Bathroom Hardware - Ghana

Ghana

Highlights

In Ghana, the revenue generated in the Bathroom Hardware market is estimated to reach US$288.60m in 2024.
It is projected to experience an annual growth rate of 3.17% (CAGR 2024-2029).
When compared to other countries worldwide, China leads the market with revenues of US$38bn in 2024.
In terms of per capita income, each person in Ghana is expected to generate US$8.30 in revenue in 2024.
The demand for modern and stylish bathroom hardware products is rapidly increasing in Ghana, driven by the country's growing middle class and their desire for contemporary home furnishings.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Despite negligible growth, the Bathroom Hardware Market in Ghana has been steadily expanding within the DIY & Hardware Store Market. This can be attributed to the increasing demand for DIY projects, rising disposable income of consumers, and the convenience of online shopping for bathroom hardware. However, the slow growth rate may be impacted by a lack of advanced technology and limited availability of quality products in the market.

Customer preferences: In Ghana, a growing trend in the Bathroom Hardware Market within the DIY & Hardware Store Market is the rising demand for eco-friendly and sustainable products. This shift in consumer preference is influenced by the country's efforts towards environmental conservation and the adoption of more environmentally friendly lifestyles. Furthermore, there has been an increase in the popularity of DIY home improvement projects, with consumers seeking affordable and easy-to-use bathroom hardware options. The rise of social media influencers and home renovation shows has also played a role in promoting this trend. Additionally, there is a growing preference for unique and aesthetically pleasing bathroom hardware designs, reflecting the country's cultural appreciation for creativity and individuality.

Trends in the market: In Ghana, the Bathroom Hardware Market within the DIY & Hardware Store Market is experiencing a surge in demand for eco-friendly and sustainable products. This trend is driven by increasing awareness of environmental issues and a growing preference for green living among consumers. As a result, there is a rise in the availability of eco-friendly bathroom hardware options, such as low-flow showerheads and water-efficient toilets. This trend is expected to continue, with potential implications for industry stakeholders to focus on developing and promoting sustainable products to meet consumer demand.

Local special circumstances: In Ghana, the Bathroom Hardware Market within the DIY & Hardware Store Market is heavily influenced by cultural preferences for traditional, durable fixtures. This contrasts with other markets, where modern, trendy designs are more popular. Additionally, the country's limited infrastructure and unreliable utility services impact purchasing decisions, with consumers choosing more robust products. These factors also drive the demand for DIY solutions, as repairs and replacements are often necessary due to infrastructure challenges.

Underlying macroeconomic factors: The Bathroom Hardware Market within the DIY & Hardware Store Market in Ghana is significantly impacted by macroeconomic factors. The country's economic health, global economic trends, fiscal policies, and other financial indicators significantly influence the market performance. Ghana's stable economic growth and supportive regulatory environment have led to increased investment in the DIY and hardware industry, driving market growth. The rising demand for home improvement products, coupled with the growing construction industry, has also contributed to the market's growth. Additionally, the increasing urbanization and overall growth of the Ghanaian economy have increased disposable income, leading to a higher demand for bathroom hardware products within the DIY & Hardware Store 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.