The Hardware & Building Materials Market in Egypt is currently experiencing negligible growth due to various factors such as low consumer spending, rising inflation rates, and a slow economy. Despite the convenience of online services, the market is hindered by limited access to technology and a preference for traditional shopping methods.
Customer preferences: As the DIY trend gains momentum in Egypt, consumers are increasingly looking for affordable and convenient solutions for their home improvement needs. This has resulted in a growing demand for eco-friendly and sustainable building materials, as well as innovative DIY tools and gadgets. With a growing urban population and rising income levels, there is a shift towards modern and efficient living spaces, leading to a surge in demand for hardware and building materials that cater to these evolving lifestyle preferences.
Trends in the market: In Egypt, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a surge in online sales, as more consumers turn to e-commerce platforms for their home improvement needs. This trend is fueled by the increasing demand for contactless shopping options and the convenience of shopping from home. Additionally, there is a growing focus on sustainability, with a rise in the availability of eco-friendly and energy-efficient products in the market. These trends are likely to continue in the future, driving growth in the industry and increasing competition among stakeholders. Moreover, with advancements in technology and digital solutions, DIY enthusiasts can now access online tutorials and instructional videos, further solidifying the trend towards online shopping for hardware and building materials.
Local special circumstances: In Egypt, the Hardware & Building Materials Market within the DIY & Hardware Store Market is influenced by the country's geographic location, with its proximity to major trade routes and its access to raw materials for construction. Additionally, cultural preferences for DIY projects and government initiatives to promote small businesses have contributed to the growth of this sector. However, strict regulations on imports and quality standards may pose challenges for international companies looking to enter the market.
Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Egypt is influenced by various macroeconomic factors. These include the country's national economic health, fiscal policies, and global economic trends. For instance, a stable and growing economy, coupled with favorable fiscal policies, can create a conducive environment for the market to thrive. Additionally, the government's investment in infrastructure development can boost demand for hardware and building materials. On the other hand, economic downturns and volatile fiscal policies can negatively impact market growth. Moreover, the increasing population and the rising demand for affordable housing can create a steady demand for DIY and hardware products in Egypt.
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.
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