The ASEAN home improvement market is projected to grow to $14.20 billion by 2028, driven by urbanization and increasing disposable income, despite challenges like labor shortages and economic slowdown.
The ASEAN home improvement market is projected to grow to USD 14.20 billion by 2028, with a compound annual growth rate (CAGR) of 9.24% from 2024 to 2028. Growth drivers include population increase, rising house prices, urbanization, and favorable demographics, while challenges encompass labor shortages and economic downturns.
Key regions in the market include Indonesia, Thailand, Malaysia, Philippines, and Singapore. Indonesia currently holds the largest market share, followed by Thailand. In Singapore, categories such as bathroom and sanitaryware, home paint, and hardware lead sales.
The comprehensive report details market dynamics, insights by region, and profiles of major players like Ace Hardware Indonesia and Mr. D.I.Y. Group. For more information, visit ResearchAndMarkets.com.
Source : Rising Trend of Freelancing, Increase in Work from Home & Growing Popularization of DIY
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