New York, USA, May 31, 2022 (GLOBE NEWSWIRE) — According to Research Dive’s latest report, the global do-it-yourself (DIY) home improvement retailing market is anticipated to rise at a stunning CAGR of 4.37%, thereby garnering a revenue of $1,278.0 billion by 2030. This latest report by Research Dive provides a brief outlook of the contemporary architecture of the do-it-yourself (DIY) home improvement retailing market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2022-2030. All the important market statistics are also provided in this report to help new market players gain insights into the market easily.
Dynamics of the Do-it-yourself (DIY) Home Improvement Retailing Market:
Drivers: The growing popularity for DIY projects, especially among homeowners across the globe, is expected to be the primary growth driver of the market in the forecast timeframe. Along with this, increasing disposable incomes of global populations is predicted to boost the do-it-yourself (DIY) home improvement retailing market further.
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Opportunities: The emergence of environment-friendly DIY projects is anticipated to create immense growth opportunities for the market in the analysis period. Growing reluctance among the general populace with respect to the adoption of use-and-throw-away culture is also projected to push the market.
Restraints: Lack of expertise in DIY businesses, however, restrain the growth of the do-it-yourself (DIY) home improvement retailing market.
Impact of Covid-19 on the Do-it-yourself (DIY) Home Improvement Retailing Market
The novel coronavirus pandemic and the resulting lockdowns have negatively impacted numerous manufacturing and service industries by hampering both the supply-side and demand-side supply chains. However, the do-it-yourself (DIY) home improvement retailing market has been an exception and has witnessed notable growth despite the pandemic situation. Growing number of people investing time in DIY businesses and rising trend of do-it-yourself (DIY) beauty care have been the two main growth factors of this market. Moreover, key players in home improvement market are increasingly focusing on the adoption of growth strategies like business expansions and strategic investments which has helped the market even more.
COVID-19 has a Positive Impact on the Do-it-yourself (DIY) Home Improvement Retailing Market. Connect with [email protected] https://www.researchdive.com/connect-to-analyst/157
Segments of the Do-it-yourself (DIY) Home Improvement Retailing Market:
The report has fragmented the do-it-yourself (DIY) home improvement retailing market into certain segments based on type, distribution channel, and region.
Type: Painting Sub-segment to Have the Highest Market Share
By type, the painting sub-segment is expected to have a dominant market share and garner a substantial revenue of $237.5 billion by 2030. The wide range of DIY paint products including self-painting kit, terrace wall proofing, crackle effect spray, frost effect spray, etc. is expected to be the main factor behind the growth of this sub-segment in the 2022-2030 timeframe.
Distribution Channel: Online Sub-segment to Flourish Immensely
By distribution channel, the online sub-segment is predicted to witness fastest market growth and generate a revenue of $148.0 billion by 2030. The availability of huge DIY resources on various online platforms like Amazon, Inc., Alibaba Group Holding Ltd., eBay Inc., etc. and the attractive discounts provided by them are predicted to become the two main growth drivers of this sub-segment.
Region: Market in North America Region to be the Most Dominant
By regional analysis, the do-it-yourself (DIY) home improvement retailing market in the North America region is projected to be the most dominant and garner a revenue of $688.8 billion by 2030. The advanced level of urbanization in the countries of this region coupled with changing lifestyle of the people are anticipated to become the two main reasons for the growth of this market in this region.
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Prominent Do-it-yourself (DIY) Home Improvement Retailing Market key Players:
Some leading market players of the do-it-yourself (DIY) home improvement retailing market are
- Travis Perkins
- Walmart Inc.
- Kesko Corporation
- UBUY Inc.
- UBYLD RETAIL PRIVATE LIMITED
- Lowe’s Companies, Inc.
- Amazon.com, Inc.
- Home Depot Product Authority, LLC, among others.
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market. – Inquire [email protected] https://www.researchdive.com/purchase-enquiry/157
For instance, in August 2021, the Global Home Improvement Network, the European DIY Retail Association, announced a merger with International Hardware Association (IHA). Though, the IHA will remain an independent network, the merger will help both the partners to integrate their capabilities and increase their footprint in the market.
Finally, the Research Dive report also summarizes many crucial aspects of the do-it-yourself (DIY) home improvement retailing market including financial performance of the key players, SWOT analysis, latest strategic developments, and product portfolio.
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