The Hardware & Building Materials Market in Ireland has shown negligible growth, as consumers are turning to DIY & Hardware stores for convenience and cost savings. Factors such as increasing demand for home improvement, rising construction projects, and rising incomes have contributed to this growth rate.
Customer preferences:
As Ireland's population becomes increasingly urbanized, there has been a noticeable trend towards smaller DIY and hardware stores catering to city-dwellers. This shift is driven by the growing demand for compact, space-saving solutions in urban homes, as well as a desire for convenience and accessibility. Additionally, there has been a rise in eco-consciousness among consumers, leading to an increased demand for sustainable and environmentally-friendly building materials. These factors have contributed to a shift in the offerings of hardware and building material stores, with a focus on innovative and eco-friendly products.
Trends in the market: In Ireland, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a surge in online shopping, with consumers increasingly turning to e-commerce for their home improvement needs. This trend is driven by the convenience and variety offered by online retailers, as well as the growing popularity of DIY projects. Additionally, there is a growing demand for eco-friendly and sustainable products in this market, with consumers becoming more conscious about the environmental impact of their purchases. These trends are likely to continue and have major implications for traditional brick-and-mortar stores, as well as for manufacturers who will need to adapt to the changing consumer preferences.
Local special circumstances: In Ireland, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's economic growth and development. The government's initiatives to promote sustainable construction and energy efficient practices have positively impacted the market, with increased demand for eco-friendly materials. Additionally, the country's favorable regulatory environment, including tax incentives for home renovations, has further driven market growth. The unique combination of these factors sets Ireland apart from other markets and shapes the dynamics of the Hardware & Building Materials Market in the country.
Underlying macroeconomic factors: The Hardware & Building Materials Market in the DIY & Hardware Store Market in Ireland is heavily influenced by macroeconomic factors, such as the country's economic health, fiscal policies, and global economic trends. For instance, a strong economy with robust consumer spending and high levels of investment in infrastructure can lead to increased demand for hardware and building materials. On the other hand, economic downturns, high unemployment rates, and restrictive fiscal policies can negatively impact market growth. Other relevant financial indicators, such as interest rates and currency exchange rates, also play a significant role in market performance. Overall, a stable and growing economy is essential for driving market growth and attracting investment in the Hardware & Building Materials Market in Ireland.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
