DIY & Hardware Store - Denmark

Denmark

In Denmark, the revenue in the DIY & Hardware Store market is projected to reach US$3,574.00m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.59% (CAGR 2024-2029).
Comparing globally, in China generates the highest revenue in this market segment, with a staggering amount of US$785bn in 2024.
In terms of per capita figures, each person in Denmark is expected to generate revenues of US$601.70 in 2024.
Denmark's DIY & Hardware Store market is witnessing a surge in demand for sustainable and eco-friendly products, driven by the country's strong focus on environmental sustainability.

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

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Currency

Analyst Opinion

The DIY & Hardware Store Market in Denmark has seen minimal growth due to factors such as limited consumer spending, competition from e-commerce, and a slowdown in the construction industry. However, growth in the Floor Covering and Heating & Cooling sub-markets, as well as an increasing focus on sustainable and eco-friendly products, are driving some growth in the market. Additionally, the rising trend of home improvement and renovation projects is expected to contribute to future growth.

Customer preferences: With the increasing focus on sustainability and reducing waste, Danish consumers are gravitating towards more environmentally friendly and sustainable DIY and hardware products. This trend is driven by a growing awareness of the impact of consumer choices on the environment and a desire to support eco-friendly businesses. As a result, DIY and hardware stores are expanding their offerings to include a wider range of eco-friendly and sustainable options, such as energy-efficient tools and eco-friendly building materials. This shift reflects the cultural value placed on environmental consciousness in Denmark and the growing demand for environmentally sustainable solutions in the market.

Trends in the market: In Denmark, the DIY & Hardware Store Market has seen a rise in the use of digital tools and resources. This trend has been driven by a growing demand for convenience and efficiency, as well as the increasing availability of technology. For example, many stores now offer digital catalogs and virtual home design tools to help customers plan their projects. Additionally, there has been a rise in the use of mobile apps, such as DIY project guides and budget planning tools. These trends are significant for industry stakeholders as they provide opportunities for increased customer engagement and satisfaction, while also streamlining processes and reducing costs. Moving forward, the DIY & Hardware Store Market is likely to continue integrating digital solutions, providing a competitive edge and enhancing the overall customer experience.

Local special circumstances: In Denmark, the DIY & Hardware Store market is heavily influenced by the country's strong focus on sustainability and eco-friendly practices. This has led to a rise in demand for products and materials that are environmentally responsible. Additionally, the Danish government has imposed strict regulations on waste disposal and packaging requirements, further driving the market towards more sustainable options. The country's small size and high population density also contribute to a preference for DIY and home improvement projects, as many Danes live in smaller homes and seek to optimize their living space.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Denmark is greatly impacted by macroeconomic factors such as the country's overall economic health, government fiscal policies, and global economic trends. Denmark's stable economy, with a strong emphasis on sustainability and innovation, has created a favorable environment for the growth of the DIY & Hardware Store Market. Moreover, the government's support for DIY and home improvement projects, along with the increasing interest and investment in sustainable and eco-friendly products, has further propelled the market's growth. Additionally, the country's high disposable income and rising urbanization have also contributed to the demand for DIY and hardware products.

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.