DIY & Hardware Store - Egypt

  • Egypt
  • In Egypt, the revenue in the DIY & Hardware Store market is projected to reach US$19.62bn in 2024.
  • It is anticipated that the market will experience an annual growth rate of 3.14% (CAGR 2024-2029).
  • When compared globally, in China generates the highest revenue in this market segment, with a staggering amount of US$785bn in 2024.
  • On a per person basis, the revenue generated in Egypt translates to US$171.30 in 2024.
  • Egypt's DIY & Hardware Store market is experiencing a surge in demand as more Egyptians are investing in home improvement projects.

Key regions: Worldwide, China, United States, India, Japan

 
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Analyst Opinion

The DIY & Hardware Store Market in Egypt has a relatively low growth rate due to factors such as intense competition, limited consumer spending, and political instability. However, increasing urbanization and demand for home improvement projects are driving some growth in sub-markets like Tools & Machines and Flooring. The convenience of online shopping and rising consumer awareness may also impact the overall market in the long term.

Customer preferences:
With the rising awareness about sustainable living and environmental conservation, consumers in Egypt are increasingly looking for eco-friendly and sustainable options when it comes to home improvement and DIY projects. This shift is fueled by a growing concern for the environment and a desire to reduce carbon footprint. As a result, there is a rising demand for environmentally friendly materials, such as recycled products and energy-efficient tools and equipment, in the DIY & Hardware Store Market. Additionally, the trend of upcycling and repurposing old items for home improvement projects is gaining popularity among consumers, reflecting a shift towards more mindful and resourceful consumption.

Trends in the market:
In Egypt, there is a growing trend of online shopping for home improvement and DIY products, as consumers seek more convenient and cost-effective options. This trend is expected to continue, with the rise of e-commerce and the increasing penetration of smartphones. With the recent economic challenges in the country, consumers are also looking for budget-friendly options, driving the demand for affordable and DIY solutions. This presents significant opportunities for industry players to expand their online presence and offer a wider range of products to cater to the evolving needs of consumers. Moreover, the integration of technology such as virtual reality and augmented reality in the DIY & Hardware Store Market market is likely to enhance the overall shopping experience for consumers and drive the growth of the industry. However, this trend also poses a threat to traditional brick-and-mortar stores, which may struggle to keep up with the competition. To stay competitive, these stores will need to adapt and integrate digital solutions to meet the changing consumer preferences and expectations.

Local special circumstances:
In Egypt, the DIY & Hardware Store Market is heavily influenced by the country's geographical location in North Africa, bordering the Mediterranean Sea and the Red Sea. This has led to a unique market dynamic where coastal cities have a higher demand for outdoor and marine-related hardware, while inland regions focus more on home improvement and construction materials. Additionally, cultural norms in Egypt place a high value on self-sufficiency and DIY projects, resulting in a strong market for home improvement tools and equipment. The regulatory environment also plays a role, with the government's recent efforts to promote local manufacturing and reduce reliance on imported products, leading to increased competition among hardware stores.

Underlying macroeconomic factors:
The DIY & Hardware Store Market in Egypt is greatly impacted by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The growth of the market is closely tied to the overall performance of the national economy, with a stable economy leading to increased consumer spending and demand for home improvement products. Additionally, supportive government regulations and investments in infrastructure development play a crucial role in driving market growth. Furthermore, the increasing urbanization, rising middle class, and growing construction sector in the country are key drivers for the DIY & Hardware Store Market in Egypt.

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.

Overview

  • Revenue
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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