Global Personal Goods Repair And Maintenance Market Analysis: Size, Drivers, Trends, Opportunities And Strategies
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The personal goods repair and maintenance sector has experienced significant growth, climbing from $148.08 billion in 2023 to $158.43 billion in 2024, with a CAGR of 7.0%. This growth in the historic period is attributed to factors such as rising disposable income, economic growth in emerging markets, and increased internet penetration. Looking forward, the market is anticipated to maintain strong growth momentum, reaching $203.5 billion in 2028 at a CAGR of 6.5%. Key drivers of growth in the forecast period include a growing sense of sustainability, higher purchase costs of new products, and increasing government regulations for waste management. Major trends include the adoption of IoT for operational efficiency, the implementation of AR-based procedures, and considerations for mergers with financial and household appliance companies.
An increase in household gardening is expected to propel the growth of the personal goods repair and maintenance market. The practice of maintaining and growing a garden, especially as a hobby is referred to as gardening. Gardening tools require regular maintenance and remain in good working condition with routine maintenance. In addition to being sharp, tools also need to be pristine and antiseptic. Tools can spread bacterial, fungal, or insect infestations across the garden if they come into contact with plants or soil that has such issues. With an increase in the number of people involved in gardening, the need for the maintenance of gardening equipment is also rising. For instance, according to RubyHome a US-based luxury real estate brokerage firm, 55% of American households engage in gardening activities and maintain a garden in their house. Nearly 18.3 million U.S. households started gardening in 2021. In addition, according to 2021 research among 1,023 Canadian adults, conducted by the Agri-Food Analytics Lab at Dalhousie University, a public research university in Canada, 51% of respondents said they grew at least one variety of fruit or vegetable in a garden. Of those, 17.4% started growing food at home in 2020 during COVID-19. In addition, 67% of new gardeners in 2020 agreed that the pandemic influenced their decision to start gardening. Therefore, the increase in household gardening is expected to drive the personal goods repair and maintenance market going forward. The personal goods repair and maintenance market is anticipated to experience significant expansion, with forecasts indicating a market size of $XX billion in 2023, $YY billion in 2024, and $ZZ billion by 2028.
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What Are The Key Trends That Influence Personal Goods Repair And Maintenance Market Share Analysis?
Companies in the personal goods repair and maintenance market are focusing on innovative solutions like self-service repair to gain a competitive advantage. Self-service repair allows individuals to independently fix or maintain their belongings without professional help. For example, in November 2021, Apple Inc., a US-based technology company, launched its self-service repair program. This program enables customers who are confident in their repair skills to access genuine Apple parts and tools. Customers must first review the repair manual for the product they wish to fix.
Which Market Players Are Driving Growth In The Personal Goods Repair And Maintenance Market?
Major companies operating in the market are Frontdoor Inc, Mr. Appliance, Furniture Medic, Lee Company, Home-Tech Consolidated, Inc, NuShoe, Pride Air Conditioning & Appliance, Inc., Arista Air Conditioning Corp., One Hour Heating & Air Conditioning, Bhangar Wala Enterprises Private Limited, Finvictus India Private Limited, Rich Life Trading Private Limited, Imexture Trade India Private Limited, Shanxi Sida Yungui Mechanical & Electrical Engineering Co., Ltd, Zhejiang Materials Industry, Zhejiang Yasha Decoration Co., Ltd, Melbourne Digital Television Services, D.K Computer Solution, Shanghai Trendzone Construction Decoration Group Co., Ltd, Huizhou Huijinlong Mechanical & Electrical Repairing Co., Ltd, Domex appliances services, Glotech repairs, capital Repairs, UK Service home AEID services, MESURE PROCESS, Libre Service Casiers Maintenance, Slak, Hamitouche Hayat, Depannage, SARL Arcade Multiservices, Repair World Direct, Square Trade, Electronix Services, Meggitt PLC, MRO services, Feba Electronics Repair Service, Hilti Group, Holcim, Lufthansa Technik, Ufa, Mendtronix Inc, The Cableshoppe Inc, uBreakiFix, iCracked, Inc, P.C. Richard & Son, Inc, Daikin Holdings America Inc, Otis Worldwide Corporation, Terminix Global Holdings, Inc, Schindler Elevator Corporation, Evernex, Quanta services, Emcor Group Inc, MYR Group, MMR Group INC, Encompass Supply Chain Solutions, B2X Care Solutions, Moduslink Global Solutions, Redington Services, Quest International Inc
How Is The Global Personal Goods Repair And Maintenance Market Segmented?
The personal goods repair and maintenance market covered in this report is segmented –
1) By Type: Home And Garden Equipment Repair And Maintenance, Appliance Repair And Maintenance, Reupholstery And Furniture Repair, Footwear And Leather Goods Repair, Other Personal And Household Goods Repair And Maintenance
2) By Mode: Online, Offline
3) By Service: Inspection, Maintenance, Repair
Read The Full Personal Goods Repair And Maintenance Market Report Here
The Personal Goods Repair And Maintenance Global Market Report 2024 provides an overview of the personal goods repair and maintenancemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The personal goods repair and maintenance market forecast analyzes personal goods repair and maintenance market size, personal goods repair and maintenance market share, leading competitor and their market positions.
The Table Of Content For The Personal Goods Repair And Maintenance Market Include
1. Personal Goods Repair And Maintenance Market Executive Summary
2. Personal Goods Repair And Maintenance Market Segments
3. Personal Goods Repair And Maintenance Market Size And Template Market Growth Rate
4. Key Personal Goods Repair And Maintenance Market Trends
5. Major Personal Goods Repair And Maintenance Market Drivers
……
25. Key Mergers And Acquisitions In The Personal Goods Repair And Maintenance Market
26. Top Personal Goods Repair And Maintenance Companies
27. Personal Goods Repair And Maintenance Market Opportunities And Strategies
28. Personal Goods Repair And Maintenance Market, Conclusions And Recommendations
29. Appendix
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