Market Insights Consumer DIY & Hardware Store

Floor Covering - Jordan

Jordan

The Floor Covering market in Jordan is projected to generate a revenue of US$15.10m in 2024.
It is anticipated to experience an annual growth rate of 2.90% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation with US$5,989m in 2024.
In relation to the total population, each person in Jordan is expected to contribute US$1.33 in revenue in 2024.
The demand for traditional handmade rugs in Jordan remains strong, reflecting the country's rich cultural heritage and appreciation for artisanal craftsmanship.

Key regions: India, Turkey, China, Japan, Indonesia

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Analyst Opinion

The DIY & Hardware Store Market in Jordan nan is experiencing negligible growth, impacted by factors such as a slow economy and saturation in the market. Despite this, the Floor Covering Market within this industry continues to see steady demand as consumers prioritize home improvement and renovation projects.

Customer preferences: As Jordanian households continue to embrace DIY projects and home improvement, there has been a noticeable increase in demand for sustainable and environmentally friendly floor covering options. This trend is likely influenced by the country's growing awareness of climate change and environmental sustainability. In addition, the rise in urbanization and smaller living spaces has also led consumers to prioritize easy and cost-effective installation options, such as click-lock flooring, which has gained popularity in the DIY & Hardware Store Market.

Trends in the market: In Jordan, the Floor Covering Market within the DIY & Hardware Store Market is experiencing a rise in eco-friendly and sustainable flooring options. This trend is driven by consumers' increasing demand for environmentally-friendly products, as well as government initiatives promoting sustainable development. As a result, DIY and hardware stores are starting to offer a wider range of sustainable flooring options such as bamboo, cork, and recycled materials. This trend is expected to continue, as the demand for sustainable products shows no signs of slowing down, and industry stakeholders who adapt to this trend will likely see increased sales and customer loyalty.

Local special circumstances: In Jordan, the Floor Covering Market within the DIY & Hardware Store Market is heavily influenced by the country's geographical location as a major trading hub in the Middle East. This leads to a diverse range of flooring options available, catering to various cultural preferences and styles. Additionally, government regulations and building codes play a significant role in shaping the market, with strict guidelines for safety and sustainability. The market also sees a strong demand for DIY solutions, driven by a culture of self-sufficiency and cost-saving measures.

Underlying macroeconomic factors: The Floor Covering Market within the DIY & Hardware Store Market in Jordan is impacted by macroeconomic factors such as the country's economic health, government policies, and global economic trends. For instance, fluctuations in the national economy, such as changes in interest rates, can affect consumer spending and, in turn, the demand for floor covering products in the market. Moreover, the ongoing global economic uncertainty and the pandemic's impact on the construction industry may also influence the overall performance of the market. Additionally, government fiscal policies, such as tax incentives for home improvement projects, can stimulate market growth, while regulatory challenges or limited investment in infrastructure could hinder market growth in the 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.