DIY & Hardware Store - CIS

In 2024, the revenue in the DIY & Hardware Store market in CIS amounts to US$52.51bn.
It is projected that the market will experience an annual growth rate of 2.45% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market segment, with US$785bn in 2024.
In terms of per person revenues, the CIS region generates US$216.40 in 2024.
In the CIS region, the DIY & Hardware Store market is experiencing a surge in demand for locally sourced and eco-friendly products.

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 CIS is experiencing slow growth, influenced by factors like economic instability, traditional consumer habits, and competition from online retailers. Despite this, the market is expected to see steady growth due to strong demand for home improvement products and the growing popularity of DIY projects.

Customer preferences: In the DIY & Hardware Store Market market, there is a growing preference for sustainable and eco-friendly products. This trend is fueled by an increasing awareness of the negative impact of traditional home improvement materials on the environment. Consumers are seeking out products that are made from renewable or recycled materials and are non-toxic. This shift towards eco-friendliness is also driven by the rise in popularity of "green" home improvement projects, such as energy-efficient renovations and the use of solar power. This trend is expected to continue as sustainability becomes a more important factor in consumer purchasing decisions.

Trends in the market: In the CIS and DIY & Hardware Store Market, there is a notable trend towards omnichannel retailing as businesses seek to cater to the changing purchasing habits of consumers. This involves integrating online and offline platforms to provide a seamless shopping experience for customers. Additionally, there is a growing emphasis on sustainability and eco-friendliness in the industry, with more stores offering organic and eco-friendly products. These trends are expected to continue and have significant implications for industry stakeholders, as they must adapt to meet the evolving needs and preferences of consumers.

Local special circumstances: In the CIS region, the DIY & Hardware Store Market holds vast potential due to the high demand for home improvement products and the growth of the construction industry. However, the market faces challenges such as political instability in certain countries and a lack of standardization in building regulations. In Russia, the market is driven by the rise of urbanization and the trend of DIY projects among consumers. In Kazakhstan, the market is influenced by the flourishing oil and gas industry, leading to a demand for specialized hardware products.

Underlying macroeconomic factors: The DIY & Hardware Store Market is heavily influenced by macroeconomic factors such as consumer spending, interest rates, and unemployment rates. In countries with stable and growing economies and low unemployment, the demand for DIY and hardware products is typically higher due to increased disposable income and confidence in making home improvements. On the other hand, countries with struggling economies and high unemployment rates may see lower demand for DIY and hardware products as consumers are more likely to prioritize basic living expenses over home renovations. The health of the construction industry also plays a significant role in the DIY & Hardware Store Market, as a strong construction market leads to more demand for building and renovation materials. Government fiscal policies, such as tax incentives for home improvements, can also impact the DIY & Hardware Store Market by encouraging or discouraging consumer spending in this sector. Overall, the performance of the DIY & Hardware Store Market is closely tied to the overall macroeconomic environment in a given country.

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.