Appliance Repair

The Appliance Repair industry specializes in the repair and servicing of household appliances and garden machinery. For the next five years, business operators will deal with customers who want to upgrade rather than restore equipment, resulting in an increase in do-it-yourself (DIY) repairs.

During this time, per capita disposable income has risen, prompting more customers to purchase new appliances rather than hiring industry operators for maintenance, resulting in a decrease in demand for industry services.

In general, higher disposable income will lead to fewer DIY projects; but, due to the increased availability of online DIY services, some users have tended to restore their own goods, reducing demand for the industry even further.

As a result, market revenue has declined by 3.8 percent on an annualized basis to $4.0 billion in the five years to 2020.

Thanks to the struggling economic environment caused by the COVID-19 (coronavirus) pandemic, market income is projected to fall by 6.3 percent in 2020 alone. Profitability in the sector has suffered as a result of declining sales.

The Appliance Repair industry is made up of businesses that mainly repair and service household appliances and home and garden machinery without selling new items.

Lawnmowers, edgers, snowblowers, leaf blowers, washing machines, clothes dryers, and refrigerators are among the items serviced by the industry.

For the five years leading up to 2020, the industry’s sales have been falling, owing in part to intense external competition. However, the sophistication of appliances, along with the disposable income and the home prices, has boosted demand for appliance repair services.

However, substantial sales losses in 2017, 2018, and 2020 have harmed the market. As a result, market income has fallen at an annualized rate of 3.8 percent to $4.0 billion over the five years to 2020, including a 6.3 percent decrease in 2020 alone due to the COVID-19 (coronavirus) pandemic.

Revenue for the Appliance Repair industry is predicted to rise over the next five years, to 2025. As the economy recovers from the COVID-19 pandemic, per capita disposable income is expected to rise by 1.2 percent annually over the next five years, beating 2019 levels.

Because of the increase in disposable income, industry demand could rise as customers engage in repairs that they may have postponed during the pandemic. However, sales growth in the sector is likely to decline as demand for delayed maintenance schemes is met.

Nonetheless, continuing increases in disposable income and the growing complexity of appliances are likely to cause customers to search out maintenance specialists rather than do their own fixes. Overall, Research predicts that market sales will rise at a 1.5 percent annualized rate to $4.3 billion in the five years to 2025.

Home and garden machinery and kitchen appliances, such as lawnmowers, edgers, snow and leaf blowers, washing machines, clothes dryers, and refrigerators, are repaired and maintained by industry operators.

This industry’s operators do not sell new machines or appliances. Automotive maintenance, as well as electrical and network repair facilities, are not included in this sector. Industry facilities are available to both companies and individuals.