DIY & Hardware Store - Cameroon | Statista Market Forecast

In 2024, the revenue in the DIY & Hardware Store market in Cameroon amounts to US$4.67bn.
It is projected that the market will experience an annual growth rate of 3.74% (CAGR 2024-2029).
When compared globally, China generates the highest revenue in this market with US$785bn in 2024.
In terms of per person revenues, in Cameroon generates US$159.00 in 2024.
Cameroon's DIY and Hardware Store market is experiencing a surge in demand for locally sourced materials and eco-friendly products.

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 Cameroon holds limited growth potential due to economic challenges and low consumer confidence. Factors such as limited disposable income, lack of awareness about DIY solutions, and unstable construction industry are hindering the market's growth. However, initiatives promoting home improvement and increasing demand for affordable housing could drive growth in the future.

Customer preferences: As DIY and home improvement culture continues to gain traction in Cameroon, consumers are increasingly turning towards more sustainable and eco-friendly options. This trend is driven by a growing awareness of the impact of consumer choices on the environment, as well as a desire to save money in the long run. This has resulted in a rise in demand for products such as energy-efficient appliances, water-saving fixtures, and eco-friendly building materials. Additionally, there has been an increase in the popularity of DIY tutorials and workshops focused on sustainable and eco-friendly practices.

Trends in the market: In Cameroon, the DIY & Hardware Store Market is experiencing a surge in online sales, driven by the increasing availability and affordability of smartphones. This trend is expected to continue, as consumers embrace the convenience of online shopping and the wide selection of products offered by e-commerce platforms. This shift towards online shopping also presents opportunities for industry stakeholders to expand their reach and cater to a larger customer base. Additionally, there is a growing trend of using social media for marketing and customer engagement, allowing DIY & Hardware stores to connect with consumers in a more personalized and interactive manner. With the rise of technology in the market, it is crucial for industry players to invest in digital tools and platforms to stay competitive and meet the changing demands of consumers.

Local special circumstances: In Cameroon, the DIY & Hardware Store market is heavily influenced by the country's unique geographical and cultural factors. With a diverse landscape ranging from tropical rainforests to semi-arid grasslands, the demand for different types of building materials and tools varies greatly across the region. Additionally, cultural traditions and preferences also play a significant role in shaping the market, with certain areas favoring traditional building methods and materials over modern ones. Furthermore, strict regulatory policies and import restrictions affect the availability and pricing of products, creating a challenging environment for businesses.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Cameroon is heavily influenced by macroeconomic factors such as the economic health of the country, fiscal policies, and global economic trends. With the country's economy experiencing steady growth and a favorable regulatory environment, the market is expected to see strong performance. This is further supported by the increasing investment in infrastructure and the rising demand for home improvement products due to the country's growing population and urbanization. However, challenges such as limited access to finance and inadequate infrastructure in rural areas may hinder market growth. Additionally, the increasing popularity of DIY projects and the trend towards sustainable and eco-friendly products are also shaping the market's future.

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.