DIY & Hardware Store - Belarus

Belarus

In Belarus, the DIY & Hardware Store market generates a revenue of US$1,885.00m in 2024.
It is projected to experience an annual growth rate of 2.43% (CAGR 2024-2029).
When compared to other countries worldwide, in China leads the market with a revenue of US$785bn in 2024.
In terms of per capita figures, the revenue generated per person in Belarus amounts to US$199.30 in 2024.
Despite economic challenges, the DIY & Hardware Store market in Belarus is thriving due to a strong demand for home improvement projects and a DIY culture among its citizens.

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 Belarus is facing stagnant growth, influenced by factors such as economic instability and low consumer spending. Despite a growing demand for home improvement products, the market is hindered by high inflation rates, limited access to credit, and a preference for traditional purchasing methods. Additionally, the fragmented nature of the market and strong competition from local and international players further contribute to the slow growth rate. However, with the increasing trend towards DIY projects and the rise of e-commerce, the market may see a potential for growth in the future.

Customer preferences: In Belarus, DIY and hardware stores are seeing an increase in demand for sustainable and eco-friendly building materials. Consumers are also gravitating towards products that offer long-term value, such as energy-efficient appliances and smart home solutions. This trend is influenced by a growing concern for the environment and a desire for cost-effective solutions. Additionally, with the rise of online shopping and home delivery services, convenience is becoming a key factor in purchasing decisions for DIY and hardware products.

Trends in the market: In Belarus, the DIY & Hardware Store Market has seen a surge in online sales, with more consumers turning to e-commerce platforms for their home improvement needs. This trend is likely to continue as the country's digital infrastructure continues to develop and consumers become more comfortable with online shopping. Additionally, there is a growing emphasis on environmentally-friendly and sustainable products, with many stores offering eco-friendly options to cater to this demand. These trends have significant implications for industry stakeholders, as they must adapt their business models and strategies to meet the changing consumer preferences. For example, brick-and-mortar stores may need to invest in their online presence and delivery services, while manufacturers may need to shift towards producing more sustainable products.

Local special circumstances: In Belarus, the DIY & Hardware Store Market is driven by the country's strong agriculture and manufacturing industries. The harsh, cold climate also creates a high demand for tools and equipment for winterizing homes and agricultural machinery. Additionally, the government's policies on self-sufficiency and support for small business owners have led to the growth of local hardware stores, often run by families. These unique factors create a different market dynamic compared to other countries, with a focus on catering to the specific needs and preferences of the local population.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Belarus is affected by macroeconomic factors such as the country's economic stability and growth prospects, as well as global economic trends and fiscal policies. The overall economic condition of Belarus plays a significant role in the performance of the market, with a stable and growing economy providing a favorable environment for the DIY & Hardware Store Market. In addition, government initiatives and investments in infrastructure development and construction projects also impact the demand for DIY and hardware-related products. The country's GDP and consumer spending also influence market growth, as a higher GDP and increased purchasing power lead to higher demand for DIY and hardware products. Furthermore, any changes in import/export regulations, trade policies, and tax policies can also affect the market's performance. Therefore, it is essential to closely monitor macroeconomic factors in Belarus to accurately predict and respond to market trends and opportunities.

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.