Hardware & Building Materials - Nepal

In Nepal, the revenue generated in the Hardware & Building Materials market in 2024 amounts to NPR US$3.50bn.
It is projected to experience an annual growth rate of 2.25% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, China leads the market with revenue of NPR US$525bn in 2024.
Taking into consideration the population figures, the per person revenue generated in Nepal amounts to NPR US$112.00 in 2024.
Despite its rich cultural heritage and growing demand for infrastructure, Nepal's hardware and building materials market struggles due to limited local production and heavy reliance on imports.

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 Nepal has seen minimal growth due to various factors such as low consumer awareness, limited access to digital technologies, and reliance on traditional brick-and-mortar stores. This has resulted in a sluggish market growth rate in the hardware & building materials sector.

Customer preferences: As the hardware and building materials market continues to grow in Nepal, consumers are increasingly seeking sustainable and eco-friendly products. This can be attributed to a growing awareness of environmental issues and a desire for more responsible consumption. In line with this trend, there has been a rise in demand for products made from natural, renewable materials such as bamboo and recycled plastic. Additionally, consumers are also prioritizing energy-efficient and durable materials, reflecting a shift towards long-term investment and cost savings in the DIY and hardware store market.

Trends in the market: In Nepal, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products. This trend is driven by increasing consumer awareness and government initiatives promoting sustainable construction practices. Hardware stores are responding by expanding their product offerings to cater to this demand. Additionally, there is a growing trend of online shopping for building materials, allowing customers to compare prices and access a wider range of products. This trend is expected to continue, as it provides convenience for customers and helps hardware stores reach a larger market. Stakeholders in the industry should adapt to these trends by diversifying their product offerings and investing in e-commerce platforms to stay competitive.

Local special circumstances: In Nepal, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's mountainous terrain and remote location. This has led to a strong demand for durable and low-maintenance building materials, such as steel, cement, and brick, as well as a rise in popularity for DIY projects among the local population. Additionally, the government's push for affordable housing and infrastructure development has further boosted the market. However, strict regulations on imports and trade, as well as limited availability of certain materials, have created challenges for businesses in this market.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Nepal is significantly impacted by macroeconomic factors such as the country's overall economic health, government fiscal policies, and global economic trends. Nepal is witnessing a growing population and rapid urbanization, resulting in increased demand for residential and commercial construction projects, thereby driving the growth of the hardware and building materials market. The government's focus on infrastructure development and initiatives to promote affordable housing is also expected to boost the market. Additionally, the rise in disposable income and the growing middle-class population in Nepal are influencing consumer spending patterns, leading to a higher demand for DIY and hardware products.

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.