Hardware & Building Materials - Bosnia and Herzegovina

In Bosnia and Herzegovina, the Hardware & Building Materials market is projected to generate a revenue of US$508.50m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.84% (CAGR 2024-2029).
Comparing this to the global market, China leads the way with a revenue of US$525bn in 2024.
Considering the population figures, in 2024, each person in Bosnia and Herzegovina is expected to contribute US$159.20 in revenue.
The hardware and building materials market in Bosnia and Herzegovina is experiencing a surge in demand due to ongoing construction projects and infrastructure development.

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 Bosnia and Herzegovina nan has seen minimal growth, heavily impacted by factors like economic instability, limited access to technology, and low consumer awareness.

Customer preferences: As the DIY trend gains popularity in Bosnia and Herzegovina, there has been a notable increase in demand for DIY hardware and building materials. This can be attributed to the changing lifestyle preferences of the younger generation, who value the satisfaction of accomplishing tasks on their own. Additionally, the rise in home renovation and improvement projects has also led to an influx of customers in the hardware and building materials market.

Trends in the market: In Bosnia and Herzegovina, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a growing trend towards eco-friendly and sustainable building materials. This is driven by a rising awareness of environmental issues and a shift towards greener construction practices. Additionally, there is a growing demand for smart home technology, such as energy-efficient appliances and home automation systems. These trends have significant implications for industry stakeholders, as they highlight the need for businesses to adapt and offer more environmentally friendly and technologically advanced products to stay competitive in the market. Furthermore, this trend towards sustainability and smart technology has the potential to drive innovation and create new opportunities for the industry.

Local special circumstances: In Bosnia and Herzegovina, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's post-war reconstruction efforts. This has led to increased demand for construction materials and tools, as well as a focus on sustainable and cost-efficient solutions. Additionally, the country's unique cultural blend of Eastern and Western influences plays a role in the choice of materials and styles used in construction and home improvement projects. Furthermore, government regulations on building codes and safety standards in the region also shape market dynamics, creating opportunities for specialized products and services within the Hardware & Building Materials Market.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Bosnia and Herzegovina is impacted by a variety of macroeconomic factors. These include global economic trends, such as shifts in supply and demand for building materials, as well as national economic health and fiscal policies. Other relevant financial indicators, such as inflation rates and currency exchange rates, also play a significant role in the market performance. Additionally, government regulations and investments in infrastructure development greatly influence the growth of the market. With the country's increasing focus on modernization and development, the demand for quality hardware and building materials is expected to rise, thus driving the growth of the 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.

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.