DIY & Hardware Store - Greece | Statista Market Forecast

In Greece, the revenue in the DIY & Hardware Store market reached US$2.20bn in 2024.
It is projected to experience an annual growth rate of 0.66% (CAGR 2024-2029).
When compared globally, China generates the highest revenue in this market, amounting to US$785bn in 2024.
In terms of per capita figures, in Greece generates revenues of US$213.80 per person in 2024.
Despite economic challenges, Greece's DIY & Hardware Store market is thriving as consumers prioritize home improvement projects during lockdown.

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 Greece has seen minimal growth in recent years, due to factors such as the increasing popularity of online shopping, a decline in home renovation projects, and economic uncertainty. However, there is still potential for growth in sub-markets such as Floor Covering and Tools & Machines, driven by the convenience and cost-effectiveness of DIY solutions. The market's slow growth can also be attributed to the saturation of the market and fierce competition among existing players.

Customer preferences: Consumers in Greece are becoming more environmentally conscious and are increasingly looking for sustainable options in the DIY & Hardware Store Market. This includes a rising demand for eco-friendly building materials and energy-efficient products. The trend is also driven by a growing awareness of the impact of consumer choices on the environment and a desire for a greener and healthier lifestyle. This shift towards sustainability is expected to continue, as consumers prioritize products that align with their values and have a lower carbon footprint.

Trends in the market: In Greece, the DIY & Hardware Store Market is experiencing a surge in e-commerce, with more retailers offering online shopping options and delivery services. This trend has been amplified by the impact of COVID-19, as more consumers turn to online shopping for convenience and safety. Additionally, there is a growing demand for sustainable and eco-friendly products in this market, with retailers incorporating green practices and products into their offerings. These trends signify a shift towards a more digital and environmentally-conscious consumer base, and industry stakeholders will need to adapt their strategies to cater to these changing preferences.

Local special circumstances: In Greece, the DIY & Hardware Store Market is heavily influenced by the country's topography, which consists of many islands and mountainous regions. This creates a need for specialized products and services, such as durable and weather-resistant building materials and efficient transportation options. Additionally, Greece has a strong DIY culture, with a long history of using local materials and techniques for renovation and construction projects. This has led to a market that is highly adaptable to the needs and preferences of the local population. Furthermore, the country's regulations and building codes play a significant role in shaping the market, as they often require specific quality standards and certifications for construction materials and equipment. These unique factors contribute to the diversity and competitiveness of the DIY & Hardware Store Market in Greece, making it a dynamic and thriving sector.

Underlying macroeconomic factors: The DIY and hardware store market in Greece is heavily impacted by macroeconomic factors, including the country's economic health and global economic trends. Greece has been facing economic challenges in recent years, including high unemployment rates and governmental debt. These factors have led to a decrease in consumer spending and a shift towards more cost-effective DIY options. Additionally, fluctuations in currency exchange rates and changes in fiscal policies can greatly impact the profitability of DIY and hardware stores. It is also important to consider the country's investment in infrastructure, as well as its regulatory environment, as these factors can affect the accessibility and availability of DIY and hardware products. In recent years, Greece has seen an increase in demand for energy-efficient and environmentally-friendly products, indicating a potential shift in consumer preferences and behavior.

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.