Hardware & Building Materials - Niger

The Hardware & Building Materials market in Niger is projected to generate a revenue of US$3.08bn in 2024.
It is anticipated to experience an annual growth rate of 3.96% (CAGR 2024-2029).
When compared globally, China leads the market with a revenue of US$525bn in 2024.
Considering the population, the per person revenue in Niger is estimated to be US$109.20 in 2024.
"Despite being one of the poorest countries in the world, Niger has seen a growing demand for affordable and durable hardware and building materials to support its ongoing infrastructure development projects."

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 Niger nan has seen minimal growth in recent years, due to factors such as economic instability and limited disposable income. However, the market is still driven by the convenience of online services and increasing awareness of the importance of home improvement and maintenance among consumers. This has contributed to the steady development of the Hardware & Building Materials Market, making it a crucial player in the region's economy.

Customer preferences: In Niger, the Hardware & Building Materials Market within the DIY & Hardware Store Market has seen a rise in demand for sustainable and eco-friendly products. This can be attributed to an increasing awareness among consumers about environmental issues and a growing preference for greener options. Additionally, the market has also witnessed a shift towards more convenient and user-friendly products, reflecting a changing lifestyle of consumers who are looking for products that can make their DIY projects easier and more efficient.

Trends in the market: In Niger, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a trend towards digitization and online sales. More retailers are offering e-commerce options, allowing customers to purchase products remotely and have them delivered directly to their homes. This trend is particularly significant during the COVID-19 pandemic, where social distancing measures have increased the demand for online shopping. It also presents opportunities for industry stakeholders, such as increased efficiency and cost savings, but also challenges in adapting to a digital market and meeting customer expectations for convenience and speed.

Local special circumstances: In Niger, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's landlocked location and limited transportation infrastructure. This creates challenges in sourcing and delivering materials, leading to higher prices and limited product availability. Additionally, the market is impacted by cultural norms and preferences, as well as government regulations on construction and building materials. These factors contribute to a unique market dynamic that differs from other regions, requiring tailored strategies for success.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Niger is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As a developing country, Niger is heavily dependent on foreign investments and aid, which can impact its economic stability and growth. Additionally, the country's political climate and policies can also affect market performance. In recent years, Niger has experienced steady economic growth, which has positively impacted the hardware and building materials market. However, challenges such as limited access to credit facilities and infrastructure deficits have hindered the market's full potential. As the country continues to strive towards economic stability and development, the hardware and building materials market is expected to grow, driven by increasing demand for housing and infrastructure development.

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.