DIY & Hardware Store - Central Asia

In Central Asia, the DIY & Hardware Store market is projected to generate a revenue of US$15.79bn in 2024.
This market segment is expected to experience an annual growth rate of 3.51% (CAGR 2024-2029).
When compared globally, the highest revenue is generated China, amounting to US$785bn in 2024.
In terms of per capita income, each person in Central Asia is estimated to contribute US$199.10 in revenue in 2024.
DIY & Hardware stores in Central Asia are experiencing a surge in demand for home improvement products due to the region's growing middle class and increased focus on urban development.

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 Central Asia is experiencing a slow growth rate, influenced by factors such as low consumer awareness, limited access to digital technologies, and traditional shopping habits. Despite this, the market is expected to have modest growth due to the increasing demand for home improvement products and growing construction industry. Other factors such as rising disposable income and rapid urbanization also contribute to the market's growth. However, challenges such as imports of low-priced goods and high competition among local and international players may impact the market's overall growth rate.

Customer preferences: There is an evident shift towards sustainable and environmentally friendly products in the DIY & Hardware Store Market market, driven by growing awareness and concerns about climate change. Consumers are increasingly opting for eco-friendly materials and products, as well as those with sustainable packaging. This trend is further amplified by the younger generation, who prioritize sustainability and ethical consumption in their purchasing decisions. As a result, DIY & Hardware stores are incorporating more sustainable options in their product offerings to cater to this growing demand.

Trends in the market: In Central Asia, the DIY & Hardware Store Market is experiencing a surge in the adoption of online shopping platforms, as consumers seek convenience and a wider product selection. This trend is expected to continue, driven by the region's increasing internet penetration and e-commerce infrastructure. As a result, brick-and-mortar stores may face significant challenges and have to adapt to remain competitive. Moreover, with the rise of DIY culture, there is a growing demand for innovative and eco-friendly products in the market, leading to opportunities for companies to differentiate themselves through sustainability efforts. Overall, this trend has significant implications for industry stakeholders, who must prioritize digitalization and sustainability strategies to stay ahead in the evolving market landscape.

Local special circumstances: In Central Asia, the DIY & Hardware Store Market is influenced by the region's geographical constraints, which limit access to specialized stores and increase demand for online shopping options. Additionally, cultural norms in the region promote a DIY mindset, leading to a growing interest in home renovation and improvement projects. Regulatory policies also play a role, with government support for small businesses driving market growth. Additionally, the rising trend of sustainable and eco-friendly products has been embraced by the region, influencing consumer preferences in the DIY & Hardware Store Market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Central Asia is heavily influenced by macroeconomic factors such as economic growth, government policies, and consumer spending. The region's rapid economic development and rising disposable incomes have led to a growing demand for home renovation and improvement projects, driving the growth of the market. Furthermore, government initiatives promoting home ownership and investment in the construction industry have also contributed to the expansion of the DIY & Hardware Store Market in Central Asia. However, the market is also impacted by global economic trends and fluctuations in commodity prices, which can affect consumer purchasing power and overall business performance. Overall, the DIY & Hardware Store Market in Central Asia is expected to continue to grow, driven by the region's economic growth and favorable government policies.

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.