DIY & Hardware Store - Americas

Americas

In Americas, the revenue in the DIY & Hardware Store market is estimated to reach US$838.30bn in 2024.
It is projected to experience an annual growth rate of 2.46% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue, amounting to US$785bn in 2024.
Taking into account the total population, the per-person revenues in Americas are expected to be US$824.40 in 2024.
In the United States, the trend in the DIY & Hardware Store market is a growing demand for eco-friendly and sustainable products.

Key regions: Worldwide, China, United States, India, Japan

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The DIY & Hardware Store market in the Americas is experiencing minimal growth, influenced by factors such as a slowdown in the construction industry and growing competition from e-commerce retailers. Consumer demand for convenient and affordable home improvement solutions is also driving market growth. Furthermore, the increasing trend of DIY projects and home renovations is contributing to the overall growth of the market. However, fluctuating raw material prices and changing consumer preferences towards sustainable and eco-friendly options are expected to impact the market growth in the forecast period.

Customer preferences: As consumer awareness about environmental issues grows, there has been a shift towards "green" and sustainable products in the DIY & Hardware Store Market. This trend is fueled by a desire for eco-friendly solutions and a sense of responsibility towards the planet. Additionally, there has been an increase in demand for products that cater to the DIY mindset, as more individuals seek cost-effective and customizable options for home improvement projects. These changes are also reflective of a younger, tech-savvy demographic that values convenience and experimentation.

Trends in the market: In the Americas, there is a notable trend of increasing demand for eco-friendly and sustainable products in the DIY & Hardware Store market. Consumers are becoming more environmentally conscious and are seeking out products that align with their values. This trend is expected to continue as more consumers prioritize sustainability in their purchasing decisions. Additionally, there is a rising popularity of smart home products in the market, including connected thermostats, smart lighting, and virtual assistants. This trend is driven by the convenience and energy-saving benefits that these products offer. As a result, industry stakeholders are embracing these trends by expanding their product offerings and investing in research and development to meet the evolving demands of the market. These trends also present opportunities for companies to differentiate themselves and establish a competitive edge in the market. However, it may also pose challenges for smaller businesses and traditional brick-and-mortar stores that may struggle to adapt to these changes in consumer preferences. Overall, the growing demand for eco-friendly and smart home products is set to shape the future of the DIY & Hardware Store market in the Americas.

Local special circumstances: In the Americas, the DIY & Hardware Store market is influenced by the unique geographical and cultural factors specific to each country. For instance, in Canada, the rising trend towards sustainable living has led to a surge in demand for eco-friendly home improvement products. In Mexico, the market is driven by the strong DIY culture and the need for affordable home renovation options. In contrast, in Brazil, strict government regulations on construction materials have created a demand for budget-friendly DIY solutions. These factors greatly impact the dynamics of the DIY & Hardware Store market in the region.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Americas is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. With the region experiencing steady economic growth and rising disposable incomes, there is a growing demand for home improvement and renovation products. Additionally, policies that promote small businesses and entrepreneurship, coupled with easy availability of tools and materials, have led to a thriving DIY culture, further boosting the market growth. However, challenges such as trade conflicts and fluctuating commodity prices may impact the market in the coming years.

Methodology

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.