New York, USA, Aug. 31, 2022 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the global do-it-yourself (DIY) home improvement retailing market is predicted to generate a revenue of $1,278.0 billion and rise at a CAGR of 4.37% during the forecast timeframe from 2022 to 2030.
As per our analysts, with the rising popularity of DIY projects among individuals especially homeowners all across the globe, the do-it-yourself (DIY) home improvement retailing market is predicted to witness progressive growth during the forecast period. Besides, the growing urbanization, changing consumer lifestyle, and increasing disposable income among people are the factors expected to fortify the growth of the market over the analysis timeframe. Moreover, the increasing focus on zero-waste DIY projects to create eco-friendly homes is predicted to create huge growth opportunities for the market throughout the estimated period. However, the lack of expertise in the DIY field may restrict the growth of the market during the forecast period.
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Segments of the Do-it-yourself (DIY) Home Improvement Retailing Market
The report has divided the market into segments based on type, distribution channel, and region.
Type: Painting Sub-Segment to be Most Profitable
The painting sub-segment is predicted to generate a revenue of $237.5 billion over the analysis timeframe. This is mainly due to the availability of a wide range of DIY paint products that include terrace wall proofing, frost effect spray, self-painting kit, and many more. Further, the increasing strategic innovations made by leading key players and increasing disposable incomes among individuals are expected to augment the growth of the market sub-segment during the forecast period.
Distribution Channel: Online Sub-segment to be Most Productive
The online sub-segment is expected to garner a revenue of $148.0 billion during the analysis period. This is mainly due to the availability of huge DIY resources on various online platforms. Furthermore, the huge penetration of smartphones across developing economies, safe and comfortable shopping, minimizing human error, and many more are the factors predicted to augment the growth of the market sub-segment over the estimated period.
Region: North America Region to Have Expansive Growth Opportunities
The North America region of the do-it-yourself (DIY) home improvement retailing market is predicted to garner a revenue of $688.8 billion throughout the analysis timeframe. This is majorly because of the economic recovery of the countries and rising urbanization in this region. Moreover, the increasing promotion of DIY activities by DIY knowledge centers in this region and expanded vendor advertising operations on social media is expected to drive the regional growth of the market over the forecast period.
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Covid-19 Impact on the Do-it-yourself (DIY) Home Improvement Retailing Market
Though the outbreak of novel coronavirus has devastated several other industries, it has had a positive impact on the do-it-yourself (DIY) home improvement retailing market. Due to the prolonged lockdown imposed by the governments of many nations, many DIYers both in developed and developing countries have started investing time in complete home improvement projects and gardening practices to keep them entertained. Moreover, the rising trend of do-it-yourself (DIY) beauty care practices has further increased the growth of the market during the pandemic period.
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Key Players of the Do-it-yourself (DIY) Home Improvement Retailing Market
The major players of the do-it-yourself (DIY) home improvement retailing market include
- Travis Perkins
- Kesko corporation
- Lowe’s Companies, Inc.
- Amazon.com, Inc.
- Walmart Inc.
- UBUY Inc.
- Home Depot Product Authority, LLC
- UBYLD RETAIL PRIVATE LIMITED., and many more.
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry. – Buy the Full Report Here!
For instance, in February 2022, Lowe’s Companies, Inc., an American retail company specializing in home improvement disclosed a new DIY ecosystem for DIYers named “DIY-U” that can bring live, on-demand, and home improvement skill-building into an advanced and personalized era. This ecosystem developed by Lowe is a one-stop shop for how-to project workshops from the most trusted home improvement brands.
In addition, the report also presents other vital aspects including SWOT analysis, the latest strategic development, product portfolio, and the financial performance of the key players.
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