Skip to main content
  1. Market Insights
  2. Consumer
  3. DIY & Hardware Store

Hardware & Building Materials - Central America

Central America
  • Central America's Hardware & Building Materials market is projected to generate revenue of US$8.00bn in 2024.
  • The market is expected to experience an annual growth rate of 3.09% (CAGR 2024-2029).
  • When compared globally, China leads the pack with revenue reaching US$525bn in 2024.
  • Taking into account the region's population, per capita revenues are estimated to be US$151.40 in 2024.
  • In Central America, the hardware and building materials market in Costa Rica is experiencing a surge in demand due to the country's booming 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.

In-Scope

  • Hardware
  • Building supplies

Out-Of-Scope

  • Hardware services
  • Construction activities
Hardware & Building Materials: market data & analysis - Cover

Market Insights report

Hardware & Building Materials: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Notes: Data is shown using current exchange rates. The applied current exchange rates are displayed in the Key Market Indicators below.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Sales Channels

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Hardware & Building Materials Market in Central America is currently experiencing negligible growth, due to factors such as slow economic development and availability of cheap products from neighboring countries. However, increasing consumer interest in DIY projects and the convenience of online shopping may lead to potential growth opportunities in the future.

    Customer preferences:
    As consumers in Central America become more environmentally conscious, there is a growing demand for sustainable and eco-friendly building materials and hardware products within the DIY & Hardware Store market. This trend is driven by a shift towards more sustainable lifestyles and a desire to reduce the environmental impact of construction. Moreover, with an increasing number of people living in urban areas, there is a greater focus on efficient and space-saving solutions, leading to a rise in demand for compact and multi-functional hardware and building materials.

    Trends in the market:
    In Central America, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a surge in the adoption of e-commerce platforms, driven by the increasing internet penetration and consumer preference for online shopping. This trend is expected to continue in the coming years, with major players investing in their online presence and expanding their product offerings. This shift towards online retailing offers convenience and accessibility for customers while also providing opportunities for hardware and building materials companies to reach a wider audience and streamline their supply chain. However, it also poses a challenge for traditional brick-and-mortar stores, highlighting the need for them to adapt and innovate in order to remain competitive in the market.

    Local special circumstances:
    In Central America, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the region's tropical climate and frequent hurricanes and earthquakes. This has led to a demand for durable and weather-resistant building materials, such as concrete and metal roofing. Additionally, the cultural preference for DIY home improvements has resulted in a strong market for tools and hardware products. Regulatory factors, such as import tariffs, also play a significant role in shaping the market, as countries like Nicaragua and Honduras have higher tariffs on imported goods compared to others in the region.

    Underlying macroeconomic factors:
    The Hardware & Building Materials Market within the DIY & Hardware Store Market is greatly impacted by macroeconomic factors such as economic stability, infrastructure development, and consumer spending. In countries with strong economic growth and stable fiscal policies, demand for DIY and hardware products is high due to increased construction and renovation projects. On the other hand, countries facing economic challenges and limited infrastructure investment may experience slower market growth. Moreover, consumer purchasing power and consumer confidence play a significant role in market performance, as these factors influence consumer decisions to invest in hardware and building materials for their DIY projects.

    Methodology

    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.

    Consumer

    Access more Market Insights on Consumer topics with our featured report

    Hardware & Building Materials: market data & analysis - BackgroundHardware & Building Materials: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    The Home Depot - Statistics & Facts

    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.
    More data on the topic

    Contact

    Get in touch with us. We are happy to help.