Hardware & Building Materials - Angola

In Angola, the revenue in the Hardware & Building Materials market reaches US$4.52bn in the year 2024.
It is projected that the market will experience an annual growth rate of 4.35% (CAGR 2024-2029).
When compared globally, China generates the highest revenue with US$525bn in 2024.
Taking into account the total population, per person revenues amount to US$119.50 in 2024.
Angola's Hardware & Building Materials market is experiencing a surge in demand due to increased construction projects driven by the country's infrastructure development initiatives.

Definition:

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. In terms of hardware, this includes various items relating to doors, cabinets, floors, and garage accessories. Also included in this category are products related to home safety and security. Building materials cover products related to key components of home improvement such as doors, walls, ceilings, and windows, as well as concrete, cement, and masonry.

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. This segment does not include floor covering, which is shown separately in the Floor Covering segment of the DIY market. For more information on the displayed data, click the info button on the right hand side of each box.

Hardware
Building supplies

Hardware services
Construction activities

In Angola, the Hardware & Building Materials Market within the DIY & Hardware Store Market has seen slow growth due to a lack of infrastructure and resources. Factors such as low consumer awareness and limited access to digital technologies are impacting the market, making it difficult for significant growth.

Customer preferences: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Angola has witnessed a growing preference for eco-friendly and sustainable products. This trend is driven by an increased awareness of environmental issues and a desire for more ethical consumption. Additionally, there has been a shift towards DIY solutions for home improvement, as consumers look for cost-effective and customizable options. This is influenced by the rising cost of professional labor and a desire for creative expression.

Trends in the market: In Angola, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products. This trend is driven by increasing awareness and concern for the environment, as well as government initiatives promoting sustainable construction. In addition, the market is witnessing a rise in digital tools and platforms, such as virtual design and project management software, which are making it easier for consumers to plan and execute DIY home improvement projects. These trends are significant for industry stakeholders as they present opportunities for growth and innovation. However, it also poses challenges for traditional brick-and-mortar stores as more consumers turn to online shopping for their hardware and building materials needs. As such, industry players will need to adapt and embrace digitalization in order to remain competitive in the market.

Local special circumstances: In Angola, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's post-war reconstruction efforts and rapid urbanization. The demand for construction materials is high, and the market is characterized by a mix of both traditional and modern building techniques. Additionally, government regulations on imports and local manufacturing also play a significant role in shaping the market. This unique blend of factors makes Angola's hardware and building materials market distinct and dynamic.

Underlying macroeconomic factors: The Hardware & Building Materials Market, within the DIY & Hardware Store Market in Angola, is significantly impacted by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. With the recent economic growth and increased investment in infrastructure in Angola, the hardware and building materials market is witnessing a steady rise in demand. Additionally, the increasing urbanization and rising disposable income are driving the growth of the market, as more people are investing in home improvement and DIY projects. Moreover, with the projected population growth and the demand for affordable housing in Angola, the hardware and building materials market is expected to experience significant growth in the coming years.

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.

For those who want to start a do-it-yourself project to improve their home or give it a new style, the Home Depot might be considered a shopping paradise. Whether consumers prefer to buy in-store or online, the Home Depot offers a wide range of products such as appliances, building materials, hardware, indoor garden furniture, paint, kitchen, and bath decorating items, among other important products for home improvement projects. With stores across North America, the company is the leading DIY and home improvement chain in the United States and Canada. By the end of the fiscal year 2023, Home Depot had generated over 152 billion U.S. dollars in revenue, and its revenue in the previous year placed it as the home improvement leader worldwide.