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Vietnam Home Improvement Market Size, Share, Trends, Growth: By Area: Rural, Urban; By Project: DIY, DIFM; By Application: Kitchen Renovation and Additions, Bath Renovation and Additions, Exterior Replacements, Interior Replacements, System Upgrades, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Vietnam Home Improvement Market Outlook
The Vietnam home improvement market size reached approximately USD 3.07 billion in 2023. The market is further projected to grow at a CAGR of 3.4% between 2024 and 2032, reaching a value of USD 4.17 billion by 2032.
Key Trends in the Market
Home improvement, also known as remodelling and home renovation, refers to the activity of altering and enhancing apartments and homes. Home improvements often aim to enhance functionality, value, and comfort of existing homes with the help of upgrades including exterior enhancements and kitchen renovations, among others. Undertaking of such projects allows homeowners to increase the market value of their properties by enhancing the aesthetic appeal of the housing.
- The increasing requirement for efficient storage solutions due to rising rent in urban cities is boosting the Vietnam home improvement market growth. The popularity of DIY home improvement projects is also rising to make the judicious use of compact spaces.
- The rising adoption of integrated home control systems due to increasing disposable incomes is supporting the market expansion. Various homeowners are adopting these systems as they enhance accessibility, safety, and convenience of users by allowing them access to different systems and facilities in the home through a single touch screen panel.
- The easy availability of home improvement equipment across different distribution channels is providing lucrative growth opportunities to the market. The increasing penetration of e-commerce in Vietnam is further boosting the accessibility of home improvement equipment, supporting the market expansion.
- The rising influence of social media is bolstering the market demand. Several major market players are significantly investing in social media marketing, in order to expand their customer base and reach their target audience in a more effective manner.
- The growing implementation of energy efficient materials and products including sustainable building materials, insulated windows, and efficient appliances due to rising environmental consciousness is further supporting the market growth.
Vietnam Home Improvement Market Analysis
On the basis of area, the market is divided into rural and urban. Based on project, the market is bifurcated into DIY and DIFM. On the basis of application, the Vietnam home improvement market segmentation includes kitchen renovation and additions, bath renovation and additions, exterior replacements, interior replacements, and system upgrades, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Kohler Co.
- 3M Co.
- Anderson Corp.
- DuPont de Nemours, Inc.
- Truong Thanh Furniture Corporation
- TTDECOR
- Kaze Vietnam Co., Ltd,
- Others
Market Share by Area
Urban locations are anticipated to account for a significant Vietnam home improvement market share. Due to rapid urbanisation in Vietnam, the investments in the construction sector are increasing, bolstering the requirement for home improvement projects. The increasing penetration of e-commerce platforms in urban locations coupled with exponential increase in population are supporting the growth of the segment. The high cost of living in urban locations is further boosting the requirement for home improvement for enhancing small living spaces.
Market Share by Project
DIY projects are anticipated to witness significant growth over the forecast period. This rising popularity of DIY projects can be attributed to the easy availability of DIY products, equipment, and tools across both online distribution channels and physical stores. DIY also allows customers to save time and money and tailor and customise their projects as per their requirements. The growing availability of smart home improvement kits is further supporting the segment expansion and boosting the Vietnam home improvement market demand.
Competitive Landscape
Kohler Co. is one of the leading manufacturers of plumbing products including sinks, toilets, showers, faucets, and bidets, among others. The company was founded in 1873 and is headquartered in Wisconsin, United States.
3M Co., headquartered in Minnesota, United States, is one of the leading industrial machinery manufacturing companies that was founded in 1902. The company specialises in adhesives, paint protection, passive fire protection, and abrasives, among others.
Anderson Corp. is involved in the manufacture, design, and marketing of premium doors and windows. The company provides design solutions for various styles and are known for delivering affordable and high-quality products.
Other Vietnam home improvement market key players include DuPont de Nemours, Inc., Truong Thanh Furniture Corporation, TTDECOR, and Kaze Vietnam Co., Ltd, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Area |
|
| Breakup by Project |
|
| Breakup by Application |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Home Improvement Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Home Improvement Historical Market (2018-2023)
8.3 Asia Pacific Home Improvement Market Forecast (2024-2032)
8.4 Asia Pacific Home Improvement Market breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Vietnam
8.4.7 Others
9 Vietnam Home Improvement Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Home Improvement Historical Market (2018-2023)
9.3 Vietnam Home Improvement Market Forecast (2024-2032)
10 Vietnam Home Improvement Market by Area
10.1 Rural
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Urban
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Vietnam Home Improvement Market by Project
11.1 DIY
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 DIFM
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Vietnam Home Improvement Market by Application
12.1 Kitchen Renovation and Additions
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Bath Renovation and Additions
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Exterior Replacements
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Interior Replacements
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 System Upgrades
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Kohler Co.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 3M Co.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Anderson Corp.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 DuPont de Nemours, Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Truong Thanh Furniture Corporation
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 TTDECOR
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Kaze Vietnam Co., Ltd,
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Home Improvement Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Home Improvement Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Home Improvement Historical Market: Breakup by Area (USD Billion), 2018-2023
4. Vietnam Home Improvement Market Forecast: Breakup by Area (USD Billion), 2024-2032
5. Vietnam Home Improvement Historical Market: Breakup by Project (USD Billion), 2018-2023
6. Vietnam Home Improvement Market Forecast: Breakup by Project (USD Billion), 2024-2032
7. Vietnam Home Improvement Historical Market: Breakup by Application (USD Billion), 2018-2023
8. Vietnam Home Improvement Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. Vietnam Home Improvement Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 3.07 billion in 2023.
The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4.17 billion by 2032.
The major market drivers include rising requirement for efficient storage solutions and easy availability of home improvement equipment across different distribution channels.
The key trends fuelling the growth of the market include increasing deployment of social media marketing and rising adoption of integrated home control systems.
The major applications include kitchen renovation and additions, bath renovation and additions, exterior replacements, interior replacements, and system upgrades, among others.
The significant home improvement projects include DIY and DIFM.
The key players in the market are Kohler Co., 3M Co., Anderson Corp., DuPont de Nemours, Inc., Truong Thanh Furniture Corporation, TTDECOR, and Kaze Vietnam Co., Ltd, among others.
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