Do-It-Yourself (DIY) Home Improvement Retailing Market
IMPACT OF COVID-19 ON THE GLOBAL DO-IT-YOURSELF (DIY) HOME IMPROVEMENT RETAILING MARKET
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220U, UNITED STATE, July 11, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Global Do-It-Yourself (DIY) Home Improvement Retailing Market Type, Distribution Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2022-2030,” the global do-it-yourself (DIY) home improvement retailing market size was $848.2 billion in 2021, and global do-it-yourself (DIY) home improvement retailing market forecast is projected to reach $1278.0 billion by 2030, growing with an expected CAGR of 4.37% from 2022 to 2030.
According to a new report published by Allied Market Research, titled, “Do-It-Yourself (DIY) Home Improvement Retailing Market,” The do-it-yourself (diy) home improvement retailing market size was $848.20 billion in 2021, and is estimated to reach $1,278.00 billion by 2030, growing at a CAGR of 4.37% from 2022 to 2030.
Because of our hectic lifestyles and work schedules, convenient and comfortable shopping has become extremely important. Many major competitors have launched their own online stores to provide low-cost pick-up and delivery services. This reduces the effort required by consumers to obtain DIY home improvement products by incurring additional costs. For example, since embracing e-commerce, Walmart’s online revenues increased by more than 20% to 25% in 2018. The ease of shopping and product delivery has increased the number of DIY products purchased online. Thus, the introduction of e-commerce, free pick-up, and delivery options will drive market growth during the forecast period.
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Individuals’ interest in DIY interior design is changing as their lifestyles change. Furthermore, the increasing population of working women in developing countries, as well as their involvement in home decoration decision-making, is driving sales of the products required for such projects. DIY products reduce costs, which will be a major driver of growing demands for DIY home improvement products over next five years.
The global do-it-yourself (DIY) home improvement retailing market is segmented on the basis of type, distribution channel, and region. By type, market has been divided into building materials, décor & indoor garden, lighting, electrical work materials, tools & hardware, painting, wallpaper & supplies, plumbing materials & equipment, flooring repair & replacement materials, and outdoor. By distribution channel, the analysis has been divided into offline and online. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Travis Perkins, Kesko Corporation, Lowe’s Companies, Inc., Amazon.com, Inc., Walmart Inc., UBUY Inc., Toolstation, Home Depot Product Authority, LLC, Flipkart.com, UBYLD RETAIL PRIVATE LIMITED.
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The report focuses on the global do-it-yourself (DIY) home improvement retailing market trends, do-it-yourself (DIY) home improvement retailing market analysis, and global do-it-yourself (DIY) home improvement retailing market share and do-it-yourself (DIY) home improvement retailing market forecast. It further highlights numerous factors that influence the do-it-yourself (DIY) home improvement retailing market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on do-it-yourself (DIY) home improvement retailing market demand in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL DO-IT-YOURSELF (DIY) HOME IMPROVEMENT RETAILING MARKET
During the COVID-19 pandemic, the global do-it-yourself (DIY) home improvement retailing industry experienced significant growth. As the majority of people were under COVID-19 lockdown. DIYers in both developed and developing countries are investing time to complete home improvement projects.
The majority of DIYers are engaged in gardening practices in order to improve their living spaces and keep them entertained during the lockdown. Furthermore, an important trend is the rise of do-it-yourself (DIY) beauty care. Many parlors have closed, and customers who are wary of direct physical contact are opting out of services.
Furthermore, given the loss of jobs and savings as a result of a COVID-19 situation, many consumers are likely to face financial difficulties.
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Key Findings of the Study
On the basis of type, the painting segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
On the basis of distribution channel, the offline segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
On the basis of region, Asia-Pacific is projected to have the fastest growing market during the forecast period.
David Correa
Allied Analytics LLP
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