Summary
Major companies in the building material and garden equipment and supplies dealers market include the home depot, Lowe’s Companies Inc., Wesfarmers Ltd., Falabella S.A., Rewe Group, Steinhoff International Holdings N.V., Ace Hardware Corporation, and Beijing Easyhome Investment Holding Group Co.Ltd.
The global building material and garden equipment and supplies dealers market grew from $1,427.99 billion in 2022 to $1,546.1 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The building material and garden equipment and supplies dealers market is expected to grow to $2,036.98 billion in 2027 at a CAGR of 7.1%.
The building materials and garden equipment and supplies dealers market includes revenues earned by entities by providing services through producers and wholesale distributors.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Building materials and garden equipment and supplies dealers are sellers that are engaged in retailing specialized lines of new building materials, such as lumber, fencing, glass, doors, plumbing fixtures and supplies, electrical supplies, prefabricated buildings and kits, and kitchen and bath cabinets and countertops to be installed.
North America was the largest region in the building material and garden equipment and supplies dealers market in 2022.Asia-Pacific was the second-largest region in the building material and garden equipment and supplies dealers market.
The regions covered in the building material and garden equipment and supplies dealers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of building materials and garden equipment and supplies dealers are building materials and supplies dealers, lawn and garden equipment, and supplies stores.Lawn and garden equipment and supplies stores sell products that include lawn and garden equipment, furniture, and products related to the cultivation of flowers, vegetables, and so on.
The main ownership types are retail chains and independent retailers, each having different types of stores that include exclusive retailers/showrooms and inclusive retailers/dealer stores.
The building materials and garden equipment and supplies dealers market is expected to benefit from steady economic growth forecasted for many developed and developing countries. According to International Monetary Fund (IMF), the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during the forecast period.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the building materials and garden equipment and supplies market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in the manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of "lock down" and the outbreak having a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the building materials and garden equipment and supplies dealers market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.
With rising awareness regarding environmental pollution, the demand for green building materials is increasing.Green building materials are sustainable, have a low carbon footprint, and help reduce exposure to toxic chemicals in residences and workplaces.
These materials are moisture-resistant, energy-efficient, easy to maintain and create less production waste.As people become aware of polluting and hazardous construction materials, the industry accommodates organic architecture and biodegradable materials in the design of homes and commercial spaces.
Consumers now demand safer products. For instance, American consumers are increasingly opting for sustainable building materials that are locally made, refurbished or remanufactured, and resilient to natural disasters.
The countries covered in the building material and garden equipment and supplies dealers market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The building material and garden equipment and supplies dealers market research report is one of a series of new reports that provides building material and garden equipment and supplies dealers market statistics, including building material and garden equipment and supplies dealers industry global market size, regional shares, competitors with a building material and garden equipment and supplies dealers market share, detailed building material and garden equipment and supplies dealers market segments, market trends and opportunities, and any further data you may need to thrive in the building material and garden equipment and supplies dealers industry. This building materials and garden equipment and supplies dealers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
