The handyman service industry is experiencing a surge, projected to reach a staggering USD 1.8 billion by 2033. This translates to a healthy 16.5% annual growth, a clear indicator of a thriving market.
The growth in dual-income households and hectic lives have raised the demand for professional assistance with home repairs and upkeep. Although the DIY culture has grown in popularity, complex undertakings and a lack of time or skill motivate many to employ handyman services.
Customers may now identify and schedule handyman services online thanks to technological improvements, which provide ease and accessibility. The aging population necessitates help with home maintenance, resulting in a continual demand for handyman services. All of these factors contribute to the growth and expansion of the handyman service market.
Navigating Economic Challenges in the Handyman Service Market:
While the handyman service business has potential for expansion, various impediments may limit its advancement. DIY enthusiasts who prefer basic repairs may reduce demand for professional handyman services. Economic downturns or recessions may result in lower home repairs and maintenance expenditures, influencing the handyman service business.
Customers may hesitate to choose unfamiliar handyman services due to concerns about trust and trustworthiness. Customers may be drawn away from general handyman services due to the availability of specialized contractors for difficult work. Finally, regulatory regulations and licensing constraints create entry barriers for new market participants, limiting market expansion for handyman services.
Regional Perspectives on the Thriving Handyman Service Industry:
The demand for handyman services in North America is expanding steadily due to rising urbanization, increasing residential properties, and the need for routine maintenance and repairs. Europe is likewise experiencing a robust handyman service industry fueled by a growing tendency to outsource home improvement jobs and an aging population needing assistance with domestic maintenance.
Rapid urbanization, an expanding middle-class population, and rising disposable incomes are surging demand for handyman services throughout the Asia Pacific. Emerging economies in Latin America and the Middle East are growing their use of professional handyman services, contributing to the regional perspective.
Key Takeaways:
- The United States might increase its market share by 31.6% between 2023 and 2033.
- Between 2023 and 2033, Germany may hold a share of 7.4% in the handyman service industry.
- Japan’s share of the handyman service industry is to reach 5.6% between 2023 and 2033.
- Australia to hold a 3.1% share of the market from 2023 to 2033.
- During the forecast period, China handyman service business to expand at a CAGR of 20.4%.
- From 2023 to 2033, the United Kingdom handyman service industry is likely to register a 17.1% CAGR.
- Through 2033, the India handyman service market is expected to record a CAGR of 22.6%.
- The online segment of the deployment category is predicted to have a market share of 63.6% by 2033.
- The repairs and maintenance segment holds a market share of 31.1% in the electricity category between 2023 and 2033.
- North America may increase its handyman service market share by 36.2% between 2023 and 2033.
- Between 2023 and 2033, Europe may hold a share of 24.4% in the handyman service business.
Competitive Landscape:
The pivotal handyman service participants employ several marketing strategies, such as acquisitions, expansions, and alliances. They are launching new services to increase their market presence among customers.
Key Players in the Industry:
- Mr. Handyman
- Ace Handyman Services
- Handy
- Handyman Connection
- American Handyman Services LLC
- Hambleton Handyman
- Handyman Matters
- Paul’s Handyman Melbourne
Key Segments Covered:
By Deployment:
- Online
- Offline
By Repairs & Maintenance:
- Electricity
- Plumbing
- Non-HVAC Home Appliances
- Gas
- Heating
- Ventilation and Air Conditioning
By Home Improvement Type:
- Construction
- Interior Design
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- The Middle East & Africa
- Oceania
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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