The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The building material and garden equipment and supplies dealers market have witnessed substantial growth in recent years, showcasing a robust ascent from $1,548.38 billion in 2023 to a projected $1,671.01 billion in 2024, with a remarkable compound annual growth rate (CAGR) of 7.9%. As we peer into the future, the market is poised to reach $2,228.62 billion in 2028, fueled by key factors such as sustainable products, home renovation trends, smart home and garden technology, the aging population, and infrastructure development.

Rising Home Improvement Spending Fuels Growth:

• Home improvement projects act as a primary driver for market growth.
• In 2022, the US witnessed an increase in home improvement spending, reaching $472 billion.
• This trend is projected to continue, with spending expected to reach $485 billion in 2023.
• Major market players, including The Home Depot Inc. and Lowe’s Companies Inc., play a pivotal role in meeting the growing demand.

Introduction of Affordable Elements for Sustainability:

• Major companies are introducing affordable and sustainable alternatives to traditional building materials.
• Pastacrete ResCP, an eco-friendly substitute for concrete and steel, has been introduced by Buro Happold in May 2023.
• This innovative material is made from readily available bio-based elements, offering a reduced carbon footprint, recyclability, and excellent insulation properties.

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Market Segmentation:

• The building material and garden equipment and supplies dealers market are segmented based on type, ownership, and type of store.
  • Type: Building Material and Supplies Dealers, Lawn and Garden Equipment and Supplies Stores
  • Ownership: Retail Chain, Independent Retailer
  • Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store

Regional Dominance – North America:

• In 2023, North America emerged as the largest region in the building material and garden equipment and supplies dealers market.
• The region’s dominance is attributed to factors such as strong market players, increased consumer demand, and favorable economic conditions.
• Companies in North America, including The Scotts Miracle-Gro Company and PPG Industries Inc., contribute significantly to market growth.

Future Trends in the Market:

• The building material and garden equipment market are expected to maintain a CAGR of 7.5% through 2028.
• Key trends include the adoption of sustainable and eco-friendly products, evolving home renovation preferences, the integration of smart home and garden technology, the impact of an aging population, and ongoing infrastructure development.

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The Building Material and Garden Equipment and Supplies Dealers Global Market Report 2023  provides an overview of the building materials and garden equipment and supplies dealers market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The building materials and garden equipment and supplies dealers market forecast analyzes building materials and garden equipment and supplies dealers market size, building materials and garden equipment and supplies dealers market share, leading competitor and their market positions.

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