Vietnam Home Improvement Market Size (2024 - 2029)

The Vietnam home improvement market is experiencing significant expansion driven by factors such as increased disposable incomes, the recovery of the real estate sector, and heightened urbanization. This growth is characterized by a rising number of new households and a growing consumer inclination towards modern, aesthetically pleasing home products. The market's expansion is further supported by the demand for renovations that enhance comfort, energy efficiency, and safety, reflecting a broader trend of increased spending on home improvement projects.

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Market Size of Vietnam Home Improvement Industry

Vietnam Home Improvement Market Summary
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

Vietnam Home Improvement Market 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 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
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Vietnam Home Improvement Market Size Summary

The Vietnam home improvement market is experiencing robust growth, driven by factors such as rising disposable incomes, urbanization, and a recovering real estate sector. This market encompasses a wide range of activities, including renovations for comfort, maintenance, and energy efficiency, as well as enhancements to outdoor spaces like gardens and garages. The trend towards modernizing homes with appealing finishes is further propelling market expansion. As urbanization leads to the establishment of new households, the demand for home improvement projects is expected to rise, supported by increased spending on contemporary household products.

The DIY segment is a significant contributor to the market's growth, fueled by the proliferation of DIY stores and the availability of tools and equipment online. Consumers' skills in undertaking home improvement tasks, along with smart home improvement kits offered by manufacturers, are key drivers of this segment. The market is characterized by the presence of major international players, but technological advancements and product innovations are enabling mid-size and smaller companies to expand their market presence. This competitive landscape is marked by active investments in research and development to enhance product offerings and meet the evolving demands of consumers.

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Vietnam Home Improvement Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain / Supply Chain Analysis

    5. 1.5 Porters 5 Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Impact of Covid-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 Project

      1. 2.1.1 DIY

      2. 2.1.2 DIFM

    2. 2.2 Type

      1. 2.2.1 Kitchen Improvement & Additions

      2. 2.2.2 Bath Improvement & Additions

      3. 2.2.3 System Upgrades

      4. 2.2.4 Exterior Replacements

      5. 2.2.5 Interior Replacements

      6. 2.2.6 Property Improvements

      7. 2.2.7 Disaster Repairs

      8. 2.2.8 Other Room Additions & Alterations

Vietnam Home Improvement Market Size FAQs

The Vietnam Home Improvement Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)

Andersen Corporation, DuPont Building Innovations, Kohler, 3M Vietnam Co. Ltd and Rockwool are the major companies operating in the Vietnam Home Improvement Market.

Vietnam Home Improvement Market Report Snapshots

Vietnam Home Improvement Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)