DIY & Hardware Store - Gabon

Gabon

In Gabon, the revenue of the DIY & Hardware Store market in 2024 reaches US$556.20m.
It is projected to experience an annual growth rate of 3.35% (CAGR 2024-2029).
Comparing globally, in China generates the highest revenue, amounting to US$785bn in 2024.
When taking into account the total population, per person revenues reach US$223.90 in 2024.
Gabon's DIY & Hardware Store market is experiencing a surge in demand for locally sourced, sustainable materials.

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 Gabon is currently experiencing a slow growth rate, influenced by factors such as low consumer awareness and limited access to digital technologies. However, with the increasing development of infrastructure and rising demand for home improvement, there is potential for significant growth in the sub-markets of floor covering, paint, tools, and hardware & building materials. Additionally, the convenience of online shopping and the growing trend of DIY projects could also drive the market's growth in the near future.

Customer preferences: As the availability of products and services in Gabon's DIY & Hardware Store Market continues to expand, consumers are increasingly looking for convenient and time-saving solutions. This has led to a rise in demand for online shopping and digital resources, such as virtual consultations with home improvement experts and DIY tutorials. Additionally, with an increasing focus on sustainability and eco-friendly practices, there has been a shift towards ethically-sourced materials and products in the market.

Trends in the market: In Gabon, the DIY & Hardware Store Market is seeing a rise in e-commerce as more consumers turn to online shopping for convenience and safety. With the increasing availability of mobile devices and internet connectivity, the trend of making purchases through digital channels is expected to continue on an upward trajectory. This presents an opportunity for industry stakeholders to invest in online platforms and enhance their digital presence to capture a larger customer base. However, traditional brick-and-mortar stores may face challenges in adapting to this trend and may need to re-evaluate their business models.

Local special circumstances: In Gabon, the DIY & Hardware Store Market is heavily influenced by the country's geographical location and limited infrastructure. Due to its dense rainforests, transportation and distribution of goods can be challenging, resulting in increased prices for materials. Additionally, cultural norms and purchasing habits also impact market dynamics as customers often prefer purchasing from traditional markets rather than larger retail stores. The government's strict regulations on imports also play a key role in the market, creating barriers for new players and limiting competition. These unique factors contribute to the slow growth of the market, compared to other countries in the region such as Nigeria and Cameroon.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Gabon is greatly impacted by macroeconomic factors such as the country's economic stability, government regulations, and investment in infrastructure. With the rising demand for home improvement and construction projects, a stable economy and favorable regulatory environment can lead to a growing market. Additionally, increased investment in infrastructure can improve access to materials and tools, providing opportunities for growth in the market. However, economic instability and strict regulations can hinder market development, especially for smaller businesses.

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.