The DIY & Hardware Store Market in Jordan is experiencing a minimal growth rate. This is impacted by various factors including the limited availability of resources and a relatively small consumer base. However, the market is still witnessing steady growth due to the increasing popularity of DIY projects and the convenience of purchasing hardware online.
Customer preferences: In Jordan, there is a growing trend towards energy-efficient and eco-friendly heating and cooling solutions, as consumers become more conscious of their environmental impact. This has led to an increase in demand for products such as solar-powered air conditioners and energy-efficient heating systems. Additionally, with the country's harsh summer temperatures, there is a growing preference for products that offer advanced cooling technology and better energy efficiency. This shift is also influenced by the increasing adoption of smart home technology and the desire for convenience and cost savings.
Trends in the market: In Jordan, the DIY & Hardware Store Market is experiencing a trend towards eco-friendly and energy-efficient heating and cooling solutions. This trend is largely driven by government initiatives promoting sustainable living and increasing consumer awareness about climate change. As a result, there is a growing demand for products such as solar-powered AC units and smart thermostats. Industry stakeholders are responding by partnering with green technology providers and expanding their product offerings to cater to this shift in consumer preferences. This trend is expected to continue in the future as consumers become more environmentally conscious and seek out cost-effective solutions for their heating and cooling needs.
Local special circumstances: In Jordan, the Heating & Cooling Market within the DIY & Hardware Store Market is heavily influenced by the country's arid climate, with extreme temperatures and fluctuations in humidity levels. This results in a high demand for air conditioning and heating solutions, particularly during the summer and winter months. Additionally, the strong cultural emphasis on hospitality and entertaining at home drives the need for reliable heating and cooling systems. The country's strict regulations on energy efficiency also play a significant role in shaping the market, with consumers opting for more eco-friendly and cost-effective options.
Underlying macroeconomic factors: Macroeconomic factors play a significant role in shaping the Heating & Cooling Market within the DIY & Hardware Store Market in Jordan. Global economic trends, such as fluctuations in oil prices, can impact the cost of raw materials and energy used in heating and cooling systems. The national economic health of Jordan also affects the market, as stable economic conditions can increase consumer spending on home improvement projects. Fiscal policies, such as tax incentives for energy-efficient products, can also influence the market. Additionally, the country's infrastructure development and investment in construction projects are relevant financial indicators that impact the demand for heating and cooling systems.
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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