DIY & Hardware Store - APAC

APAC

Revenue in the DIY & Hardware Store market amounts to US$1,420.00bn in 2024. The market is expected to grow annually by 2.25% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$785bn in 2024).
In relation to total population figures, per person revenues of US$331.30 are generated in 2024.

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 APAC has been experiencing sluggish growth due to several factors, including low demand for Floor Covering, Paint, Wallpaper & Supplies, Tools & Machines, and Hardware & Building Materials. The market's growth is also impacted by the increasing popularity of e-commerce platforms, which offer convenience and competitive prices. Additionally, the slowing construction industry and the shift towards sustainable and eco-friendly products have contributed to the market's modest growth rate. Despite these challenges, the market is expected to gradually recover and expand with the growing demand for home improvement and renovation projects in the region.

Customer preferences: Consumers in APAC are gravitating towards DIY and hardware stores as they seek out affordable, customizable home improvement solutions. With a growing interest in home renovation and personalization, consumers are turning to DIY and hardware stores to fulfill their creative and practical needs. This trend is also driven by changes in lifestyle, as many individuals are spending more time at home due to the pandemic. As such, DIY and hardware stores are adapting to cater to these shifts, providing a wider range of products and services to meet the diverse needs and preferences of consumers. Additionally, the rise of e-commerce and online shopping has made DIY and hardware stores more accessible and convenient, attracting a larger customer base in APAC.

Trends in the market: In the APAC region, the DIY & Hardware Store Market is experiencing a shift towards online purchasing, with major players like Bunnings and Home Depot investing heavily in their e-commerce capabilities. Additionally, there is a growing trend of using home improvement apps to access DIY tutorials, virtual consultations, and product information. These developments have allowed for greater convenience and accessibility for consumers, and are expected to continue driving growth in the industry. However, this trend also presents challenges for traditional brick-and-mortar stores, who must adapt to digital strategies to remain competitive.

Local special circumstances: In APAC, the DIY & Hardware Store Market is heavily influenced by the diverse cultural and geographical factors present in the region. For example, in China, the market is driven by the traditional DIY culture embedded in their society, leading to a high demand for DIY products and services. On the other hand, in Japan, the market is heavily regulated, impacting the operations and strategies of DIY stores. In Australia, the market is highly influenced by the country's large urban population and their preference for DIY projects, leading to a thriving market for home improvement and repair products.

Underlying macroeconomic factors: The DIY & Hardware Store Market market in APAC is heavily influenced by macroeconomic factors such as consumer spending, housing market trends, and construction activity. As the economy continues to grow in the region, the demand for home improvement and renovation products also increases. The rise in disposable income and the expanding middle class population in countries like China, India, and Indonesia are driving the growth of the DIY & Hardware Store Market market. Additionally, government initiatives to promote affordable housing and infrastructure development are further fueling the demand for DIY and hardware products in the APAC region. These factors are expected to continue driving market growth 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.