Building Material and Garden Equipment and Supplies Dealers Global Market Poised to Reach $2228.62 Billion By 2028, Predicts The Business Research Company

"The Business Research Company recently released a comprehensive report on the Global Building Material and Garden Equipment and Supplies Dealers Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The building material and garden equipment and supplies dealers market size has grown strongly in recent years. It will grow from $1548.38 billion in 2023 to $1671.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to home improvement projects, economic conditions, seasonal variations, technological advancements.

The building material and garden equipment and supplies dealers market size is expected to see strong growth in the next few years. It will grow to $2228.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to sustainable and eco-friendly products, home renovation trends, smart home and garden technology, aging population, infrastructure development. Major trends in the forecast period include .

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Market Drivers and Trends:

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.

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, and 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.

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Major Key Players of the Market:

The Home Depot Inc., Lowe's Companies Inc., Wesfarmers Limited, Falabella SA, Rewe Group, Steinhoff International Holdings NV, Ace Hardware Corporation, Beijing Easyhome Investment Holding Group Co. Ltd., Menard Inc., Builders FirstSource Inc., Building Materials Holding Corporation, Beacon Roofing Supply Inc., ABC Supply Co. Inc., 84 Lumber Company, Allied Building Products Corp., Fastenal Company, Ferguson Enterprises LLC, HD Supply Holdings Inc., Watsco Inc., GMS Inc., L&W Supply Corporation, US LBM Holdings Inc., BlueLinx Holdings Inc., Beacon Roofing Supply Canada Company, SRS Distribution Inc., Foundation Building Materials Inc., SiteOne Landscape Supply Inc., Pool Corporation, Tractor Supply Company, Rural King Supply Inc., At Home Group Inc., Floor & Decor Holdings Inc., Sherwin Williams Company, PPG Industries Inc., The Scotts Miracle Gro Company, Central Garden & Pet Company.

Building Material and Garden Equipment and Supplies Dealers Market 2024 Key Insights:

• The building material and garden equipment and supplies dealers market size is expected to see strong growth in the next few years. It will grow to $2228.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Positive Economic Growth Expected To Drive Building Materials And Garden Equipment And Supplies Dealers Market
• The Rising Demand For Green Building Materials
• North America was the largest region in the building material and garden equipment and supplies dealers market in 2023

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.