Hardware & Building Materials - Burkina Faso

In Burkina Faso, the Hardware & Building Materials market generated a revenue of US$2.63bn in 2024.
It is projected to experience an annual growth rate of 3.26% (CAGR 2024-2029).
When compared on a global scale, China stands out as the country with the highest revenue, generating US$525bn in 2024.
In terms of per capita figures, each person in Burkina Faso contributed US$110.50 in revenue for the Hardware & Building Materials market in 2024.
Despite being a landlocked country, Burkina Faso's Hardware & Building Materials market is experiencing steady growth due to increased 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 DIY & hardware store market in Burkina Faso has been experiencing negligible growth, influenced by factors like low consumer awareness and limited access to digital technologies. This has limited the potential for growth in the hardware & building materials market, despite the convenience offered by online services and increasing focus on health.

Customer preferences: A rising number of consumers in Burkina Faso are turning to eco-friendly and sustainable building materials, such as bamboo and recycled plastic, to meet their construction needs. This shift in preference is driven by cultural values emphasizing environmental preservation and cost-effective solutions. Additionally, the country's growing population and rapid urbanization are fueling demand for affordable and durable housing, leading to a rise in sales of DIY building materials in hardware stores.

Trends in the market: In Burkina Faso, there is a growing trend towards the adoption of green building materials and environmentally friendly DIY practices. This is in line with the global trend towards sustainable living and reducing carbon footprints. This shift is significant as it not only promotes more sustainable construction methods, but also addresses environmental concerns in a country facing challenges like deforestation and water scarcity. For stakeholders in the Hardware & Building Materials Market within the DIY & Hardware Store Market, this trend presents opportunities to offer eco-friendly products and capitalize on the increasing demand for sustainable solutions. Additionally, with the government's focus on promoting sustainable development, it is likely that regulations and incentives will be put in place to encourage the use of green building materials, further driving the growth of this trend in Burkina Faso.

Local special circumstances: In Burkina Faso, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's geographic and economic factors. The landlocked nature of the country and its reliance on agriculture as the main source of income have resulted in limited access to modern construction materials and tools. As a result, there is a growing demand for low-cost, locally-sourced building materials and DIY solutions. Additionally, government regulations and policies aimed at boosting the country's economy also play a significant role in shaping the market dynamics.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Burkina Faso is heavily impacted by macroeconomic factors such as national economic health and government policies. With a stable GDP growth rate and increasing investments in infrastructure projects, the demand for hardware and building materials is expected to rise. Additionally, the country's growing population and urbanization are driving the need for affordable housing, leading to a surge in the construction industry and subsequent demand for hardware and building materials. Furthermore, the government's focus on promoting a DIY culture and increasing consumer spending power are contributing to the growth of the hardware and building materials market in Burkina Faso.

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.