Hardware & Building Materials - Slovakia

In Slovakia, the Hardware & Building Materials market generates a revenue of US$1.06bn in 2024.
It is projected to experience an annual growth rate of 4.21% (CAGR 2024-2029).
When compared globally, China holds the highest revenue with US$525bn in 2024.
In terms of per capita figures, each person in Slovakia generates a revenue of US$185.80 in 2024.
Slovakia's hardware and building materials market is experiencing a surge in demand due to the country's growing 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.

Hardware
Building supplies

Hardware services
Construction activities

The Hardware & Building Materials Market within the DIY & Hardware Store Market in Slovakia has been experiencing negligible growth, influenced by factors such as diminishing consumer demand and increasing competition. However, the convenience of online shopping and growing focus on home improvement projects are expected to drive minor growth in the market.

Customer preferences: Consumers in Slovakia are becoming more environmentally-conscious, leading to a rise in demand for sustainable and eco-friendly building materials and products. This trend is driven by a growing awareness of the impact of construction and renovation on the environment. Additionally, there is a shift towards DIY projects and home improvement, as more people are spending time at home due to the COVID-19 pandemic. As a result, DIY & Hardware store retailers are expanding their offerings to include eco-friendly and sustainable options to cater to this growing consumer demand.

Trends in the market: In Slovakia, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a shift towards more sustainable and eco-friendly products. This trend is driven by growing consumer awareness and demand for environmentally friendly options. Additionally, there is a rise in online shopping for DIY and home improvement products due to the convenience and safety it offers during the ongoing COVID-19 pandemic. This trend is expected to continue in the future, with potential implications for industry stakeholders such as increased competition in the online space and the need to adapt to changing consumer preferences for sustainable options.

Local special circumstances: In Slovakia, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's geographical location and infrastructure. Due to its central location in Europe, Slovakia serves as a major transportation hub, allowing for easy access to both Western and Eastern European markets. Additionally, the country's stringent regulations on construction and building materials contribute to the market's dynamics, as businesses must adhere to strict quality and safety standards. Furthermore, the DIY culture in Slovakia is not as prevalent as in other markets, resulting in a greater reliance on traditional brick and mortar hardware stores.

Underlying macroeconomic factors: The market performance of the Hardware & Building Materials Market within the DIY & Hardware Store Market in Slovakia is heavily influenced by macroeconomic factors such as the country's GDP, inflation rates, and fiscal policies. With a stable economy and increasing disposable income, there is a growing demand for home improvement products, driving the growth of the market. Furthermore, government initiatives to promote energy-efficient buildings and sustainable construction methods are also contributing to market expansion. On a global scale, the increasing focus on eco-friendly and green building practices is expected to drive market growth in the coming years.

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.