: Because increasing numbers of people are seeking to repurpose spaces within their domiciles and improve the environment in which many now work and live, the home improvement industry is witnessing steady growth. So, betting on Lowe (LOW) and The Sherwin-Williams (SHW) could be rewarding. Read on.The home improvement industry has been generating solid growth amid the COVID-19 pandemic as people, forced to spend more time at home, have been motivated to upgrade their living spaces and repurpose existing spaces to make them home offices. Though the economy is reopening at a fast pace, the remote working trend is expected to continue for the foreseeable future, keeping alive the demand for home improvement.
This, along with increasing new home purchases, should keep driving the demand for home improvement products. Indeed, according to Brandessence Market Research, the home improvement market is expected to reach $1155.79 billion by 2026, growing at a 4.5% CAGR .
Because the prospects for the home improvement industry look promising, we think it could be wise to bet on Lowe's Companies, Inc. (NYSE:LOW) and The Sherwin-Williams Company (NYSE:SHW). We believe they are sufficiently financially sound to capitalize on the industry tailwinds.