This report describes and evaluates the global personal goods repair and maintenance market. It covers three five years’ period, including, 2016-2021, termed the historic period, 2021-2026 forecast period and 2026-2031 forecast period. The report evaluates the market across each region as well as for the major economies within each region.
The global personal goods repair and maintenance market reached a value of nearly $124,523.67 million in 2021, having increased at a compound annual growth rate (CAGR) of 4.5% since 2016. The market is expected to grow from $124,523.67 million in 2021 to $186,027.05 million in 2026 at a rate of 8.4%. The market is then expected to grow at a CAGR of 8.5% from 2026 and reach $279,296.60 million in 2031.
Growth in the historic period in the personal goods repair and maintenance market resulted from rise in disposable income, strong economic growth in emerging markets, rapid urbanization, increased internet penetration, and increased availability of mobile devices. The market was restrained by unpredictability in the political environment across countries and shortage in components supply.
Going forward, 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 will drive the market in future. Factors that could hinder the growth of the market in the future include lack of skilled workforce, high cost involved in training service technicians and coronavirus pandemic.
The personal goods repair and maintenance market is segmented by type into 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. The other personal and household goods repair and maintenance segment was the largest segment of the personal goods repair and maintenance market segmented by type, accounting for 40.0% of the total in 2021. Going forward, appliance repair and maintenance segment is expected to be the fastest growing segment in the personal goods repair and maintenance market segmented by type, at a CAGR of 12.0% during 2021-2026.
The personal goods repair and maintenance market is segmented by mode into online and offline. The offline segment was the largest segment of the personal goods repair and maintenance market segmented by mode, accounting for 87.5% of the total in 2021. Going forward, online segment is expected to be the fastest growing segment in the personal goods repair and maintenance market segmented by mode, at a CAGR of 13.4% during 2021-2026.
The personal goods repair and maintenance market is segmented by service type into inspection, maintenance, and repair. The repair segment was the largest segment of the personal goods repair and maintenance market segmented by service type, accounting for 43.2% of the total in 2021. Going forward, maintenance segment is expected to be the fastest growing segment in the personal goods repair and maintenance market segmented by service type, at a CAGR of 8.8% during 2021-2026.
Asia Pacific was the largest region in the personal goods repair and maintenance market, accounting for 34.2% of the total in 2021. It was followed by the Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the personal goods repair and maintenance market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 9.7% and 9.3% respectively during 2021-2026. These will be followed by Middle East and North America, where the markets are expected to register CAGRs of 8.7% and 7.8% respectively during 2021-2026.
The global personal goods repair and maintenance market is highly fragmented, with a few large players. The top ten competitors in the market made up to 1.41% of the total market in 2020. Major players in the market are Frontdoor Inc, Mr. Appliance, Furniture Medic, Lee Company, Home-Tech Consolidated, Inc. and other players.
The top opportunities in the personal goods repair and maintenance market segmented by type will arise in appliance repair and maintenance segment, which will gain $29,371.5 million of global annual sales by 2026. The top opportunities in the personal goods repair and maintenance market segmented by mode will arise in offline segment, which will gain $47,807.7 million of global annual sales by 2026. The top opportunities in the personal goods repair and maintenance market segmented by service type will arise in repair segment, which will gain $25,243.2 million of global annual sales by 2026. The personal goods repair and maintenance market size will gain the most in the USA at $13,193.2 million.
Market-trend-based strategies for the personal goods repair and maintenance 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.
Player-adopted strategies in the personal goods repair and maintenance market includes focusing on expanding professional repairs services through new connectivity platforms launches, focus on expanding appliance repair brand by offering franchise business (ownership) opportunities and focus on offering special financing on home projects.
To take advantage of the opportunities, the publisher reccomends the personal goods repair and maintenance companies to use IoT (Internet of Things) in repair and maintenance, focus on augmented reality for maintenance and repair, establish operations in emerging markets, offer flexible pricing, adopt market-based pricing, leverage social media platforms, use direct-to-consumer (DTC) advertising and focus on post-purchase services.
The global personal goods repair and maintenance market reached a value of nearly $124,523.67 million in 2021, having increased at a compound annual growth rate (CAGR) of 4.5% since 2016. The market is expected to grow from $124,523.67 million in 2021 to $186,027.05 million in 2026 at a rate of 8.4%. The market is then expected to grow at a CAGR of 8.5% from 2026 and reach $279,296.60 million in 2031.
Growth in the historic period in the personal goods repair and maintenance market resulted from rise in disposable income, strong economic growth in emerging markets, rapid urbanization, increased internet penetration, and increased availability of mobile devices. The market was restrained by unpredictability in the political environment across countries and shortage in components supply.
Going forward, 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 will drive the market in future. Factors that could hinder the growth of the market in the future include lack of skilled workforce, high cost involved in training service technicians and coronavirus pandemic.
The personal goods repair and maintenance market is segmented by type into 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. The other personal and household goods repair and maintenance segment was the largest segment of the personal goods repair and maintenance market segmented by type, accounting for 40.0% of the total in 2021. Going forward, appliance repair and maintenance segment is expected to be the fastest growing segment in the personal goods repair and maintenance market segmented by type, at a CAGR of 12.0% during 2021-2026.
The personal goods repair and maintenance market is segmented by mode into online and offline. The offline segment was the largest segment of the personal goods repair and maintenance market segmented by mode, accounting for 87.5% of the total in 2021. Going forward, online segment is expected to be the fastest growing segment in the personal goods repair and maintenance market segmented by mode, at a CAGR of 13.4% during 2021-2026.
The personal goods repair and maintenance market is segmented by service type into inspection, maintenance, and repair. The repair segment was the largest segment of the personal goods repair and maintenance market segmented by service type, accounting for 43.2% of the total in 2021. Going forward, maintenance segment is expected to be the fastest growing segment in the personal goods repair and maintenance market segmented by service type, at a CAGR of 8.8% during 2021-2026.
Asia Pacific was the largest region in the personal goods repair and maintenance market, accounting for 34.2% of the total in 2021. It was followed by the Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the personal goods repair and maintenance market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 9.7% and 9.3% respectively during 2021-2026. These will be followed by Middle East and North America, where the markets are expected to register CAGRs of 8.7% and 7.8% respectively during 2021-2026.
The global personal goods repair and maintenance market is highly fragmented, with a few large players. The top ten competitors in the market made up to 1.41% of the total market in 2020. Major players in the market are Frontdoor Inc, Mr. Appliance, Furniture Medic, Lee Company, Home-Tech Consolidated, Inc. and other players.
The top opportunities in the personal goods repair and maintenance market segmented by type will arise in appliance repair and maintenance segment, which will gain $29,371.5 million of global annual sales by 2026. The top opportunities in the personal goods repair and maintenance market segmented by mode will arise in offline segment, which will gain $47,807.7 million of global annual sales by 2026. The top opportunities in the personal goods repair and maintenance market segmented by service type will arise in repair segment, which will gain $25,243.2 million of global annual sales by 2026. The personal goods repair and maintenance market size will gain the most in the USA at $13,193.2 million.
Market-trend-based strategies for the personal goods repair and maintenance 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.
Player-adopted strategies in the personal goods repair and maintenance market includes focusing on expanding professional repairs services through new connectivity platforms launches, focus on expanding appliance repair brand by offering franchise business (ownership) opportunities and focus on offering special financing on home projects.
To take advantage of the opportunities, the publisher reccomends the personal goods repair and maintenance companies to use IoT (Internet of Things) in repair and maintenance, focus on augmented reality for maintenance and repair, establish operations in emerging markets, offer flexible pricing, adopt market-based pricing, leverage social media platforms, use direct-to-consumer (DTC) advertising and focus on post-purchase services.
Table of Contents
1. Personal Goods Repair And Maintenance Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure8. Personal Goods Repair And Maintenance Market, Product/Service Analysis -Product/Service Examples
6. Introduction
7. Personal Goods Repair And Maintenance Market Characteristics
9. Personal Goods Repair And Maintenance Market, Supply Chain Analysis
10. Personal Goods Repair And Maintenance Market Customer Information
11. Personal Goods Repair And Maintenance Market Trends And Strategies
12. Impact Of COVID-19 On The Personal Goods Repair And Maintenance Market
13. Global Personal Goods Repair And Maintenance Market Size And Growth
14. Personal Goods Repair And Maintenance Market, Regional Analysis
15. Global Personal Goods Repair And Maintenance Market Segmentation
18. Western Europe Personal Goods Repair And Maintenance Market
19. Eastern Europe Personal Goods Repair And Maintenance Market
20. North America Personal Goods Repair And Maintenance Market
21. South America Personal Goods Repair And Maintenance Market
22. Middle East Personal Goods Repair And Maintenance Market
23. Africa Personal Goods Repair And Maintenance Market
24. Global Personal Goods Repair And Maintenance Market Competitive Landscape
Executive Summary
Personal Goods Repair and Maintenance Global Market Opportunities And Strategies To 2031 provides the strategists; marketers and senior management with the critical information they need to assess the global personal goods repair and maintenance market as it emerges from the COVID 19 shut down.
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Description:
Where is the largest and fastest growing market for personal goods repair and maintenance? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The personal goods repair and maintenance market global report answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider personal goods repair and maintenance market; and compares it with other markets.
The report covers the following chapters
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - The introduction section of the report gives a brief introduction about segmentation by geography and segmentation by type, segmentation by mode and segmentation by service type.
- Market Characteristics - The market characteristics section of the report defines and explains the personal goods repair and maintenance market. This chapter includes different products covered in the report and basic definitions.
- Product/Service Analysis - The product analysis section of the report describes the leading products/services in the market along with key features and differentiators for those products/services.
- Supply Chain - The supply chain section of the report defines and explains the key players in the personal goods repair and maintenance industry supply chain.
- Customer Information - This chapter covers recent customers’ trends/preferences in the global personal goods repair and maintenance market.
- Trends And Strategies - This section describes the major trends shaping the global personal goods repair and maintenance market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- Impact of COVID-19 - This section describes the impact of COVID-19 on the personal goods repair and maintenance market.
- Global Market Size And Growth - This section contains the global historic (2016-2021) and forecast (2021-2026 and 2026-2031) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2016-2021) and forecast (2021-2026 and 2026-2031) market value and growth, and market share comparison by region.
- Market Segmentation - This section contains the market values (2016-2031) and analysis for segment by product, by server type and by operating system in the market.
- Regional Market Size And Growth - This section contains the region’s market size (2021), historic (2016-2021) and forecast (2021-2026 and 2026-2031) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa).
- Competitive Landscape - This section covers details on the competitive landscape of the global personal goods repair and maintenance market, estimated market shares, and company profiles of the leading players.
- Key Mergers And Acquisitions - This section gives information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Background - This section describes the repair and maintenance market of which the personal goods repair and maintenance market is a segment. This chapter includes the repair and maintenance market 2016-26 values, and regional analyses for the repair and maintenance market.
- Market Opportunities And Strategies- This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for personal goods repair and maintenance providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations, and currencies codes used in this report.
Scope
Markets Covered:
- 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
- By Mode: Online; Offline
- By Service: Inspection; Maintenance; Repair
Companies Mentioned:
Frontdoor Inc; Mr. Appliance; Furniture Medic; Lee Company; Home-Tech Consolidated, Inc
Countries:
China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series:
Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; Personal Goods Repair and Maintenance indicators comparison.
Data segmentations:
country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Frontdoor Inc.
- Mr. Appliance
- Furniture Medic
- Lee Company
- Home-Tech Consolidated, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 400 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 124523.67 Million |
| Forecasted Market Value ( USD | $ 279296.6 Million |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
