The durable goods wholesalers market has shown robust growth, projected to increase from $24,370.91 billion in 2023 to $26,390.64 billion in 2024, achieving a CAGR of 8.3%. This expansion can be attributed to economic growth, globalization of supply chains, and increased demand from retailers. By 2028, the market is expected to reach $35,276.42 billion, with a CAGR of 7.5%. Key factors driving this growth include advancements in e-commerce, sustainable practices, and innovations in durable goods.
Major Driver In The Durable Goods Wholesalers Market
The durable goods wholesaler's market is poised for growth due to the increasing demand for e-commerce. E-commerce, involving the online buying and selling of goods and services, empowers Durable Goods Wholesalers by enhancing operational efficiency, reducing costs, and expanding their customer base. This trend is evident in the market as, in August 2023, the United States Census Bureau reported a 7.5% increase in e-commerce estimates for the second quarter, compared to the same period in 2022. Concurrently, overall retail sales rose by 0.6%, with online stores accounting for 15.4% of all sales in the second quarter of 2023. This surge in e-commerce underscores its pivotal role in propelling the durable goods wholesaler's market, aligning with a market size of X in 2023, Y in 2024, and Z in 2028.
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Durable Goods Wholesalers Market Competitive Landscape
Walmart Inc., McKesson Corporation, Xiamen C&D Inc., Lowe's Companies Inc., Wuchan Zhongda Group, Sysco Corp., Arrow Electronics, Tech Data Corporation, Medipal Holdings Corporation, United Natural Foods Inc., Ferguson plc, WPG Holdings, Avnet lnc., Genuine Parts Company, WESCO International Inc., Brenntag AG, W.W. Grainger Inc., LKQ Corporation, Graybar Electric Company Inc., Anixter International Inc., Beacon Roofing Supply Inc., Airgas Inc., Fastenal Company, HD Supply Holdings Inc., Applied Industrial Technologies Inc., MSC Industrial Direct Co.Inc., NOW Inc., DXP Enterprises Inc., Huttig Building Products Inc., Brueder Mannesmann AG, TTI lnc., Sonepar S.A., Wolseley plc, Würth Group, S.P. Richards Company, Interline Brands Inc.
Key Durable Goods Wholesalers Market Trend
In the durable goods wholesaler market, technological innovations such as wholesale platforms are emerging to boost profitability. These platforms facilitate bulk purchasing and promotion of products. For example, in April 2022, India-based CoutLoot launched a wholesale platform to connect manufacturers with retailers. The platform offers around 5,000 SKUs from 240 small and medium-sized Indian companies, providing retailers with a diverse range of products. It aims to support SMBs by offering high-demand goods and connecting distributors with producers, while being user-friendly and cost-effective.
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Durable Goods Wholesalers Market Segmentation
The durable goods wholesalers market covered in this report is segmented –
1) By Type: Motor Vehicle And Motor Vehicle Parts And Supplies Wholesalers, Furniture And Home Furnishing Wholesalers, Lumber And Other Construction Materials Wholesalers, Professional And Commercial Equipment And Supplies Wholesalers, Metal And Mineral (except Petroleum) Wholesalers, Household Appliances And Electrical And Electronic Goods Wholesalers, Hardware, And Plumbing And Heating Equipment And Supplies Wholesalers, Machinery, Equipment, And Supplies Wholesalers, Miscellaneous Durable Goods Wholesalers
2) By Ownership: Wholesale/Distribution Chain, Independent Wholesalers
3) By Price Range: Premium, Mid-Range, Economy
By Geography:The regions covered in the durable goods wholesalers market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Asia-Pacific was the largest region in the durable goods wholesalers market in 2023.
The Durable Goods Wholesalers Global Market Report 2024 furnishes information about the global durable goods wholesalers market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
