The handyman service market is anticipated to reach US$ 1.8 billion by 2033 from an estimated US$ 390.9 million in 2023. The handyman services industry is projected to develop at a healthy CAGR of 16.5% through 2033.
Long after the epidemic has passed, the market for handyman services is expected to continue to grow due to several variables, according to a global review of the industry. The expanding service sector is responsible for the market’s success. With the rising cost of residential homes, there is a growing demand for handyman services related to restoration and other projects.
These services cover installation, maintenance, repairs, electrical work, plasterboard, painting, carpentry, etc. Because of the large range of services offered and the growing market share in various sectors, the handyman services market has the potential to be profitable.
The market report on handyman services describes the wide range of services and how they connect to the latest technology and devices utilized in both public and private spaces. These new devices include home and office appliances like computer systems, memory grids, electric grids, inverters, and power generators.
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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.
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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.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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