DIY & Hardware Store - Brunei Darussalam

Brunei Darussalam

In Brunei Darussalam, the revenue in the DIY & Hardware Store market reached US$248.00m in 2024.
It is projected that this market will experience an annual growth rate of 3.06% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this sector, amounting to US$785bn in 2024.
Taking into account the total population figures, the per person revenue generated in Brunei Darussalam is US$544.10 in 2024.
Brunei Darussalam's DIY & Hardware Store market is thriving, with a growing demand for high-quality tools and materials.

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 Brunei Darussalam has experienced minimal growth due to factors such as limited consumer awareness and competition from traditional brick-and-mortar stores. However, the convenience of online shopping and increasing focus on home improvement could potentially drive future growth in this market.

Customer preferences: As consumer awareness on environmental sustainability grows, there is a growing demand for eco-friendly and sustainable products in the DIY & Hardware Store Market in Brunei Darussalam. This trend is driven by a shift towards conscious consumerism, with individuals seeking out products that have minimal impact on the environment. Moreover, there is a growing trend of DIY enthusiasts exploring repurposing and upcycling materials to reduce waste and promote a circular economy. This trend is also fueled by the increasing availability of eco-friendly DIY materials and tools in the market.

Trends in the market: In Brunei Darussalam's DIY & Hardware Store Market, there is a noticeable shift towards environmentally friendly products, such as sustainable building materials, energy-efficient tools, and eco-friendly paints. This trend is driven by growing awareness and concern for the environment, and is expected to continue on an upward trajectory. For industry stakeholders, this trend presents opportunities for new product development and marketing strategies. However, it also poses challenges, such as increased competition and the need to adapt to changing consumer preferences. Overall, this trend highlights the importance of sustainability in the DIY & Hardware Store Market and urges industry players to incorporate eco-friendly practices into their operations.

Local special circumstances: In Brunei Darussalam, the DIY & Hardware Store Market is heavily influenced by the country's small size and high income levels. The market is dominated by local players who cater to the affluent population, resulting in high prices for hardware products. Brunei's cultural preferences for traditional, handmade products also play a role in shaping the market, with a focus on quality and durability over mass-produced items. Additionally, government regulations limit the import of foreign goods, providing local hardware stores with a competitive advantage.

Underlying macroeconomic factors: The DIY & Hardware Store market in Brunei Darussalam is impacted by macroeconomic factors such as the country's overall economic health, consumer spending trends, and government fiscal policies. In addition, global economic trends also play a role in shaping market performance. Countries with strong economic growth and stable political environments tend to have a higher demand for DIY and hardware products, leading to market growth. Furthermore, investments in infrastructure development and housing projects can also boost demand for products sold by DIY and hardware stores. On the other hand, economic uncertainties and fluctuations in consumer spending can negatively impact the market in Brunei Darussalam.

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.