DIY & Hardware Store - GCC | Statista Market Forecast

In 2024, the DIY & Hardware Store market in the GCC generated a revenue of US$33.34bn.
It is projected to experience a yearly growth rate of 3.14% (CAGR 2024-2029).
Comparing globally, China leads in revenue generation with a staggering US$785bn in 2024.
When considering the population, the per capita revenue in 2024 amounted to US$552.30.
GCC consumers are increasingly turning to DIY and hardware stores in order to tackle home improvement projects themselves, driven by a desire for cost savings and the satisfaction of completing tasks independently.

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.

Tools such as power tools and hand tools
Hardware such as products related to safety and security
Lawn & Garden such as gardening tools and plant supplies
Heating & Cooling systems such as air conditioners and heaters
Bathroom fixtures such as toilets, faucets, and sinks
Floor Coverings such as parquet panels

Electrical supplies such as power inlets and extension cords
Household appliances such as refrigerators and dishwashers
Hardware services such as preventitive maintenance contracts
Professsional contruction machinery such as cement mixers
Air treatment devices such as purifiers and humidifiers

The DIY & Hardware Store market in GCC is seeing slow growth due to factors such as economic uncertainty, high competition, and limited consumer spending. However, the market is expected to pick up in the future with increased awareness of home improvement and convenience of online shopping. Sub-markets such as Floor Covering and Tools & Machines are driving growth, while Paint, Wallpaper & Supplies are facing challenges due to the decline in construction activity. Overall, the market is expected to see a steady but modest growth in the coming years.

Customer preferences: As the world becomes increasingly conscious of sustainable living, consumers in the GCC and DIY & Hardware Store Market market are gravitating towards eco-friendly products and materials. This trend is driven by a growing awareness of environmental impact and a desire to reduce waste. Additionally, the rise of do-it-yourself (DIY) culture and social media influence has resulted in a surge in demand for sustainable home improvement and decor solutions. This includes products such as energy-efficient appliances, eco-friendly paints, and upcycled furniture. Sustainability has now become a key consideration for consumers when making purchasing decisions in the DIY & Hardware Store Market market.

Trends in the market: In the GCC region, the DIY & Hardware Store Market is seeing a rise in e-commerce platforms, with a growing number of consumers turning to online shopping for their home improvement needs. Additionally, there is a trend towards DIY home renovations, with more people opting to take on projects themselves rather than hiring professionals. This trend is significant as it reflects a shift in consumer behavior towards more cost-effective and convenient options. Industry stakeholders can capitalize on this trend by leveraging online platforms and providing resources and guidance for DIY projects, as well as offering a wide range of affordable products.

Local special circumstances: In the GCC region, the DIY & Hardware Store market is heavily influenced by the strong tourism industry and the constant influx of expats. The market is also shaped by the demand for high-quality and durable building materials to withstand the harsh weather conditions. Moreover, strict regulations and standards on construction and safety equipment play a significant role in driving the market. These factors create a unique landscape for the DIY & Hardware Store Market in the GCC region, making it a lucrative market for both local and international players.

Underlying macroeconomic factors: The GCC DIY & Hardware Store Market is heavily influenced by macroeconomic factors such as consumer spending power, interest rates, and government policies. Countries with stable economic growth and low interest rates create a favorable environment for consumers to invest in home improvement projects, leading to increased demand for DIY and hardware products. Additionally, governments that support the construction sector through policies such as subsidies and tax incentives can boost the growth of the market. Factors such as fluctuations in oil prices and political instability in the region can also impact consumer confidence and spending, directly affecting the performance of the DIY & Hardware Store Market.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Building and renovating homes involves general contractors and subcontractors who build new homes and remodel existing homes. Home renovation projects also encompass the remodeling of external structures such as gardens, garages, and lawns. The total U.S. home improvement expenditure amounted to 566 billion U.S. dollars in 2022. Homeowners undertake home improvement to make residential properties more comfortable, upgrade air conditioning and heating systems, waterproof roofs and basements, soundproof rooms, and to extend their homes and boost energy savings.