New York, USA, May 31, 2022 (GLOBE NEWSWIRE) — According to the latest report from Research Dive, the global do-it-yourself (DIY) retail market should increase to a superb CAGR of 4.37%, thus collecting a revenues of $1,278.0 billion by 2030. This latest report from Research Dive provides a brief overview of the contemporary architecture of the DIY (DIY) retail market including its key characteristics such as growth drivers, growth opportunities, restraints and barriers during the analysis period of 2022-2030. All important market statistics are also provided in this report to help new market players to better understand the market.
Do-It-Yourself Retail Market Dynamics:
Drivers: Rising popularity of DIY projects, especially among homeowners across the globe, is expected to be the major market growth driver over the forecast period. Along with this, increasing disposable incomes of the global populations are expected to further boost the DIY retail market.
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Opportunities: The emergence of eco-friendly DIY projects is expected to create immense growth opportunities for the market over the analysis period. The growing reluctance of the general population towards adopting the use-and-throw culture is also expected to drive the market.
Constraints: Lack of expertise in DIY businesses, however, is hampering the growth of the DIY retail market.
Impact of Covid-19 on the DIY (DIY) retail market
The novel coronavirus pandemic and resulting lockdowns have negatively impacted many manufacturing and service industries by hampering both supply-side and demand-side supply chains. However, the do-it-yourself (DIY) home improvement retail market has been an exception and has seen notable growth despite the pandemic situation. The growing number of people investing time in DIY businesses and the growing trend of do-it-yourself (DIY) beauty care have been the two major factors driving the growth of this market. Moreover, major players in the home improvement market are increasingly focusing on adopting growth strategies such as business expansion and strategic investments, which has further helped the market.
COVID-19 is having a positive impact on the DIY retail market. Connect with [email protected] https://www.researchdive.com/connect-to-analyst/157
Do-It-Yourself Retail Market Segments:
The report has fragmented DIY (DIY) retail market into certain segments based on type, distribution channel and region.
Type: Paint sub-segment to have the highest market share
By type, the paint sub-segment is expected to hold a dominant market share and garner a substantial share $237.5 billion in revenue by 2030. The wide range of DIY painting products, including self-painting kit, patio wall waterproofing, crackle effect spray, frost effect spray, etc. is expected to be the main driver of growth for this sub-segment over the 2022-2030 horizon.
Distribution channel: the online sub-segment will flourish immensely
By distribution channel, the online sub-segment is expected to witness the fastest market growth and generate $148.0 billion in revenue 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 they offer are expected to become the two main growth drivers for this sub-segment.
Region: North America region market will be the most dominant
According to a regional analysis, the do-it-yourself (DIY) home improvement retail market in the North America region is expected 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 the changing lifestyle of the people, are expected to become the two main reasons for the growth of this market in this region.
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Do-It-Yourself (DIY) Retail Market Key Players:
Some of the key players in the do-it-yourself (DIY) home improvement products retail market are
- Travis Perkins
- Walmart Inc.
- Kesko Company
- UBUY Inc.
- UBYLD RETAIL PRIVATE LIMITED
- Lowe’s Companies, Inc.
- Tool station
- Amazon.com, Inc.
- Home Depot Product Authority, LLC, among others.
These players are adopting various business strategies such as mergers, acquisitions, and collaborations to gain a leading position in the global market. – Inquire here @ https://www.researchdive.com/purchase-enquiry/157
For instancein August 2021, the Global Home Improvement Network, the European DIY Retailers Association, has announced a merger with the International Hardware Association (IHA). Although the IHA will remain an independent network, the merger will help the two partners integrate their capabilities and increase their market footprint.
Finally, the Research Dive report also summarizes many crucial aspects of the DIY (DIY) retail market, including key players’ financial performance, SWOT analysis, latest strategic developments, and product portfolio.
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