DIY & Hardware Store - Argentina | Statista Market Forecast

In Argentina, the DIY & Hardware Store market records a revenue of US$12.89bn in 2024.
Analysts project an annual growth rate of 2.17% (CAGR 2024-2029).
When compared globally, China leads the market with a revenue of US$785bn in 2024.
In terms of per capita figures, each person in Argentina generates a revenue of US$279.90 in 2024.
Despite economic challenges, Argentina's DIY & Hardware Store market is thriving thanks to a growing interest in home renovations and a strong DIY culture.

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 Argentina is experiencing sluggish growth due to economic challenges and low consumer spending. Factors such as high inflation rates and low disposable income are limiting the demand for products in this market. Additionally, the increasing popularity of e-commerce and online retailers is posing a threat to traditional brick-and-mortar stores. In order to stay competitive, companies in this market must focus on providing value-added services and products, as well as investing in technological advancements. Overall, the market is expected to see minimal growth in the coming years.

Customer preferences: As a result of the COVID-19 pandemic, there has been a significant increase in DIY and home renovation projects in Argentina. This trend is driven by consumers spending more time at home and wanting to improve their living spaces. Additionally, there has been a notable shift towards sustainable and eco-friendly products, as more individuals prioritize environmental consciousness in their purchasing decisions. This is reflected in the growing demand for energy-efficient appliances and solar-powered equipment in the DIY and hardware store market. Furthermore, there is a growing interest in DIY projects that promote self-sufficiency, such as creating home gardens and composting systems.

Trends in the market: In Argentina, the DIY & Hardware Store Market has seen a surge in e-commerce activity, with online sales accounting for a larger share of overall sales. This trend has been driven by the convenience and competitive pricing offered by online retailers. Additionally, there has been a rise in the use of mobile apps for home improvement and DIY projects, providing consumers with easy access to product information and inspiration. These shifts towards online shopping and digital tools are expected to continue, presenting both opportunities and challenges for traditional brick-and-mortar stores. Industry stakeholders will need to adapt and enhance their online presence and offerings in order to remain competitive in this evolving market.

Local special circumstances: In Argentina, the DIY & Hardware Store Market is heavily influenced by the country's geographical diversity. With vast rural areas and urban centers, the market caters to different consumer needs and preferences. Additionally, the DIY culture in Argentina is deeply ingrained in the country's culture, with many households opting for DIY solutions to save money. Furthermore, the market is also affected by government regulations, such as import restrictions and taxes on certain products, which can impact supply and demand. Overall, these factors contribute to the unique dynamics of the DIY & Hardware Store Market in Argentina.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Argentina is impacted by various macroeconomic factors. The country’s economic health and fiscal policies play a crucial role in determining market performance. Government initiatives such as tax incentives and subsidies for small businesses have increased the demand for DIY and hardware products. Additionally, Argentina's growing construction industry and rising disposable incomes are driving the need for home improvement and renovation, leading to the growth of the DIY & Hardware Store Market in the country.

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.