DIY & Hardware Store - Burundi | Statista Market Forecast

In 2024, the revenue in the DIY & Hardware Store market in Burundi amounts to US$1.88bn.
It is projected that the market will experience an annual growth rate of 3.74% (CAGR 2024-2029).
When compared to other countries worldwide, China generates the highest revenue in this sector, with a total of US$785bn in 2024.
Taking into account the population figures, the per person revenue in Burundi is estimated to be US$138.40 in 2024.
Burundi's DIY & Hardware store market is experiencing a surge in demand for locally sourced and affordable construction materials.

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.

Tools such as power tools and hand tools
Hardware such as products related to safety and security
Lawn & Garden such as gardening tools and plant supplies
Heating & Cooling systems such as air conditioners and heaters
Bathroom fixtures such as toilets, faucets, and sinks
Floor Coverings such as parquet panels

Electrical supplies such as power inlets and extension cords
Household appliances such as refrigerators and dishwashers
Hardware services such as preventitive maintenance contracts
Professsional contruction machinery such as cement mixers
Air treatment devices such as purifiers and humidifiers

The DIY & Hardware Store market in Burundi has been experiencing slow growth, due to factors such as limited access to technology, low consumer awareness, and lack of convenience in purchasing hardware and building materials. This is evident in the negligible growth rate of the market. Efforts to improve infrastructure and increase awareness could drive future growth in the market.

Customer preferences: Consumers in Burundi are increasingly turning to DIY and hardware stores for their home improvement needs, driven by a growing interest in home renovation and remodeling. This trend is fueled in part by cultural values that place importance on maintaining and improving one's home. Additionally, as the country experiences demographic shifts with a growing urban population and a rise in disposable income, more people are investing in their homes and seeking out DIY solutions for cost-effective home improvement projects. Furthermore, as lifestyles become more fast-paced and hectic, there is a desire for easy and accessible solutions for home repair and maintenance. This has led to an increase in demand for online DIY tutorials and instructional videos, as well as the availability of DIY and hardware store products through e-commerce platforms.

Trends in the market: In Burundi, the DIY & Hardware Store market is experiencing a surge in online sales and delivery services, with consumers opting for convenience and safety amid the ongoing COVID-19 pandemic. This trend is expected to continue in the future as e-commerce continues to grow in popularity. Additionally, there is a growing demand for sustainable and eco-friendly products, as consumers become more environmentally conscious. These trends have significant implications for industry stakeholders, who must adapt to the changing market landscape and find innovative ways to reach and serve their customers.

Local special circumstances: In Burundi, the DIY & Hardware Store Market is heavily influenced by the country's geography, with most of the population living in rural areas. This has led to a unique market dynamic, with a focus on affordable and locally sourced building materials. Additionally, the country's culture plays a significant role, with a strong emphasis on DIY projects and self-sufficient living. Due to limited regulations, informal markets and independent sellers thrive in Burundi, making it a challenging but potentially rewarding market for larger hardware stores.

Underlying macroeconomic factors: The DIY & Hardware Store Market market in Burundi is heavily impacted by macroeconomic factors, such as the country's overall economic health, fiscal policies, and global economic trends. Burundi's economy has been facing challenges due to ongoing political instability and high levels of poverty. This has resulted in lower consumer purchasing power and slowed market growth. Additionally, fiscal policies and regulations related to imports and exports can also impact the availability and pricing of products in the market. As the country works towards improving its economic stability, the DIY & Hardware Store Market market may experience fluctuations in demand and growth.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Building and renovating homes involves general contractors and subcontractors who build new homes and remodel existing homes. Home renovation projects also encompass the remodeling of external structures such as gardens, garages, and lawns. The total U.S. home improvement expenditure amounted to 566 billion U.S. dollars in 2022. Homeowners undertake home improvement to make residential properties more comfortable, upgrade air conditioning and heating systems, waterproof roofs and basements, soundproof rooms, and to extend their homes and boost energy savings.