Hardware & Building Materials - Bhutan

In 2024, the revenue in Bhutan's Hardware & Building Materials market is estimated to be US$110.70m.
This market segment is expected to grow at an annual rate of 3.17% from 2024 to 2029 (CAGR).
When compared globally, China generates the highest revenue in this sector, amounting to US$525bn in 2024.
Considering the total population, the per-person revenue in Bhutan's Hardware & Building Materials market is projected to be US$139.70 in 2024.
Bhutan's hardware and building materials market is experiencing a surge in demand due to the country's focus on sustainable construction practices.

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

The Hardware & Building Materials Market in the DIY & Hardware Store Market in Bhutan is experiencing negligible growth due to low consumer awareness, limited access to digital technologies, and a lack of convenience in online services.

Customer preferences: With the growing awareness about sustainability and eco-friendly practices, there has been a rise in demand for environmentally-friendly hardware and building materials in the DIY and hardware store market in Bhutan. Consumers are becoming more conscious of the impact of their purchases on the environment and are opting for products made from sustainable materials such as bamboo and recycled plastic. This trend is also supported by government initiatives promoting the use of green products, leading to a shift towards more eco-friendly options in the hardware and building materials market.

Trends in the market: In Bhutan, the Hardware & Building Materials Market within the DIY & Hardware Store Market is seeing a trend towards eco-friendly and sustainable products. This is driven by increasing consumer awareness and demand for environmentally responsible options. Additionally, there is a growing focus on digitalization and online shopping within the industry, as more customers turn to e-commerce platforms for convenience and accessibility. These trends are likely to continue as industry players adapt and integrate technology to meet changing consumer preferences, presenting opportunities for stakeholders to tap into new markets and drive growth.

Local special circumstances: In Bhutan, the Hardware & Building Materials Market within the DIY & Hardware Store Market is influenced by the country's unique geographical factors. With its mountainous terrain and remote locations, there is a demand for durable and locally sourced materials. Additionally, Bhutan's cultural emphasis on self-sufficiency and sustainability drives the market towards eco-friendly and traditional building materials. The country's strict regulations on construction also play a significant role in shaping the market, with a focus on preserving the natural landscape and promoting traditional architecture. These factors create a niche market for locally sourced and environmentally friendly products, setting it apart from other global markets in the DIY & Hardware Store industry.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Bhutan is affected by macroeconomic factors such as economic stability, government policies, and infrastructure investments. As the country continues to experience steady economic growth and political stability, there is a growing demand for hardware and building materials, driven by a rise in construction activities and home improvement projects. Furthermore, Bhutan's commitment to sustainable development and the promotion of eco-friendly building practices is also creating opportunities for the market's growth. With the increasing focus on infrastructure development in the country, the demand for high-quality building materials is expected to remain robust 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.