Homes of the World: A Global Look at Home Improvement Spending

Household living space investments symbolize a significant portion of the nation’s economy, and the global home improvement market has leveraged excellent growth results in recent years, especially post-COVID-19. 

Despite the recent spike in inflation (influencing the growth rate), consumers in the home improvement market worldwide continue to invest in making their homes more functional and attractive. 

In order to come up with the very specific design ideas, we create most designs with the assistance of state-of-the-art AI interior design software.

To examine the statistics, we’ve segmented global home improvement spending into thirteen categories: home entertainment, major appliances, and smart appliances, producing fascinating results. 

These findings provide an engaging snapshot of various cultural, technological, and economic factors driving home improvement spending worldwide. They highlight the universality of the desire to enhance living spaces while showcasing regional differences that add complexity and depth to the global market.

Key Findings:

• China and the US are the global leaders in total spending on home improvement and household items, with China spending 994.542 billion USD and the US spending 932.771 billion USD.
• The hardware and DIY tools sector has the highest spending in China (711.1 billion USD) and the US (601.8 billion USD), showcasing a common interest in personalizing living spaces.
• There are also emerging markets stepping up: India has a total spending of 286.851 billion USD, primarily driven by major appliances and hardware/DIY tools. This is a reflection of rapid urbanization and a growing middle class.
• Smart security’s emerging trend: Countries like the US and Japan are spending 5.43 billion USD and 993.1 million USD, respectively, highlighting an increasing interest in integrating safety with technology.
• European countries value quality and design: Norway, Switzerland, Sweden, Iceland, Netherlands, and Austria all feature in the top ten for per capita spending, ranging from 2164.64 USD to 1645.26 USD.
• Hardware and DIY tools dominate per capita spending: Countries like New Zealand, Norway, Switzerland, Sweden, and Canada prioritize this category, indicating a strong global trend of personalizing and enhancing living spaces.
• The emerging luxury market in the Middle East: Qatar, a rapidly developing economy, shows a per capita spending of 1590.32 USD, leaning towards modern convenience and upscale living.

These findings reveal global patterns in home improvement and household spending, illustrating the unique blend of cultural, economic, and technological influences shaping consumer behaviors across different regions.

A Global Look at Home Improvement Spending

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Top 10 Countries by Total Spending

The list of the top ten countries that spend the most on home improvement presents a diverse picture. Although economic giants like China and the United States lead the way, the list also highlights the growing influence of emerging markets such as India. In addition, the universal interest in areas like DIY tools shows a common desire to make living spaces more personal. 

This data presents global trends and national priorities, highlighting the world’s commitment to enhancing home living, each region with unique spending patterns that offer intriguing glimpses into its growth, consumer behaviors, and cultural values.

1. China

China is leading the global home improvement market with a total spending of 994.542 billion USD, demonstrating aggressive growth. The hardware and DIY tools sector dominates with 711.1 billion USD, closely followed by major appliances at 95.69 billion USD. The investment in smart appliances (13.85 billion USD) is a testament to the ongoing technological revolution in Chinese households.

• Home Entertainment Spending: 40.251 billion USD
• Major Appliances Spending: 95.69 billion USD
• Smart Appliances Spending: 13.85 billion USD
• Hardware and DIY Tools Spending: 711.1 billion USD
• Total Spending: 994.542 billion USD

2. United States

With total spending reaching 932.771 billion USD, the US showcases a rich blend of technology and tradition. Home entertainment (41.468 billion USD) and hardware and DIY tools (601.8 billion USD) are key focus areas. The smart security market, at 5.434 billion USD, represents a growing interest in safety and technology.

• Home Entertainment Spending: 41.468 billion USD
• Major Appliances Spending: 29.73 billion USD
• Smart Security Spending: 5.434 billion USD
• Hardware and DIY Tools Spending: 601.8 billion USD
• Total Spending: 932.771 billion USD

3. India

India’s total spending of 286.851 billion USD reflects rapid urban growth and rising middle-class prosperity. Major appliances (45.23 billion USD) and hardware and DIY tools (201.8 billion USD) dominate the market, highlighting the demand for urbanization and infrastructure.

• Home Entertainment Spending: 7.301 billion USD
• Major Appliances Spending: 45.23 billion USD
• Smart Security Spending: 683.5 million USD
• Hardware and DIY Tools Spending: 201.8 billion USD
• Total Spending: 286.851 billion USD

4. Japan

Japan’s market, totaling 157.329 billion USD, leans toward technological innovation. Home entertainment (11.913 billion USD) and smart security (993.1 million USD) are the main areas of focus, influenced by an aging population and a strong emphasis on technology.

• Home Entertainment Spending: 11.913 billion USD
• Major Appliances Spending: 16.39 billion USD
• Smart Security Spending: 993.1 million USD
• Hardware and DIY Tools Spending: 99.87 billion USD
• Total Spending: 157.329 billion USD

5. Germany

With 120.052 billion USD in total spending, Germany represents a balanced market. Home entertainment (8.7529 billion USD) and major appliances (7.25 billion USD) play significant roles, indicating an equilibrium between traditional housing needs and new technological desires.

• Home Entertainment Spending: 8.7529 billion USD
• Major Appliances Spending: 7.25 billion USD
• Smart Security Spending: 653.1 million USD
• Hardware and DIY Tools Spending: 48.89 billion USD
• Total Spending: 120.052 billion USD

6. France

France’s spending, totaling 76.8107 billion USD, emphasizes aesthetics and functionality. Major appliances (5.82 billion USD) and hardware and DIY Tools (36.88 billion USD) drive the market, focusing on decorative and functional aspects.

• Home Entertainment Spending: 6.4885 billion USD
• Major Appliances Spending: 5.82 billion USD
• Smart Security Spending: 272.2 million USD
• Hardware and DIY Tools Spending: 36.88 billion USD
• Total Spending: 76.8107 billion USD

7. Brazil

A young, tech-savvy population in Brazil leads to total spending of 76.2959 billion USD. Home entertainment (8.074 billion USD) and major appliances (15.820 billion USD) demonstrate growth, reflecting urbanization and modern lifestyles.

• Home Entertainment Spending: 8.0748 billion USD
• Major Appliances Spending: 15.82 billion USD
• Smart Security Spending: 208.5 million USD
• Hardware and DIY Tools Spending: 31.56 billion USD
• Total Spending: 76.295 billion USD

8. United Kingdom

The UK blends heritage and innovation, with total spending of 75.4074 billion USD. Traditional hardware and DIY tools (31.64 billion USD) meld with modern smart security (897.8 million USD), showcasing a diversified market.

• Home Entertainment Spending: 10.461 billion USD
• Major Appliances Spending: 5.14 billion USD
• Smart Security Spending: 897.8 million USD
• Hardware and DIY Tools Spending: 31.64 billion USD
• Total Spending: 75.4074 billion USD

9. Indonesia

Indonesia’s focus on expansion, totaling 75.114 billion USD in spending, emphasizes major appliances (12.08 billion USD) and hardware (50.59 billion USD). This alignment reflects rapid urban growth and modernization of homes.

• Home Entertainment Spending: 2.998 billion USD
• Major Appliances Spending: 12.08 billion USD
• Smart Security Spending: 60.32 million USD
• Hardware and DIY Tools Spending: 50.59 billion USD
• Total Spending: 75.114 billion USD

10. Canada

Canada’s balanced market, with total spending of 67.165 billion USD, demonstrates stability across home entertainment (4.006 billion USD), major appliances (2.9 billion USD), and hardware (39.64 billion USD), reflecting a comprehensive approach to home improvement.

• Home Entertainment Spending: 4.006 billion USD
• Major Appliances Spending: 2.9 billion USD
• Smart Security Spending: 382.3 million USD
• Hardware and DIY Tools Spending: 39.64 billion USD
• Total Spending: 67.165 billion USD

Top 10 Countries by Per Capita Spending

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Analyzing per capita spending provides an intimate view of individual consumption patterns. These trends also reflect economic status, personal preferences, lifestyle, and cultural influences.

This section will explore the top ten countries’ per capita spending on home improvement and household items. From high-income nations like Switzerland to rapidly developing economies like Qatar, these figures shed light on how citizens across the globe are investing in their living spaces.

1. New Zealand

New Zealand significantly leads in per capita spending, with a strong focus on hardware and DIY tools. These numbers highlight a culture that invests in home customization and reflects a lifestyle that embraces indoor and outdoor living.

• Home Entertainment Spending: 513.56 million USD
• Major Appliances Spending: 590 million USD
• Smart Security Spending: 22.36 million USD
• Hardware and DIY Tools Spending: 13.5 billion USD
• Total Spend: 16.776 billion USD
• Spent per Capita: 3235.39 USD

2. United States

The United States displays a diverse and robust home improvement market, with total spending reaching 9.327 billion USD and per capita spending at 2757.31 USD. Investments are distributed across various categories, with home entertainment spending at 41.468 billion USD, major appliances at 29.730 billion USD, smart security at 5.434 billion USD, and hardware and DIY tools commanding a significant 601.8 billion USD. These patterns showcase a blend of technological advancement and a strong housing market, reflecting the nation’s keen interest in traditional home improvements and modern innovations.

• Home Entertainment Spending: 41.468 billion USD 
• Major Appliances Spending: 29.73 billion USD 
• Smart Security Spending: 5.434 billion USD
• Hardware and DIY Tools Spending: 601.8 billion USD
• Total Spend: 932.771 billion USD
• Spent per Capita: 2757.31 USD

3. Norway

Norway’s data emphasizes quality, with a per capita spending of 2164.64 USD. Major appliances (710 million USD) and hardware and DIY tools (6.18 billion USD) lead the spending patterns, revealing a high standard of living and a focus on quality and durability.

• Home Entertainment Spending: 635.12 million USD
• Major Appliances Spending: 710 million USD
• Smart Security Spending: 120.4 million USD 
• Hardware and DIY Tools Spending: 6.18 billion USD
• Total Spend: 11.763 billion USD
• Spent per Capita: 2164.64 USD

4. Switzerland

Switzerland exhibits a balanced approach with a per capita spending of 2014.91 USD. Investments are spread across home entertainment (1.089 billion USD), major appliances (660 million USD), smart security (107.5 million USD), and hardware (9.770 billion USD), reflecting an appreciation for both aesthetics and functionality.

• Home Entertainment Spending: 1.089 billion USD
• Major Appliances Spending: 660 million USD
• Smart Security Spending: 107.5 million USD
• Hardware and DIY Tools Spending: 9.770 billion USD
• Total Spend: 17.611 billion USD
• Spent per Capita: 2014.91 USD

5. Sweden

Sweden’s per capita spending of 1810.61 USD mirrors its cultural affinity for design and innovation. The balance across home entertainment (1.329 billion USD), major appliances (650 million USD), smart security (160.6 million USD), and hardware (8.51 billion USD) highlights a blend of style and substance.

• Home Entertainment Spending: 1.329 billion USD
• Major Appliances Spending: 650 million USD
• Smart Security Spending: 160.6 million USD
• Hardware and DIY Tools Spending: 8.51 billion USD
• Total Spend: 19.1 billion USD
• Spent per Capita: 1810.61 USD

6. Iceland

With a per capita spending of 1747.12 USD, Iceland’s investment in hardware and DIY tools (340 million USD) is particularly significant. This pattern reflects a culture that values self-reliance and personalization, with lesser emphasis on smart security at just 3.17 million USD.

• Home Entertainment Spending: 33.96 million USD
• Major Appliances Spending: 40 million USD
• Smart Security Spending: 3.17 million USD
• Hardware and DIY Tools Spending: 340 million USD
• Total Spend: 651.5 million USD
• Spent per Capita: 1747.12 USD

7. Canada

Canada’s spending pattern places the focus on comfort and innovation, with a per capita spending of 1746.63 USD and significant investments in home entertainment (4.006 billion USD), major appliances (2.9 billion USD), and hardware and DIY tools (39.64 billion USD).

• Home Entertainment Spending: 4.006 billion USD
• Major Appliances Spending: 2.9 billion USD
• Smart Security Spending: 382.3 million USD
• Hardware and DIY Tools Spending: 39.640 billion USD
• Total Spend: 67.165 billion USD
• Spent per Capita: 1746.63 USD

8. Netherlands 

Netherlands prioritizes both design and technology, with a per capita spending of 1660.63 USD and investments across home entertainment (2.05 billion USD), major appliances (1.62 billion USD), smart security (202.7 million USD), and hardware (13.79 billion USD).

• Home Entertainment Spending: 2.05 billion USD
  Major Appliances Spending: 1.62 billion USD 
• Smart Security Spending: 202.7 million USD
• Hardware and DIY Tools Spending: 13.79 billion USD 
• Total Spend: 29.167 billion USD
• Spent per Capita: 1660.63 USD 

9. Austria

Austria’s per capita spending of 1645.26 USD reflects a blend of traditional and modern preferences. Investments in both hardware (6.69 billion USD) and home entertainment (895.77 million USD) signify a balance between home craftsmanship and technological enjoyment.

• Home Entertainment Spending: 895.77 million USD
• Major Appliances Spending: 810 million USD
• Smart Security Spending: 79.33 million USD
• Hardware and DIY Tools Spending: 6.69 billion USD
• Total Spend: 14.708 billion USD
• Spent per Capita: 1645.26 USD

10. Qatar

Qatar’s per capita spending of 1590.32 USD shows a market leaning towards modern convenience and upscale living, with significant investments in home entertainment (174.35 million USD) and major appliances (320 million USD).

• Home Entertainment Spending: 174.35 million USD
• Major Appliances Spending: 320 million USD
• Smart Security Spending: 19.22 million USD
• Hardware and DIY Tools Spending: 2.68 billion USD
• Total Spend: Total Spend: 4.286 billion USD
• Spent per Capita: 1590.32 USD

The trends and patterns in home improvement spending across the world’s top countries offer a rich and multifaceted insight into global living preferences and economic behaviors. With clear trends in areas like hardware and DIY tools and distinctions between developed and emerging markets, the data provides a snapshot of cultural values and economic narratives. This analysis could be a foundational guide for industry stakeholders, policymakers, and anyone keen to understand the world’s evolving home living landscape.

General Observation

The global home improvement market combines developed and emerging markets, revealing contrasts between traditional consumer behaviors and dynamic growth. Smaller affluent countries emphasize quality and innovation, adding complexity to the global landscape.

Countries like the United States and Canada highlight mature consumer markets with broad investment across different home improvement categories.

Countries like China and India show middle-class consumers’ growth and increasing spending power. Even Indonesia has made the top 10 with spending of 75.11 billion USD.

Common Threads

Despite the cultural differences, some universal trends are apparent:

Hardware and DIY Tools Spending: This spending aligns with a global push towards personalized living spaces, self-reliance, and sustainability.

Home Entertainment and Smart Appliances: These areas are popular in developed nations, which shows a shift towards tech-integrated living and modern conveniences.

Major Appliances in Emerging Markets: The focus on essential appliances in developing countries underscores a move toward improved living standards.

This global outlook on home improvement spending paints a complex and fascinating picture. From China’s total spending dominance to New Zealand’s individualistic approach, the focus on technology, comfort, and customization reveals something unique that different cultures have in common. Whether for investments, comfort, or technological advancements, home improvement is a growing sector that reflects our evolving needs and preferences, showing how economies, cultures, and personal choices intertwine and providing an insightful glimpse into the future of global living.

Methodology

In this study, we assessed the spending data of 149 countries since 2022, focusing on various home improvement categories. The study aimed to create a ranking that would provide insights into each country’s performance in the home sector based on their spending patterns for different aspects of home improvement.

To create the ranking, we added the spending figures for each country across all the above home appliance categories. The countries were then ranked in descending order based on their total home improvement spending The higher the spending generated from home appliances, the higher the country’s ranking.

The market sizes presented here are derived from a top-down analytical approach tailored to each market segment based on specific reasoning. This involves leveraging data from national statistical offices, international institutions, proprietary market research, and resources from the Statista platform. To refine the assessment, we used pertinent key market indicators and data from country-specific associations, such as consumer spending and GDP data. This holistic approach enables us to estimate each country’s market size.

Additional Information:

The market dataset is refreshed biannually to account for any shifts in market dynamics. Furthermore, the dataset takes into account the specific impact of the COVID-19 pandemic at the level of each country.