DIY & Hardware Store - Angola | Statista Market Forecast

in Angola, a country Africa, is no exception to the thriving DIY & Hardware Store market.
In 2024, the revenue in this market segment amounts to a staggering US$6.24bn.
Looking ahead, the market is projected to experience an annual growth rate of 4.51% from 2024 to 2029 (CAGR 2024-2029).
When comparing the global landscape, it is noteworthy that China takes the lead in generating the highest revenue in the DIY & Hardware Store market.
In 2024, China's revenue reaches a remarkable US$785bn.
Taking into account the population figures, it becomes apparent that in 2024, per person revenues of US$165.00 are generated in the DIY & Hardware Store market in Angola.
Such figures demonstrate the significance and potential of this market segment in the country.
Angola's DIY & Hardware Store market is witnessing a surge in demand for locally sourced, sustainable materials.

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 Angola has seen moderate growth due to factors such as increasing demand for home improvement products, growing construction industry, and rising consumer spending on home renovation. However, the market growth rate is being impacted by challenges such as limited access to credit, high import costs, and competition from informal home improvement vendors.

Customer preferences: Consumers in Angola are increasingly turning to DIY and hardware stores as a cost-effective way to improve their homes and personalize their living spaces. With the rise of urbanization and growth in disposable income, there has been a shift towards "do-it-yourself" culture in the country. This trend is driven by a desire for convenience and affordability, as well as the sense of satisfaction that comes from completing a project independently. Additionally, with a growing interest in sustainability and eco-friendliness, consumers are seeking out eco-friendly and sustainable options for their DIY projects. This includes using materials and products that are environmentally friendly and energy-efficient. As a result, we can expect to see a growing demand for eco-friendly and sustainable products in the DIY and hardware store market in Angola.

Trends in the market: In Angola, the DIY & Hardware Store Market is seeing a rise in e-commerce due to the increasing use of digital platforms and smartphones. This trend is expected to continue as more consumers embrace online shopping and the convenience it offers. Additionally, there is a growing demand for eco-friendly and sustainable products, driving the popularity of green DIY projects. These trends have significant implications for industry stakeholders, as they must adapt to the changing consumer behaviors and offer innovative solutions to stay competitive in the market.

Local special circumstances: In Angola, the DIY & Hardware Store Market is heavily influenced by the country's geography and infrastructure. With limited road networks and transportation options, brick-and-mortar stores face logistical challenges in reaching customers in remote areas. As a result, e-commerce is gaining traction in the market, with online platforms providing a convenient way for customers to purchase tools and supplies. Additionally, cultural factors, such as the strong sense of community and reliance on traditional building methods, may present unique challenges and opportunities for DIY stores to cater to local preferences and needs. These local factors play a significant role in shaping the market dynamics in Angola.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Angola is heavily impacted by macroeconomic factors such as the overall economic health of the country, government policies, and global economic trends. The performance of this market is closely tied to the country's GDP growth, inflation rates, and fluctuations in currency exchange rates. In recent years, Angola has witnessed a slowdown in economic growth due to low global oil prices and limited diversification of its economy. This has had a direct impact on consumer spending and the demand for DIY and hardware products. However, the government's efforts to diversify the economy and increase investment in infrastructure development are expected to drive market growth in the coming years. Additionally, the increasing urbanization and growing middle-class population in Angola are also influencing the market by creating a higher demand for housing and home improvement projects.

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.