DIY & Hardware Store - ASEAN

ASEAN

In ASEAN, the DIY & Hardware Store market is projected to generate revenue amounting to US$139.10bn in 2024.
It is expected to experience an annual growth rate of 2.85% (CAGR 2024-2029).
When compared globally, in China leads the market, generating US$785bn in 2024.
In terms of per capita revenue, individuals in ASEAN generate US$201.20 in 2024.
In Thailand, the DIY & hardware store market is experiencing a surge in 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 ASEAN has been experiencing stagnant growth due to several factors, such as slow economic growth, increasing competition, and changing consumer preferences. This has led to a negligible growth rate in the overall market, with sub-markets facing unique challenges, such as rising costs of materials and limited availability of skilled labor. Additionally, the market has been impacted by the growing popularity of online shopping and the shift towards DIY culture. While some sub-markets, such as Floor Covering and Paint, have seen a slight increase in demand, others, like Tools & Machines and Hardware & Building Materials, have faced declining sales. The market's growth rate is expected to remain low in the near future, as the industry adapts to these challenges and explores new opportunities for innovation and growth.

Customer preferences: In the rapidly growing ASEAN market, consumers are turning to DIY and hardware stores for a wider range of products and services beyond traditional building and construction materials. With an increase in home ownership and renovation projects, consumers are also looking for eco-friendly and sustainable options, reflecting a growing concern for environmental responsibility. Additionally, the rise of online shopping and delivery services has enabled consumers to conveniently access a diverse selection of products, allowing for greater customization and personalization of their home improvement projects.

Trends in the market: In the DIY & Hardware Store Market, there is a rising trend of online retailing as e-commerce platforms become increasingly popular and accessible. This trend is driven by the convenience of online shopping and the growing demand for home improvement and DIY projects. In ASEAN, there is also a growing market for smart home technology, with more consumers seeking to automate their homes for convenience and energy efficiency. These trends have significant implications for industry stakeholders, as they must adapt their business models to cater to the digital-savvy consumer and incorporate smart home technology into their offerings to stay competitive in the market. This trend is expected to continue growing, providing opportunities for new market entrants and collaborations between traditional retailers and e-commerce platforms.

Local special circumstances: In ASEAN, the DIY & Hardware Store Market is heavily influenced by cultural practices and preferences. In countries like Thailand and Indonesia, where DIY culture is not as prevalent, traditional markets and small neighborhood hardware stores still dominate. However, in countries like Singapore and Malaysia, where DIY culture is more developed, large chain stores like Home-Fix are popular. Moreover, regulations and import restrictions also play a role in the availability of certain products, such as power tools, which can vary between countries depending on safety and environmental standards. These unique factors contribute to the diversity and complexity of the DIY & Hardware Store Market in ASEAN.

Underlying macroeconomic factors: The ASEAN region's rapidly growing population and rising disposable incomes are expected to fuel the demand for DIY and hardware products in the coming years. Additionally, the increasing trend of home improvement and renovation projects, coupled with the expanding construction industry, is expected to boost the growth of the DIY and hardware store market. Moreover, favorable government initiatives promoting infrastructure development and urbanization are also likely to positively impact market growth. On a global scale, the growing trend towards DIY culture, coupled with the increasing adoption of smart home technologies, is expected to drive the demand for DIY and hardware products in the ASEAN region. Additionally, the rising popularity of online retail channels and the overall growth of the e-commerce market are also expected to contribute to the growth of the DIY and hardware store market in the region.

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.