The Heating & Cooling market in the DIY & Hardware Store market in Israel has seen minimal growth, due to factors such as limited consumer interest in DIY projects and the availability of professional services. This has led to a slow adoption of digital technologies in the sector, hindering its overall growth rate.
Customer preferences: With Israel being a warm country, demand for cooling products such as air conditioners and fans has been on the rise in recent years. This is coupled with a growing trend towards energy efficiency, leading to a demand for eco-friendly cooling solutions. Additionally, there has been a shift towards self-installation of these products, driven by a DIY culture and a desire to save on costs. As a result, hardware stores are now offering a variety of energy-efficient cooling products and tools for DIY installation, catering to this emerging consumer preference.
Trends in the market:
In Israel, the Heating & Cooling Market within the DIY & Hardware Store Market is seeing a shift towards energy-efficient and eco-friendly products. This trend is driven by government initiatives and consumer awareness about the impact of climate change. As a result, there is an increasing demand for products such as smart thermostats, energy-saving air conditioners, and solar-powered heating systems. This trajectory is significant for industry stakeholders as it presents opportunities for growth and innovation. However, it also poses a challenge for traditional heating and cooling companies to adapt to the changing market and meet consumer demands for sustainable solutions. Additionally, there may be implications for small DIY and hardware stores as they may need to expand their product offerings and expertise to cater to this trend. Overall, the move towards more environmentally-friendly heating and cooling options in Israel presents both challenges and opportunities for industry players.
Local special circumstances: In Israel, the Heating & Cooling Market within the DIY & Hardware Store Market is significantly influenced by the country's climate, which is characterized by hot summers and mild winters. This drives the demand for air conditioning and heating solutions, particularly in residential and commercial buildings. Additionally, Israel's strict energy regulations and incentives for energy-efficient products have led to a growing market for eco-friendly heating and cooling systems. Moreover, the country's high-tech culture has resulted in the adoption of smart home solutions, including smart thermostats and remote-controlled air conditioning units, within the Heating & Cooling Market.
Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in Israel is heavily influenced by macroeconomic factors such as the country's overall economic health, government policies on energy and construction, and global economic trends. Israel's strong economy and infrastructure coupled with favorable government policies on energy efficiency and green building practices have led to a growing demand for energy-efficient heating and cooling systems. Additionally, the global shift towards sustainable and environmentally-friendly solutions has also contributed to the growth of the market in Israel. The country's growing population and high prevalence of extreme weather conditions also play a significant role in driving the demand for heating and cooling solutions in the DIY & Hardware Store Market.
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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