Growth is expected to return to the Canadian home improvement market as over the coming years a number of sectors are expecting to see their sales vastly improve.
The Canadian home improvement industry has been forecast to increase at a compound annual growth rate (CAGR) of 1%, to reach a total market value of C$6 million by 2016.
Growth within the market is expected to be fuelled by the increased focus on DIY and home improvement in Canada, which should help increase sales as Canadians invest more time and money in the maintenance and improvement of their homes.
The leading player in home improvement in Canada during 2011 was paint manufacturer Behr Process Corp. Sold exclusively in Home Depot, Behr is the leading home paint brand in Canada and is known for its extensive range of available colours (over 1800 colours are represented in their paint swatches and samples with over 4000 colours available overall).
The home paint sector is highly competitive, with Behr accounting for the leading share of sales in 2011. With Home Depot as Canada's primary retailer within DIY, home improvement and garden centres, Behr benefits from high consumer traffic and strong brand recognition.
Power tool company DeWalt Industrial Tool Co, the leader in contractor power tools including cordless drills, woodworking tools and professional power tools, witnessed the highest growth in current value sales in 2011 as the company's sales increased by 38%, due to Canadians investing heavily in power tools and accessories for more complicated home improvement projects.
For more information on the Canadian home improvement market, see the latest research: Canadian Home Improvement Market Report
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