Home Depot Market Share Breakdown: Q1 2025 Earnings Call Analysis

Home Depot Market Share: Major Appliances Category
Premium Formats Contribute to Growth

In Q1 2025, Home Depot’s market share saw a slight increase of +0.4 percentage points (ppt) year-over-year (YOY), winning 36.1% of consumer dollars. This maintains their place as second leading retailer for major appliances, coming in behind Lowe’s, who leads the major appliance market with 41.6% dollar share.

Top Major Appliance Retailers: Q1 2025 Dollar Share Split

• Home Depot: 36.1%
• Lowe’s: 41.6%
• Best Buy: 17.9%
• Amazon: 2.7%
• Walmart: 1.6%

Here are the product categories that contributed to Home Depot’s major appliance share in Q1.

Front load washers were a bright spot, driving growth in both unit share (+1.1 ppt) and dollar share (+0.9 ppt).

• At the brand-level, Samsung led the charge, gaining +6.6 ppt in unit share and +6.0 ppt in dollar share.
• LG also saw solid gains, up +5.0 ppt in unit share and +6.3 ppt in dollar share.

Side-by-side refrigerators posted similar strength, with +1.2 ppt in unit share and +0.5 ppt in dollar share.

• Frigidaire led unit gains (+9.2 ppt) and dollar gains (+8.8 ppt).
• Samsung followed with strong momentum.

Bottom mount refrigerators took a hit, with unit share down -4.2 ppt and dollar share down -9.1 ppt. At the brand level, LG and Samsung both lost share in bottom mounts.

Ranges also declined, dropping -1.9 ppt in units and -3.0 ppt in dollars. GE, LG, and others lost ground despite deeper discounts.

Takeaway
Overall, these trends point to consumer preference shifting away from older configurations for appliances, like bottom mount, even in light of deep discounts (bottom mount saw average discounts of 19.1%, up from 12.2& YOY). Home Depot’s gains in more premium and higher-demand formats like SXS refrigerators and front load washers paid off, emphasizing its ability to align with purchase trends.

Home Depot Market Share: Outdoor Power Equipment Category
Category Decline Cushioned by Small Product-Level Wins

Home Depot saw a slight decline in outdoor power equipment market share in Q1 2025, seeing -1.8 ppt in dollar share and -0.2 ppt in unit share YOY. 

Despite this decline, Home Depot managed to maintain their place as the market share leader in outdoor power equipment, coming in just above Lowe’s with only 0.9 ppt more share.

Top Outdoor Power Equipment Retailers: Q1 2025 Dollar Share Split

• Home Depot: 39.8%
• Lowe’s: 38.9%
• Amazon: 11.1%
• Walmart: 9.1%
• Best Buy: 1.1%

Notably, Amazon is making gains in the outdoor power equipment space, up almost 1 ppt YOY.

Here are the product categories contributing to Home Depot’s outdoor power equipment share in Q1.

Snow removal stood out with the biggest gains:

• +2.2 ppt in unit share
• +3.0 ppt in dollar share
• At the brand level, Ryobi maintained leadership at 40.1% unit share, despite a minor drop. Troy-Bilt surged +3.2 ppt, capturing the No. 2 spot.

Walk Behind Mowers declined overall. 

• Despite that, Ryobi grew its presence in the category, up +10 ppt, from 32% to 42% unit share

Handheld Tools (leaf blowers, hedge trimmers, power washers) showed small gains. 

• Once again led by Ryobi, who saw a 5.1 ppt in unit share growth. 
• ECHO lost share: -3 ppt in units and -2 ppt in dollars.

Takeaway
Despite a drop in total share, Home Depot held strong in strategic product categories, driven largely by its exclusivity with Ryobi, and the brand’s wide assortment and value pricing. As demand shifts in the upcoming seasons, these product-specific wins can help the retailer negate broader declines in the category. 

Home Depot Market Share: Power Tools Category 

Market Leader, But Feeling the Pressure 

Home Depot maintained leadership in the power tools category in Q1 2025, winning a dominant 47.8% dollar share. However, signs of pressure are emerging, with share slipping -1.2 ppt in dollars and -2.1 ppt in units YOY. This decrease in share correlates to a YOY growth in share for both Amazon and Walmart. 

Power Tools Retailers: Q1 2025 Market Share Split

• Home Depot: 50.1%
• Lowe’s: 24%
• Amazon: 17.1%
• Walmart: 8.5%
• Best Buy: >1%

Here are the product categories contributing to Home Depot’s power tools in Q1.

As with outdoor power equipment, Ryobi showed strong performance, winning overall top-selling power tools SKU at Home Depot with their PCL201K1 power drill, which alone saw nearly 10 ppts in growth. Driving that growth was a 15.5% drop in price YOY. 

Milwaukee also gained traction at Home Depot, particularly in orbital sanders, seeing +4.3 ppt unit share growth and +7.9 ppt in dollar share. 

Despite these brand highlights, product areas where Home Depot saw more friction included air compressors, which saw the steepest product group decline at -3.5 ppt unit share. 

• However, air compressors did drive dollar share increase of +1.5 ppt through higher average prices.
• The brand Ridgid took the hardest hit, seeing a -30.7 unit share loss due to key out-of-stock inventory.

Takeaway
Home Depot continues to lead the power tools category, but brand-level inventory and pricing shifts are impacting overall category performance. While brands like Ryobi and Milwaukee are helping hold share, losses in subcategories like air compressors signal a need to rebalance lineup heading into the next quarter.

Where Brands & Retailers Should Focus Now

Home Depot’s Q1 2025 results reveal how consumer preferences and competitive dynamics are reshaping category performance – and how that performance can impact overall market share. 

Here’s how these takeaways are applicable for competitive brands and retailers in the durables space:

1. Private label and exclusivity matter
2. Pay attention to performance at the category-level, success depends on product-level positioning as well as brand-level
3. Targeted pricing is only effective when paired with demand
4. Battery-powered products are winning in power tools and OPE
5. Based on purchase driver data, consumers are driven by necessity, not aspiration as they replace rather than upgrade
6. Know what to stock as well as when, where, and why it resonates with value-conscious consumers