The retail home improvement (DIY) market in North America is expected to be the most prevalent in the forecast period, 2022-2030
Portland, 5933 NE WIN SIVERS DRIVE, #205, or 97220, US, October 28, 2022/EINPresswire.com/ – According to the latest Global Research Dive report Do It Yourself (DIY) Home Improvement Retail Market It is projected to grow at an astounding compound annual growth rate of 4.37%, thus generating $1,278.0 billion in revenue by 2030. This latest report from Research Dive provides a brief overview of the contemporary architecture of the home improvement (DIY) retail market. Including its key characteristics such as growth drivers, growth opportunities, constraints and obstacles during the 2022-2030 analysis period. All important market statistics are also provided in this report to help new players in the market to easily gain insights about the market.
Home Improvement (DIY) Retail Market Dynamics:
Motives: The growing popularity of DIY projects, especially among homeowners worldwide, is expected to be the primary driver of market growth in the projected time frame. Besides, the increase in disposable income of the global population is expected to boost the DIY home improvement (DIY) retail market.
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Opportunities: The emergence of eco-friendly DIY projects is expected to create massive growth opportunities for the market in the analysis period. The growing hesitation among the general public regarding the adoption of a use and disposal culture is also expected to drive the market.
Limitations: However, lack of experience in the DIY business is limiting the growth of the do-it-yourself home improvement retail market.
The impact of Covid-19 on the home improvement (DIY) retail market
The novel coronavirus pandemic and the resulting shutdowns have negatively impacted many manufacturing and service industries by disrupting supply chains on both the supply side and the demand side. However, the DIY home improvement (DIY) retail market has been an exception and has seen significant growth despite the pandemic situation. The increasing number of people investing time in the “do-it-yourself” business and the growing trend of “do-it-yourself” beauty care have been key growth factors in this market. Moreover, the major players in the home improvement market are increasingly focusing on adopting growth strategies such as business expansions and strategic investments that have helped the market the most.
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Segments of the DIY home improvement retail market:
The report has segmented the DIY home improvement (DIY) retail market into specific segments based on type, distribution channel, and region.
Type: Draw a sub-segment to get the highest market share
By type, the coating sub-segment is expected to have a dominant market share and generate significant revenue of $237.5 billion by 2030. A wide range of DIY painting products including self-painting range, balcony wall proofing, crackle effect spray, frost effect is expected to Spraying, etc. is the main factor behind the growth of this sub-segment in the 2022-2030 time frame.
Distribution channel: the online sub-part to flourish exponentially
By distribution channel, the online sub-segment is expected to witness the fastest growth in the market and generate revenue of $148.0 billion by 2030. Availability of huge DIY resources on various online platforms like Amazon, Inc., Alibaba Group Holding Ltd., eBay Inc . , etc., and the attractive discounts they offer are expected to become the main drivers of growth in this sub-segment.
Region: the market in North America to be the most dominant
By regional analysis, the retail home improvement (DIY) market in the North American region is expected to be the most dominant and generate revenue of $688.8 billion by 2030. The advanced level of urbanization in the countries of this region along with changing people’s lifestyle, is expected To become the two main reasons for the growth of this market in this region.
Some of the leading market players in the do-it-yourself retail home improvement market are
UBYLD RETAIL PRIVATE LIMITED
Lowe Companies, Inc.
Home Depot Product Authority, LLC, among others.
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