Hardware & Building Materials - Burundi

The Hardware & Building Materials market in Burundi is projected to generate a revenue of US$1.43bn in 2024.
It is anticipated that the market will experience an annual growth rate of 3.73% (CAGR 2024-2029).
When compared globally, China stands out as the market leader, generating a staggering revenue of US$525bn in 2024.
In terms of per capita income, each person in Burundi is expected to contribute US$105.20 to the revenue of the Hardware & Building Materials market in 2024.
Despite being a small landlocked country, Burundi has seen a surge in demand for hardware and building materials due to its growing construction industry.

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 Burundi is experiencing slow growth due to factors such as lack of infrastructure and low consumer purchasing power. This is impacting the market's negligible growth rate, despite the increasing availability of digital technologies and growing health awareness among consumers.

Customer preferences: Consumers in Burundi are becoming more interested in sustainable and eco-friendly options when it comes to hardware and building materials. This reflects a growing global trend towards environmentally friendly practices. As a result, DIY and hardware stores are now offering a wider range of organic and recyclable materials, as well as energy efficient appliances. Additionally, there is a growing demand for DIY solutions that allow individuals to repurpose or upcycle materials, further emphasizing the importance of sustainability in the market.

Trends in the market: In Burundi, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a rise in eco-friendly and sustainable products. This trend is driven by increasing awareness of environmental concerns and demand for more sustainable building materials. It is expected to continue in the foreseeable future, with potential implications for industry stakeholders such as manufacturers, retailers, and consumers. The shift towards eco-friendly products may result in increased competition among manufacturers, while retailers may need to adjust their product offerings to meet changing consumer preferences. Additionally, consumers may be willing to pay a premium for eco-friendly products, creating opportunities for higher profit margins.

Local special circumstances: In Burundi, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's geography. Limited infrastructure and transportation, as well as political instability, make it difficult to import and distribute materials. Additionally, cultural factors such as a preference for traditional building techniques and materials must be considered by companies operating in this market. Regulatory barriers and trade policies also play a significant role in shaping the market dynamics, as the government has strict regulations on import and export of goods. These factors make it crucial for companies to adapt their strategies to the unique local circumstances in order to succeed in this market.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Burundi is significantly influenced by macroeconomic factors such as the country's economic stability, government spending on infrastructure development, and overall consumer confidence. The growth of the market is also impacted by global economic trends, such as fluctuations in raw material prices and changes in import/export policies. Moreover, fiscal policies, such as tax incentives for manufacturing and construction industries, can also play a crucial role in driving market performance. Additionally, the country's population growth and urbanization rate are driving the demand for building materials and DIY products, creating opportunities for growth in 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.