NEWARK, Del, Aug. 24, 2022 (GLOBE NEWSWIRE) -- The handyman service market is expected to observe growth at a CAGR of 17.2% and is forecasted to touch a valuation of USD 1.65 bn by 2032, while it holds a revenue of USD 339.0 Mn in 2022
Global study on handyman services market explains that even after the course of the pandemic, the growth drivers of handyman services remain active. The expanding service sector has led the market’s success
The handyman service market survey defines the wide range of services and its alignment with the new objects and devices that come in the use in professional and personal spaces. These new devices include home and office appliances like computer systems, memory grids, electric grids, inverters, and power generators.
The market thrived on a 15.7 CAGR%. The market has now partially recovered from the loss faced by the market during the course of the covid-19 pandemic. The factors behind the slowed growth and market’s recovery is what FMI explains in the report.
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The growth has never been limited for the handyman services as new services keep on adding to market’s components. Covid-19 though affected the market big enough due to the shutdown and logistics ban implemented by the governments around the world to stop the spread.
Key Takeaways from Market Study
- The handyman service market is expected to increase with a market share of 36.5% in North America.
- Europe is expected to account for 24.80% market share during the assessment year.
- Based on deployment, the Offline segment is expected to grow at a CAGR of 20.27% during the forecast period of 2022 and 2032. The growth prospects are attributed to the traditional channel and holds multiple physical channels to provides its long range of services.
- Electricity segment has the highest market share in the handyman service market in the repairs & maintenance category, thriving at a CAGR of 21.34%. The growth attributed to lower shelf life, higher damage, and rising infrastructure.
“A new trend of adopting home care services during the time of the pandemic and the growing demand for the addition of real estate and building clusters where physical facilities are a part of the service system. The relevance of these newly added services helps the market swift its pace and adds gravity to the market dynamics.” says a Future Market Insights analyst.
Competitive Landscape
The handyman service market key players use a variety of marketing techniques, including acquisitions, expansions, and partnerships. They are also introducing new set of services to expand their market presence among customers. Some of the recent developments in the market are as follows –
- Handyman has introduced its new set of services such as assembly, repair, carpentry, installation, tile, exterior, painting and drywall. The company is also extending its service areas. These fuels the sales of handyman services.
- Ace handyman services have launched the four city tour reflections that are Tennessee to south Florida, Georgia, and South Carolina. This flourishes the demand for handyman services.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Handyman service market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on Application (Food, Beverage, Pharmaceuticals, Other (Applications), Form (Natural Handyman service, Synthetic Handyman service), Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA)
Handyman Service Market by Category
Deployment:
- Online
- Offline
Repairs & Maintenance:
- Electricity
- Plumbing
- Non-HVAC Home Appliances
- Gas, Heating
- Ventilation and Air Conditioning
Home Improvement Type:
- Construction
- Interior Design
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
4. Global Handyman Service Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032
5. Global Handyman Service Market Analysis 2017-2021 and Forecast 2022-2032, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) Analysis By Type, 2017-2021
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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