The handyman service market is anticipated to reach USD 1.8 billion by 2033 from an estimated USD 390.9 million in 2023. The handyman services industry is projected to develop at a healthy CAGR of 16.5% through 2033.
According to a global analysis of the handyman services market, the surging growth factors for handyman services continue to exist long after the epidemic. The market's success can be attributed to the growing service industry. The handyman services demand, such as renovation and other activities, has increased as residential home prices rise. Installation, upkeep, repairs, electrical work, plasterboard, painting, carpentry, etc., are all included in these services. The handyman services market can achieve successful outcomes thanks to the wide variety of services and the increasing penetration in these industries.
The handyman service market study outlines the broad range of services and how they relate to the new equipment and gadgets used in private and public places. These modern gadgets include computer systems, memory grids, electric grids, inverters, and power generators, as well as items for the home and workplace.
Maintenance and repair are crucial for these appliances to function better and last longer. This accelerates the market expansion for handyman services and boosts the handyman services sales.
2018 to 2022
| Market HCAGR 2018 to 2022 | 14.1% |
|---|---|
| Market Size - 2018 | USD 200 million |
| Market Size - 2022 | USD 339 million |
2023 to 2033
| Market CAGR 2023 to 2033 | 16.5% |
|---|---|
| Market Size - 2023 | USD 390.9 million |
| Market Size - 2033 | USD 1.8 billion |
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Between 2018 and 2022, there were several changes in the handyman services industry. The market expanded steadily from 2018 to 2022 as more households hired contractors for renovations and repairs. The coming decade may experience a dramatic increase in demand.
The handyman services business has reached new heights because of technological advancements like smart home installations and energy-efficient renovations. Consumer tastes were affected by an increasing emphasis on sustainability and eco-friendly practices, which increased the demand for green handyman services. The advent of specialized niche services such as home automation and aging-in-place adaptations increased the handyman services industry.
During both times, the handyman services industry underwent significant evolution and diversity in response to shifting customer demands and economic trends.
Rising Costs, Shrinking Budgets, and Advanced Tech: The Perfect Storm Escaalting the Demand for Handyman Services!
Due to the increasing cost of land and building supplies, purchasing a new home is becoming more expensive. People worldwide like to hire these handyman services to remodel their homes and alter their size, shape, and design. These services include repairing the building's margins and maintaining it while fixing the other infrastructure parts.
The resurgence of the end-user industry, which is still handling factors such as budget cuts, lower income per capita, and sales funnel emptiness, is the latency that envelops the market space and inhibits market expansion for handyman services. These constraints prevent the end user from using handyman services. Even if various services must be employed, they must be considered for a functioning business model. The handyman services business is holding on and resuming its previous course.
Tech Revolution and Convenient Online/Mobile Bookings Ignite Demand for Handyman Services like Painting and Electrical Work.
A new trend of embracing home care services, as well as an increase in demand for the addition of real estate and building clusters where physical facilities are part of the service system. The importance of these newly added services aids the market's speed and provides gravitas to market dynamics. Home Services also increase the overall cost-effectiveness of the service provider's provision of these services, offering a win-win situation for the service provider and the end customer.
From Wrenches to Wealth: Navigating Challenges in the Handyman Industry
The fierce rivalry among service providers makes it harder to stand out and attract customers. The rising cost of labor and materials puts a strain on business margins. Maintaining a trained and dedicated workforce is an ongoing struggle, as skilled craftsmen are in high demand.
Customer demands are rising, necessitating handyman services with different skill sets and quick response times. The increasing digital transformation necessitates that businesses adapt to online platforms and marketing methods to reach and engage customers effectively. Overcoming these problems necessitates innovation, effective marketing, efficient operations, and an emphasis on customer pleasure.
Riding the Wave of Handyman Service Opportunities
Homeowners and companies are increasingly outsourcing maintenance and repair work to specialists. This is due to the rising complexity of modern buildings and the requirement for specialized expertise. The aging population increases the demand for handyman services since older people require assistance with house improvements and maintenance.
The advent of internet platforms and mobile apps makes it easier for customers to find and book handyman services, boosting accessibility and convenience. The handyman service sector offers a promising landscape for entrepreneurs and service providers eager to capitalize on these prospects.
Principal Consultant
| Attributes | Details |
|---|---|
| North America Market Share - 2023 | 36.20% |
| United States Market Share - 2023 | 31.60% |
| Australia Market Share - 2023 | 3.1% |
Increasing adoption of a new type of services for technologically advanced objects and devices for the handyman services market in North America.
North America is anticipated to hold a significant market share of around 36.2% in 2023. It is anticipated to have a CAGR of 19.67% through 2033, while the United States maintains a massive chunk of the handyman services business. The growth is attributed to the higher industrial growth in the United States and mobile technology penetrating home services.
Another reason for the growth is fuelled by the higher consumption through home service and maintenance in the sector, along with surging metro cities.
| Attributes | Details |
|---|---|
| Japan Market Share - 2023 | 5.60% |
| China Market CAGR (From 2023 to 2033) | 20.40% |
| India Market CAGR (From 2023 to 2033) | 22.60% |
The Asia Pacific handyman service market is expanding and growing rapidly. With increased urbanization and the need for simple house repairs and upkeep, the demand for handyman services is experiencing a spike across the region. Homeowners and companies use Handyman services to undertake a variety of chores, such as plumbing, electrical work, carpentry, painting, and basic maintenance.
The presence of both established firms and young startups in the industry fosters healthy competition. Rising disposable incomes, changing lifestyles, and the demand for efficient and dependable services are accelerating growth in the Asia Pacific handyman service market.
| Attributes | Details |
|---|---|
| Europe Market Share - 2023 | 24.40% |
| Germany Market Share - 2023 | 7.40% |
| United Kingdom Market CAGR (From 2023 to 2033) | 17.10% |
Craft and manufacturing industry recovering from the damage done by COVID-19, fueling the demand for handyman services.
The handyman service in Europe is forecasted to hold a market share of 24.40% during the forecast period, owing to the booming industrial sector and growing demand for service and maintenance solutions.
The handyman services business not only holds the second leading market share but grows at the fastest growth rate, owing this pace to the adoption of industrial, manufacturing, and home care spaces. The new handyman brands opening are helping the market growth in the region.
| Segment | Deployment |
|---|---|
| Segment Name | Online |
| Segment Share | 63.60% |
The online segment is emerging as a leading deployment segment in the handyman services industry. Online platforms have gained significant popularity with customers' increasing digitalization and convenience-seeking behavior.
The online segment offers benefits like easy booking, transparent pricing, customer reviews, and a broader selection of handyman service providers. It caters to residential and commercial customers, providing a convenient, streamlined experience. As a result, the online segment is witnessing rapid growth and is poised to lead the deployment of services in the handyman services business.
| Segment | Repairs and Maintenance |
|---|---|
| Segment Name | Electricity |
| Segment Share | 31.10% |
Electricity repair and maintenance services are the most preferred type of handyman services in the market. This preference can be attributed to electricity's crucial role in residential and commercial settings. With the increasing reliance on electricity for various activities, people prioritize their electrical systems' proper functioning and safety.
Electrical work's complexity and potential risks prompt individuals to seek professional handymen with expertise in this area. As a result, electrical repair and maintenance services are highly demanded in the handyman services industry, reflecting the market's recognition of the importance of reliable and efficient electrical systems.
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The competition in the handyman service market is intense and dynamic. With an increase in individuals and households seeking professional assistance for home repairs and maintenance, the handyman services industry has become highly competitive. Established companies and individual contractors are vying for customers' attention, offering competitive pricing, quality service, and timely completion of projects.
To stay ahead, handyman service providers must differentiate themselves through exceptional customer service, specialized skills, innovative marketing strategies, and efficient operations to attract and retain customers in this competitive landscape.
Recent Innovations and Developments
| Company | Ace Hardware |
|---|---|
| Strategy | Ace Hardware expands services with Handyman Matters franchise acquisition |
| Details | Ace Hardware has announced its acquisition of the Handyman Matters franchise. The move expands Ace Hardware's service offering, allowing customers to access a wider range of professional home repair and maintenance services. This acquisition strengthens Ace Hardware's position in the home improvement market and enhances its customer service capabilities. |
| Company | Handyman Connection |
|---|---|
| Strategy | Handyman Connection expands its footprint in Colorado |
| Details | The opening of two new locally owned Colorado facilities by America's best home improvement business for competent and dependable handyman services. |
| Company | Mr. Handyman |
|---|---|
| Strategy | Mr. Handyman launches new offerings and expands reach |
| Details | Mr. Handyman is to launch an impressive array of new offerings, solidifying its position as a comprehensive home service provider. With a strong focus on customer satisfaction, Mr. Handyman offers an expanded range of services, including assembly, repair, carpentry, installation, tile work, exterior maintenance, painting, and drywall services. This fuels the sales of handyman services. |
The handyman service market is expected to be valued at USD 1.8 billion by 2033.
The growth potential of the market is 16.5% CAGR through 2033.
Rising demand for mobile/online bookings and tech revolution.
The market is challenged by surging labor costs and growing need for dedicated workforce.
The key market players are Mr. Handyman, Ace Handyman Services, and Handy.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 5.1. Online 5.2. Offline 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Repairs & Maintenance 6.1. Electricity 6.2. Plumbing 6.3. Non-HVAC Home Appliances 6.4. Gas 6.5. Ventilation and Air Conditioning 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 7.1. Construction 7.2. Interior Design 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Mr. Handyman 18.2. Ace Handyman Services 18.3. Handy 18.4. Handyman Connection 18.5. American Handyman Services LLC 18.6. Hambleton Handyman 18.7. Handyman Matters 18.8. Paul’s Handyman Melbourne 18.9. Branded Group 18.10. CSL Group 19. Assumptions & Acronyms Used 20. Research Methodology
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Handyman Service Market
