2021 home renovation tools

Global SourcesUpdated on 2023/12/01

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Entering the Year of the Ox with the right tools catalog.

2021 is just around the corner. As the world continues the battle against the COVID-19 pandemic and the negative economic impacts of the widespread lockdowns, trends suggest consumers are turning their attention to DIY repair and renovation projects they can undertake to add to the value of their homes. US-based market research provider Global Market Insights foresees a promising CAGR of 4.5 percent in the home improvement market in the forecast period of 2019 to 2025. Increase in consumer spending on home renovations is cited in their report as one of the key drivers of this trend. Moreover, hardware product retailer Home Depot found in their second-quarter earnings report that consumers are taking on more DIY projects in the midst of the pandemic. These trends could lead to a high demand for the power and hand tools necessary for these projects.

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