Rising availability of DIY home improvement products is fueling the do-it-yourself (DIY) home improvement retailing market growth. The COVID-19 pandemic has positively impacted the market. The North America region is likely to lead the market.
NEW YORK, July 5, 2022 /PRNewswire/ — Research Dive has added a new report to its offerings titled, “Do-it-yourself (DIY) Home Improvement Retailing Market by Type (Building Materials, Decor & Indoor Garden, Lighting, Electrical Work Materials, Tools & Hardware, Painting, Wallpaper & Supplies, Plumbing Materials & Equipment, Flooring Repair & Replacement Materials, and Outdoor), Distribution Channel (Offline and Online), and Regional Analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030“.
The global do-it-yourself (DIY) home improvement retailing market is expected to garner $1,278.0 Billion by 2030, growing at a CAGR of 4.37% from 2022 to 2030. The report delivers comprehensive insights into the current condition and future prospective of the industry by meticulously examining market drivers and restraints, opportunities, major segments, and regions.
Key Segment Findings of the Do-it-Yourself (DIY) Home Improvement Retailing Market:
The market is segmented based on type, distribution channel, and region.
- The painting sub-segment of the type segment is anticipated to observe highest growth and surpass $237.5 billion in the estimated period. This growth is mainly because of the rising availability of extensive array of DIY paint products such as frost effect spray, self-painting kit, terrace wall proofing, crackle effect spray, and many others.
- The online sub-segment of the distribution channel segment is anticipated to lead the market and collect a revenue of $148.0 billion in the estimated period. This growth is mainly because of the rising availability of numerous DIY products on several online platforms such as Alibaba Group Holding Ltd., Amazon, Inc., eBay Inc., Rakuten, Inc., and others.
- Among region, the North America do-it-yourself (DIY) home improvement retailing market is projected to observe leading growth and surpass $688.8 billion in the estimated period. The growth of this region market is mostly owing to the rising adoption of DIY home enhancement projects by people due to increasing advertisements about DIY products on social media and the introduction of DIY knowledge centers that encourage DIY activities in this region.
Do-it-Yourself (DIY) Home Improvement Retailing Market Dynamics
The key factors fueling the growth of the global do-it-yourself (DIY) home improvement retailing market are a significant rise in the popularity and adoption of do-it-yourself (DIY) home improvement projects among people worldwide and growing knowledge on DIY projects owing to easy access to video guidelines, tutorials, and how-to articles. In addition, recently, there has been a rise adoption of eco-friendly products among people. The market players are increasingly offering sustainable and zero-waste DIY materials and products to cater the customer demand for eco-friendly products. This factor is projected to open doors to innovative opportunities for the market growth in the projected period. However, absence of proficiency and experience in DIY businesses is estimated to deter the market growth during the forecast period.
Impact of the COVID-19 Pandemic on the Market:
The COVID-19 pandemic has made a positive impact on the growth of the global do-it-yourself (DIY) home improvement retailing market in 2020. This is mainly owing to the execution of strict lockdown which has forced people interested in DIY project to invest their time to complete home enhancement projects such as gardening. Also, the demand for do-it-yourself (DIY) home improvement products has significantly surged. All these factors are propelling the market growth amidst the pandemic period.
Top Players of the Global Do-it-Yourself (DIY) Home Improvement Retailing Market
The major players of the global do-it-yourself (DIY) home improvement retailing market are
- Home Depot Product Authority, LLC
- Travis Perkins
- Kesko Corporation
- UBUY Inc.
- Lowe’s Companies, Inc.
- Amazon.com, Inc.
- Walmart Inc.
- UBYLD RETAIL PRIVATE LIMITED.
- Flipkart.com, and others.
Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. – Inquire here before buying the full report
For instance, in April 2022, Speedy, a leading rental business in the UK, launched the ‘Make Every Job Easy’ campaign, a multi-million-pound marketing and advertising campaign across the UK for promoting the company’s collection of equipment and tools for DIY projects. This launch will strengthen Speedy’s foothold in the global do-it-yourself (DIY) home improvement retailing market.
Moreover, the report offers other key details such as business tactics, financial performance, and product/service range of the leading players along with Porter’s five forces analysis and SWOT analysis.
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