Despite the negligible growth rate, the DIY & hardware store market in Israel is experiencing significant growth in the floor covering sector. This can be attributed to factors such as increasing demand for DIY projects and the convenience of online shopping. Other factors impacting this growth rate include the rising cost of materials and labor, and a slow economy.
Customer preferences: As more Israeli consumers prioritize sustainability and eco-friendliness, there has been a growing demand for environmentally-friendly flooring options within the DIY & Hardware Store Market. This includes a shift towards natural materials like bamboo and cork, as well as recycled materials such as reclaimed wood and carpet tiles. Additionally, the trend towards open floor plans and minimalist décor has led to a preference for modern and sleek flooring designs, such as polished concrete and vinyl planks.
Trends in the market: In Israel, there is a growing trend in the Floor Covering Market within the DIY & Hardware Store Market of using eco-friendly materials such as bamboo and cork for flooring. This is a response to the increasing demand for sustainable and environmentally friendly products. Additionally, there is a rising interest in DIY flooring installations, with consumers looking for easy-to-use and affordable options. These trends have significant implications for industry stakeholders, as they cater to the growing market demand for eco-conscious and convenient home improvement solutions.
Local special circumstances:
In Israel, the DIY & Hardware Store Market is heavily influenced by the country's unique geographical and cultural factors. As the population is densely concentrated in urban areas, smaller hardware stores are prevalent, making it more challenging for larger chain stores to gain a foothold. Additionally, strict regulations on importing foreign construction materials have led to a high demand for locally produced floor covering options. These factors create a competitive market landscape in which smaller, locally owned stores dominate, offering customers a wide range of affordable and quality products.
Underlying macroeconomic factors: The Floor Covering Market within the DIY & Hardware Store Market in Israel is impacted by several macroeconomic factors. The global economic trends, such as the rising demand for home renovation and improvement projects, have resulted in an increased demand for floor covering products. Furthermore, Israel's strong economic health and favorable fiscal policies have contributed to the growth of the market. Additionally, investment in the country's infrastructure, particularly in the construction sector, has also boosted the demand for floor covering products in DIY and hardware stores. Lastly, the country's high rate of homeownership and the increasing prevalence of home remodeling activities have further driven the market's growth.
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.
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