Canada economy outlook 2013

Canada Home Improvement

May 23, 2019

How Canada’s Eco­nom­ic Out­look Impacts the Home Improve­ment Prod­ucts Market

The Home Improve­ment Research Insti­tute (HIRI) part­nered with IHS Mark­it to devel­op the Cana­di­an Size of the Mar­ket Esti­mates & Fore­casts study focused on high­light­ing the country’s eco­nom­ic out­look and its effect on the home improve­ment prod­ucts market.

In gen­er­al, Cana­da is expe­ri­enc­ing slow and steady growth, and the home improve­ment prod­ucts mar­ket is a direct reflec­tion of that trend.

High­lights include:

  • In 2017, home improve­ment prod­uct sales increased by 10.4%.
  • Both the con­sumer and pro­fes­sion­al mar­kets grew, exceed­ing expec­ta­tions at 14% and 6.7% respectively.
  • Home improve­ment prod­uct sales are fore­cast­ed to con­tin­ue a trend of steady growth in 2019.
  • Con­sumer mar­ket sales are expect­ed to be up by at least 3.9%.
  • The pro­fes­sion­al mar­ket will slow to a growth rate of 2.9%, due in part to its sen­si­tiv­i­ty to inter­est rates.
  • Over the last five years, lawn and gar­den equip­ment and sup­plies and plumb­ing and elec­tri­cal sup­plies have led con­sumer mar­ket sales.
  • Major house­hold appli­ances fin­ished in a close third.
  • The five-year fore­cast projects that these three areas will con­tin­ue to be growth leaders.
  • With slow growth pro­ject­ed in the hous­ing mar­ket over the next few years, pro­fes­sion­al prod­uct mar­ket sales — which rely on res­i­den­tial remod­el­ing and repairs — are expect­ed to slow to a rate of 2.9% in 2019.

For access to more in-depth research and fore­cast­ing for the home improve­ment prod­ucts mar­ket in Cana­da, join HIRI. As a mem­ber, you will have unlim­it­ed access to stud­ies, event reg­is­tra­tion dis­counts, and oth­er perks. JOIN NOW

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