable Income
5.2 Key Trends & Developments
5.2.1 Rising E-commerce Penetration
5.2.2 Rising Trend of Freelancing
5.2.3 Technologically Advanced Home Improvement Products
5.2.4 Increase in Work from Home Jobs
5.2.5 Popularization of Do-It-Yourself (DIY)
5.3 Challenges
5.3.1 Economic Slowdown
5.3.2 Shortage of Labor
6. Competitive Landscape
6.1 Thailand Market
6.2 Indonesia Market
6.3 Philippines Market
7. Company Profiles
- 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
- AllHome Corp.
For more information about this report visit https://www.researchandmarkets.com/r/okv1oo
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- ASEAN Home Improvement Market
