Hardware & Building Materials - Brunei Darussalam

In Brunei Darussalam, the Hardware & Building Materials market generates a revenue of US$138.80m in 2024.
It is projected to experience an annual growth rate of 2.96% (CAGR 2024-2029).
When compared globally, China leads the market with a revenue of US$525bn in 2024.
In terms of per capita revenues, in Brunei Darussalam generates approximately US$304.60 per person in 2024.
The hardware and building materials market in Brunei Darussalam is experiencing a surge in demand due to government investment in infrastructure development projects.

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 Brunei Darussalam has been experiencing slow growth, impacted by factors such as limited consumer spending and ongoing economic downturn. Despite the convenience of DIY & Hardware Stores, the market's growth remains negligible.

Customer preferences: With the rise in home renovation and DIY projects during the pandemic, homeowners are becoming more conscious of the quality and durability of building materials. There is also a growing demand for sustainable and eco-friendly options in the market. Consumers are also showing a preference for locally-sourced materials, supporting the development of local industries. Additionally, with the growing trend of smart homes, there is an increased interest in high-tech building materials that offer convenience and efficiency.

Trends in the market: In Brunei Darussalam, the Hardware & Building Materials Market within the DIY & Hardware Store Market has seen a rise in demand for environmentally-friendly and sustainable products. This trend is driven by increased consumer awareness and government initiatives promoting green building materials. Additionally, there is a growing trend towards home improvement projects, as more individuals spend time at home due to the pandemic. This presents opportunities for industry stakeholders to expand their offerings and cater to this growing market segment. However, it also poses challenges in terms of sourcing and pricing of materials, as well as increased competition within the market.

Local special circumstances: In Brunei Darussalam, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's unique geographical location within the island of Borneo, which results in a strong focus on sustainable and eco-friendly building materials. Additionally, Brunei's cultural emphasis on community and family ties has led to the popularity of DIY projects among households, driving the demand for hardware and building materials. Furthermore, the government's strict regulations on building standards and safety contribute to the market's steady growth and stability.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Brunei Darussalam is heavily impacted by macroeconomic factors. The global economic climate and national economic health influence consumer purchasing power and demand for building materials. Fiscal policies, such as trade regulations and taxes, also impact the market by affecting the cost and availability of materials. Furthermore, economic indicators, such as inflation rates and unemployment rates, can affect overall market performance. In addition, investment in construction and infrastructure projects can drive demand for building materials, while economic downturns can lead to a decrease in construction activity and demand for such products. As such, the Hardware & Building Materials Market within the DIY & Hardware Store Market in Brunei Darussalam is highly sensitive to various macroeconomic factors, and changes in these indicators can have a significant impact on market growth and performance.

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.