DIY & Hardware Store - G7

The DIY & Hardware Store market in G7 is projected to generate a revenue of US$968.00bn in 2024.
It is anticipated to grow annually by 2.50% (CAGR 2024-2029).
When compared globally, in China leads in terms of revenue with US$785bn in 2024.
In relation to the total population, per person revenues of US$1,244.00 are expected to be generated in 2024.
Germany's DIY & Hardware store market is experiencing a surge in demand for eco-friendly and sustainable 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 G7 is experiencing slow growth due to factors such as saturation in mature markets, limited consumer spending on home improvement, and intense competition among sub-markets. Despite this, the market is expected to see steady growth thanks to the rising demand for sustainable and energy-efficient products, increasing DIY trends among consumers, and the convenience of online shopping.

Customer preferences: As consumers increasingly prioritize home improvement projects and do-it-yourself solutions, the DIY & Hardware Store Market is seeing a rise in demand for sustainable and eco-friendly products. This shift is driven by a growing awareness of environmental issues and a desire to reduce waste. Additionally, there is a growing interest in repurposing and upcycling old materials, as well as incorporating natural elements into home decor. This trend is indicative of a larger cultural shift towards more mindful and environmentally-conscious choices.

Trends in the market: In the DIY & Hardware Store Market, there is a notable trend towards incorporating sustainable and eco-friendly products into their offerings. This trend is driven by increasing consumer demand for environmentally responsible options and government initiatives promoting sustainable practices. Industry stakeholders are responding by expanding their product lines, sourcing from sustainable suppliers, and implementing green initiatives in their operations. This shift towards sustainability not only aligns with consumer values but also presents opportunities for cost savings and brand differentiation. However, it also brings challenges in terms of supply chain management and regulatory compliance. As such, companies must stay ahead of these trends and adapt their strategies to remain competitive in the evolving marketplace.

Local special circumstances: In the DIY & Hardware Store Market, the unique local factors vary across different regions. For instance, in China, the market is influenced by the country's rapid economic growth and urbanization, leading to an increasing demand for home improvement and renovation products. In Mexico, the market is driven by the rising popularity of DIY projects and a strong DIY culture. On the other hand, in Germany, strict regulations and quality standards for construction materials and tools shape the market. These local factors play a crucial role in shaping the market dynamics, making it essential for businesses to understand and adapt to the unique characteristics of each market.

Underlying macroeconomic factors: The DIY & Hardware Store Market is heavily impacted by macroeconomic factors such as consumer spending and national economic health. When consumers have more disposable income, they are more likely to invest in home improvement projects, leading to increased demand for DIY and hardware products. Additionally, fiscal policies that stimulate construction and housing markets also have a significant influence on the DIY & Hardware Store Market. As the global economy continues to recover and consumer confidence improves, the DIY & Hardware Store Market is expected to experience steady growth.

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.