Bathroom Hardware - Australia

Australia

Highlights

In Australia, the revenue generated in the Bathroom Hardware market in 2024 amounts to AUD US$801.60m.
It is projected to grow annually by 1.21% (CAGR 2024-2029).
When compared globally, China leads with a revenue of AUD US$38bn in 2024.
In terms of per person revenue, in 2024, each individual in Australia contributes AUD US$30.02 to the Bathroom Hardware market.
The demand for high-quality bathroom hardware in Australia has surged due to the country's growing focus on home renovation and interior design.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

"The Bathroom Hardware market in the DIY & Hardware Store Market in Australia has seen minimal growth due to factors such as limited demand from the DIY sector, price competition among retailers, and consumer preference for in-store purchases over online options."

Customer preferences: Consumers in Australia are gravitating towards sustainable and eco-friendly bathroom hardware options, reflecting a growing consciousness towards environmental impact. This trend is further amplified by the government's initiatives to promote sustainable living and reduce carbon footprint. Additionally, the rise of Do-It-Yourself (DIY) culture has led to an increase in popularity of decorative and artistic bathroom hardware, catering to individualistic and creative consumer preferences.

Trends in the market: In Australia, the Bathroom Hardware Market within the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products. Manufacturers are increasingly using materials such as bamboo, cork, and recycled plastic in their bathroom hardware offerings. This trend is driven by consumer demand for environmentally responsible options and is expected to continue in the coming years. Industry stakeholders should consider incorporating more sustainable options into their product offerings to remain competitive and appeal to environmentally conscious consumers.

Local special circumstances: In Australia, the Bathroom Hardware Market within the DIY & Hardware Store Market is heavily influenced by the country's climate and lifestyle. With a strong emphasis on outdoor living and leisure, the demand for durable and weather-resistant bathroom hardware is high. Additionally, strict building regulations and codes play a significant role in the market, with a focus on water efficiency and sustainability. This has resulted in the popularity of eco-friendly and innovative bathroom hardware solutions in the Australian market.

Underlying macroeconomic factors: The Bathroom Hardware Market within the DIY & Hardware Store Market in Australia is impacted by several macroeconomic factors. Global economic trends and national economic health play a significant role in determining the overall market performance. Fiscal policies, such as tax rates and government spending, also affect consumer spending on home improvement and DIY projects. Other relevant financial indicators, such as interest rates and inflation, impact the cost of raw materials and manufacturing, which can influence market prices and profitability. Moreover, the growth of the housing market and construction industry in Australia also has a direct correlation to the demand for bathroom hardware products, further shaping the market landscape.

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.