DIY & Hardware Store - Algeria | Statista Market Forecast

In Algeria, the revenue generated in the DIY & Hardware Store market is estimated to reach US$8.72bn in 2024.
It is projected to experience an annual growth rate of 2.07% (CAGR 2024-2029).
When compared to other countries around Worldwide, China leads the market with a revenue of US$785bn in 2024.
Taking into account the total population, the per person revenue in Algeria is approximately US$188.40 in 2024.
Algeria's DIY & hardware store market is experiencing a surge in demand as the country's construction industry continues to grow rapidly.

Definition:

The DIY (Do-It-Yourself) market refers to the retail market for products used in home improvement and repair projects, such as tools, hardware, building materials, and lawn and garden products. These products are marketed to consumers who want to perform home improvement projects on their own rather than hire a professional. The DIY market provides consumers with the materials and tools they need to complete projects ranging from simple repairs to complete renovations, allowing them to save money and express their creativity in their living spaces.

Structure:

The market is divided into seven different segments:

The Paint, Wallpaper & Supplies segment includes products used for interior and exterior decoration, renovation, and protection of residential buildings.
The Tools & Machines segment consist of products used for construction, maintenance, and repair tasks.
The Hardware & Building Materials segment includes a diverse range of products that play an important role in the structure, safety, and functionality of a building.
The Lawn & Garden segment encompasses products that help homeowners and landscapers to create and maintain attractive and functional outdoor living spaces.
The Heating & Cooling segment focuses on produts that help regulate indoor temperatures, ensuring comfort, energy efficiency, and air quality in homes.
The Bathroom Hardware segment includes products designed to enhance the functionality and appearance of bathrooms.
The Floor Covering segment encompasses products that serve to protect the floor, enhance the appearance of the room, provide insulation and comfort, and can add value to a property.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

Tools such as power tools and hand tools
Hardware such as products related to safety and security
Lawn & Garden such as gardening tools and plant supplies
Heating & Cooling systems such as air conditioners and heaters
Bathroom fixtures such as toilets, faucets, and sinks
Floor Coverings such as parquet panels

Electrical supplies such as power inlets and extension cords
Household appliances such as refrigerators and dishwashers
Hardware services such as preventitive maintenance contracts
Professsional contruction machinery such as cement mixers
Air treatment devices such as purifiers and humidifiers

The DIY & Hardware Store Market in Algeria has seen a slower growth rate due to factors such as economic instability and limited consumer disposable income. However, the increasing trend of home renovation and repair projects, along with the convenience of online shopping, is expected to drive market growth in the coming years.

Customer preferences: With the rise of DIY culture and increasing interest in home improvement, consumers in Algeria are now seeking innovative and cost-effective solutions for their DIY projects. This has led to a surge in demand for digital tools and resources such as DIY tutorials, online project planning tools, and virtual consultations with experts. This trend is driven by the desire for convenience, affordability, and the need for solutions that cater to diverse skill levels and budget constraints.

Trends in the market: In Algeria, the DIY & Hardware Store market is seeing a surge in online sales and e-commerce platforms, with more consumers turning to digital channels for their home improvement needs. Additionally, there is a growing trend of DIY enthusiasts turning to social media and online tutorials for project ideas and tips. This shift towards digital platforms is significant as it allows for increased accessibility and convenience for customers. It also presents opportunities for industry players to expand their reach and tap into the growing digital market. However, it may also pose challenges for traditional brick-and-mortar stores, as they may struggle to keep up with the pace of this digital transformation. Thus, it is crucial for stakeholders to adapt and innovate to stay competitive in this evolving market.

Local special circumstances: In Algeria, the DIY & Hardware Store market faces unique challenges, such as limited infrastructure and a reliance on traditional construction methods. This has led to a slower adoption of DIY culture compared to other markets. The country's geography also plays a role, as the predominantly rural population is spread across a large land area, making logistics and distribution challenging. Additionally, cultural norms favor DIY projects being done by professionals, limiting the potential for growth in this market segment. However, the government's focus on infrastructure development and housing projects is expected to drive demand for DIY and hardware products in the coming years.

Underlying macroeconomic factors: The DIY & Hardware Store market in Algeria is heavily impacted by macroeconomic factors such as the country's overall economic health and policies. The recent decline in oil prices has significantly affected Algeria's economy, leading to a slowdown in consumer spending and a decrease in government funding for infrastructure projects. However, the government's efforts to diversify the economy and attract foreign investment are expected to drive market growth in the long term. Additionally, the increasing trend of DIY projects and home improvement in the region is expected to boost the demand for hardware and building materials, creating opportunities for the market.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Building and renovating homes involves general contractors and subcontractors who build new homes and remodel existing homes. Home renovation projects also encompass the remodeling of external structures such as gardens, garages, and lawns. The total U.S. home improvement expenditure amounted to 566 billion U.S. dollars in 2022. Homeowners undertake home improvement to make residential properties more comfortable, upgrade air conditioning and heating systems, waterproof roofs and basements, soundproof rooms, and to extend their homes and boost energy savings.