Vietnam Home Improvement Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 1.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Home Improvement Market Analysis
Home improvement refers to decorating or building small structures that give an enhanced look to an existing home. It includes improvements to lawns, gardens, and outdoor structures, such as gazebos and garages. Home improvements generally include renovations in comfort, maintenance, repair, general servicing tasks, additional space, saving energy, and safety. Home improvement is witnessing a strong growth catalyzed by rising levels of disposable incomes, recovery of the real estate industry, increasing urbanization rates, and rising awareness levels. Rising levels of urbanization have resulted in an increasing number of new households being setup. Increasing spending on home improvement projects owing to inclination towards the installation of modern household products having attractive and appealing finishing is expected to further support the business growth.
Vietnam Home Improvement Market Trends
This section covers the major market trends shaping the Vietnam Home Improvement Market according to our research experts:
Growing Urbanization is Driving the Market
Rapid urbanization accompanied by increasing disposable incomes in the country is propelling the home improvement market. Growing housing prices in populated cities due to rapid urbanization will be fuelling the home improvement market in the forecast period. Moreover, a rise in investment in the construction sector, specifically in the residential and commercial sector, growing population, and urbanization, these factors will increase the growth of the home improvement market. The rapid rise in the urbanization rate coupled with an increase in the penetration on e-commerce channels offering huge discounts will contribute significantly towards the market expansion. Rising levels of urbanization have resulted in an increasing number of new households being setup. The growing population level in urban areas is expected to increase further in the coming years, creating a positive impact on the demand for home improvement products.
DIY Segment in Home Improvement Market
The DIY segment dominated the home improvement market. Aspects such as increasing count of DIY stores along with the easy availability of DIY equipment, appliances, and tool over the online platform will contribute towards the growth of the segment, thereby fueling the product demand. It has been speculated that various industry giants are actively investing in R&D activities with an intent to increase the product assortment and innovation levels whilst adding value to the products. The presence of necessary skills in consumers for carrying out the home improvement work is among the key factors propelling the market growth. Also, manufacturers offer smart home improvement kits to assist DIY consumers. Additionally, the presence of large manufacturers and retailers has led to an increase in the number of DIY projects across the country.
Vietnam Home Improvement Industry Overview
The report covers major international players operating in the Vietnam Home Improvement Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Vietnam Home Improvement Market Leaders
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Andersen Corporation
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DuPont Building Innovations
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Kohler
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3M Vietnam Co. Ltd
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Rockwool
*Disclaimer: Major Players sorted in no particular order
Vietnam Home Improvement Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain / Supply Chain Analysis
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4.5 Porters 5 Force Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Impact of Covid-19 on the Market
5. MARKET SEGMENTATION
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5.1 Project
- 5.1.1 DIY
- 5.1.2 DIFM
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5.2 Type
- 5.2.1 Kitchen Improvement & Additions
- 5.2.2 Bath Improvement & Additions
- 5.2.3 System Upgrades
- 5.2.4 Exterior Replacements
- 5.2.5 Interior Replacements
- 5.2.6 Property Improvements
- 5.2.7 Disaster Repairs
- 5.2.8 Other Room Additions & Alterations
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Andersen Corporation
- 6.2.2 DuPont Building Innovations
- 6.2.3 Kohler
- 6.2.4 3M Vietnam Co. Ltd
- 6.2.5 Rockwool
- 6.2.6 Innoci Viet Nam Co., Ltd
- 6.2.7 Caeser
- 6.2.8 Ambassador Signage & Lighting
- 6.2.9 Truong Thanh
- 6.2.10 Luca Interior Design Company Limited
- 6.2.11 Kaze Interior Design Studio
- 6.2.12 Ttdecor
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
9. DISCLAIMER
Vietnam Home Improvement Industry Segmentation
A complete background analysis of the Vietnam Home Improvement Market, which includes an assessment of the National accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report.
| Project | DIY |
| DIFM | |
| Type | Kitchen Improvement & Additions |
| Bath Improvement & Additions | |
| System Upgrades | |
| Exterior Replacements | |
| Interior Replacements | |
| Property Improvements | |
| Disaster Repairs | |
| Other Room Additions & Alterations |
Vietnam Home Improvement Market Research FAQs
What is the current Vietnam Home Improvement Market size?
The Vietnam Home Improvement Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)
Who are the key players in Vietnam Home Improvement Market?
Andersen Corporation, DuPont Building Innovations, Kohler, 3M Vietnam Co. Ltd and Rockwool are the major companies operating in the Vietnam Home Improvement Market.
What years does this Vietnam Home Improvement Market cover?
The report covers the Vietnam Home Improvement Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Home Improvement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vietnam Home Improvement Industry Report
Statistics for the 2023 Vietnam Home Improvement market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Home Improvement analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
