DIY & Hardware Store - Georgia

Georgia

In 2024, the revenue in the DIY & Hardware Store market in Georgia amounts to US$852.60m.
It is projected that the market will experience an annual growth rate of 3.07% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in the market, reaching US$785bn in 2024.
In terms of per person revenues, in Georgia generates US$229.40 in 2024.
Georgia's DIY & Hardware Store market is experiencing a surge in demand due to the country's growing construction industry.

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 Georgia is experiencing minimal growth, with various factors contributing to this trend. Rising costs of materials and labor, along with intense competition within the sub-markets, have impacted the market's growth rate. Despite this, the convenience and preference for DIY projects among consumers continue to drive demand in the Floor Covering, Paint, Wallpaper & Supplies, Tools & Machines, Hardware & Building Materials, Lawn & Garden, Heating & Cooling, and Bathroom Hardware sectors. Furthermore, the increasing trend towards online shopping and the growing awareness of sustainable and eco-friendly products also influence the market's growth.

Customer preferences: In Georgia, the DIY & Hardware Store Market has seen a rise in demand for eco-friendly and sustainable products, as consumers become more environmentally conscious. This trend is influenced by the growing awareness of climate change and its impact on local communities. Additionally, with an increasing number of individuals shifting towards a more minimalist lifestyle, there is a preference for multipurpose products that serve multiple purposes and reduce waste. This shift towards sustainability has led to an increase in the availability of environmentally friendly options in the market.

Trends in the market: In Georgia, the DIY & Hardware Store market is experiencing a surge in e-commerce, with more consumers turning to online platforms for their hardware and DIY needs. This trend has been accelerated by the COVID-19 pandemic, as consumers prioritize safety and convenience. Additionally, there is a growing demand for sustainable and eco-friendly products, leading to the rise of eco-conscious hardware stores. This trend towards e-commerce and sustainability is expected to continue, posing potential challenges for traditional brick-and-mortar stores and highlighting the need for adaptation and innovation in the industry.

Local special circumstances: In Georgia, the DIY & Hardware Store Market is characterized by a strong demand for locally sourced and sustainable products, reflecting the state's focus on environmental conservation. Additionally, the market is influenced by the state's diverse topography, with customers seeking specialized tools and equipment for various DIY projects. Furthermore, Georgia's unique tax breaks and regulations for small businesses have prompted the growth of locally owned hardware stores, catering to the needs of the community.

Underlying macroeconomic factors: The growth of the DIY & Hardware Store Market in Georgia is heavily impacted by macroeconomic factors such as the strength of the national economy, fiscal policies, and global economic trends. In a country with a thriving economy and stable fiscal policies, the market is expected to experience steady growth. Additionally, government initiatives to promote small businesses and encourage DIY projects can positively impact the market. However, economic downturns and recessionary periods can lead to a decrease in consumer spending, resulting in a decline in demand for DIY and hardware products. Therefore, it is crucial for market players to closely monitor macroeconomic factors to make informed business decisions and adapt to changing market conditions.

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.