Global Building Material and Garden Equipment Market to Reach $2,036.98 Billion by 2027

The Business Research Company's Building Material And Garden Equipment And Supplies Dealers Market Report 2023 – Market Size, Trends, And Forecast 2023-2032

LANDON, GREATER LANDON, UK, December 7, 2023 /EINPresswire.com/ -- The global building material and garden equipment and supplies dealers market is experiencing robust growth, set to increase from $1,427.99 billion in 2022 to $1,546.1 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 8.3%. Despite challenges from the Russia-Ukraine conflict and lingering effects of the COVID-19 pandemic, the market is anticipated to reach $2,036.98 billion by 2027, with a CAGR of 7.1%.
Economic Growth and Recovering Commodity Prices Drive Market Expansion

The building material and garden equipment and supplies dealers market are poised to benefit from the steady economic growth projected for developed and developing countries. The International Monetary Fund (IMF) reported a global GDP growth of 3.3% in 2020 and 3.4% in 2021. As commodity prices rebound after a historic decline, significant economic growth is expected. The US economy is forecasted for stable growth, and emerging markets are expected to outpace developed markets, driving public and private investments, joint ventures, and foreign direct investments. This economic growth is set to propel the market forward during the forecast period.

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Key Players and Market Dynamics

Major players in the building material and garden equipment and supplies dealers market, including 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, play a crucial role in shaping the industry landscape. The market faced substantial challenges due to the COVID-19 pandemic, with disrupted supply chains and decreased consumption during global lockdowns. However, the market is expected to recover, considering the temporary nature of the pandemic's impact.

Green Building Materials on the Rise
Rising environmental awareness is driving the demand for green building materials, characterized by sustainability, low carbon footprint, and reduced exposure to toxic chemicals. These materials, known for their moisture resistance, energy efficiency, and minimal production waste, align with the growing building material and garden equipment and supplies dealers market trend of environmentally conscious construction. Consumers are increasingly opting for locally made, refurbished, or remanufactured materials, fostering a shift toward sustainable and resilient building practices.

Segments:
• By Type: Building Material and Supplies Dealers, Lawn and Garden Equipment and Supplies Stores
• By Ownership: Retail Chain, Independent Retailer
• By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store

Regional Insights: North America Leads, Asia-Pacific Follows
North America emerged as the largest region in the building material and garden equipment and supplies dealers market in 2022, with Asia-Pacific securing the second-largest position. A detailed exploration of regional dynamics, market trends, and growth opportunities is available in the comprehensive report.

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Building Material and Garden Equipment and Supplies Dealers Global Market Report 2023from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Building Material and Garden Equipment and Supplies Dealers Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on building material and garden equipment and supplies dealers market size, building material and garden equipment and supplies dealers market drivers and building material and garden equipment and supplies dealers market trends, building material and garden equipment and supplies dealers market major players, competitors' revenues, market positioning, and building material and garden equipment and supplies dealers market growth across geographies. The building material and garden equipment and supplies dealers market report helps you gain in-depth insights on building material and garden equipment and supplies dealers market opportunities and building material and garden equipment and supplies dealers market strategies. Companies can leverage the data in the building material and garden equipment and supplies dealers market report and tap into segments with the highest building material and garden equipment and supplies dealers market growth potential.

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