Lowe's & Home Depot
Home Depot and Lowe's are the two dominant US home improvement retailers, collectively commanding approximately 85% of the professional and DIY home improvement market. Home Depot leads with $164.7B in FY2025 revenue versus Lowe's $84B, driven by Home Depot's superior penetration of professional (Pro) contractors who account for 50%+ of Home Depot's sales.
Why it matters: The US home improvement market is $650B+ annually, driven by housing turnover, renovation activity, and commercial construction. Home Depot and Lowe's occupy essentially every large format home improvement retail location in the US with roughly 2,000 stores each, creating a duopoly where location and contractor relationships determine market share.