Bathroom Hardware - Georgia

Georgia

Highlights

In Georgia, the revenue generated in the Bathroom Hardware market in 2024 amounts to US$40.51m.
It is projected that the market will experience an annual growth rate of 2.57% (CAGR 2024-2029).
When compared to the global market, China generates the highest revenue in this segment, with US$38bn in 2024.
Taking into account the total population, the per person revenue in Georgia is estimated to be US$10.90 in 2024.
In Georgia, the bathroom hardware market is witnessing a surge in demand for traditional Georgian-inspired designs.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

In Georgia, the DIY & Hardware Store Market for Bathroom Hardware is experiencing minimal growth, influenced by factors like low consumer demand and limited product innovation. Despite this, the market remains stable due to the convenience and affordability offered by DIY projects.

Customer preferences: As the trend towards smart homes and connected devices continues to grow, there has been a rise in demand for high-tech bathroom hardware products. Consumers are now looking for technology-driven solutions that offer convenience and efficiency in their daily routines. In addition, with the growing concern for hygiene and cleanliness, there is a greater emphasis on touchless and self-cleaning features in bathroom hardware. This shift in consumer preferences is also driven by the increasing awareness and adoption of sustainable and eco-friendly products.

Trends in the market: In Georgia, the Bathroom Hardware Market within the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products. This trend is driven by consumer demand for environmentally-friendly options and government regulations promoting sustainability. Additionally, there is a growing trend of incorporating technology into bathroom hardware, such as smart faucets and temperature-controlled showers. These developments have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in innovative products to stay competitive in the market.

Local special circumstances: In Georgia, the Bathroom Hardware Market within the DIY & Hardware Store Market is influenced by the country's strong DIY culture and the preference for locally produced products. Additionally, strict building codes and regulations in the state create a demand for high-quality and durable bathroom hardware. This has led to the emergence of niche, artisanal hardware brands catering to the unique needs of the market. Georgia's booming housing market and growing population also contribute to the demand for bathroom hardware in the state.

Underlying macroeconomic factors: The Bathroom Hardware Market within the DIY & Hardware Store Market in Georgia is influenced by macroeconomic factors such as overall economic growth, consumer confidence, and government spending on infrastructure. The country's stable economic performance and ongoing investments in construction projects have resulted in a growing demand for bathroom hardware products. Moreover, the increasing number of renovation and DIY projects, driven by rising homeownership rates and a growing middle-class population, is also contributing to the growth of the market. Additionally, favorable government policies and initiatives to promote small businesses and home improvement projects are expected to further boost the market.

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.