Overview and Scope
Personal goods repair and maintenance refer to the service of repair and maintenance of such goods that are primarily used for personal, family, and household purposes. Repair and maintenance can help identify any environmental problems and root causes of failure, and saves the cost of new piping and foundation changes.
Sizing and Forecast
The personal goods repair and maintenance market size has grown strongly in recent years. It will grow from $148.08 billion in 2023 to $158.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in disposable income, strong economic growth in emerging markets, rapid urbanization, increased internet penetration, and increased availability of mobile devices.
The personal goods repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $203.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing sense of sustainability, higher purchase cost of new products, growing personal goods failure rate and cost-benefit associated with repairing old goods, increasing government regulations for waste management. Major trends in the forecast period include companies should focus on adopting iot for their operations to enhance efficiency and to keep track of the real-time status of devices, implementing ar-based procedures to enhance their performance, consider merging with financial and other household appliances companies to strengthen their financial stability and enhance their performance, consider adopting predictive maintenance solutions to reduce breakdowns and improve efficiency by predicting parts failures in advance.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the personal goods repair and maintenance market in 2023. Western Europe was the second-largest region in the personal goods repair and maintenance market. The regions covered in the personal goods repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the personal goods repair and maintenance market report 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
The personal goods repair and maintenance market report table of contents includes:
1. Executive Summary
2. Personal Goods Repair And Maintenance Market Characteristics
3. Personal Goods Repair And Maintenance Product/Service Analysis -Product/Service Examples
4. Personal Goods Repair And Maintenance Market Trends And Strategies
5. Personal Goods Repair And Maintenance Market – Macro Economic Scenario
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31. Belgium Personal Goods Repair And Maintenance Market
32. Denmark Personal Goods Repair And Maintenance Market
33. Finland Personal Goods Repair And Maintenance Market
34. Ireland Personal Goods Repair And Maintenance Market
35. Netherlands Personal Goods Repair And Maintenance Market
36.Appendix
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