DIY & Hardware Store - Ireland

Ireland

In Ireland, the revenue in the DIY & Hardware Store market reached US$3,221.00m in 2024.
It is projected to experience an annual growth rate of 2.89% (CAGR 2024-2029).
When compared to other countries globally, in China generates the highest revenue with US$785bn in 2024.
In terms of per capita figures, each person in Ireland generates revenues of US$632.80 in 2024.
Ireland's DIY & Hardware Store market is experiencing a surge in demand for sustainable and eco-friendly products.

Key regions: Worldwide, China, United States, India, Japan

Definition:

The DIY (Do-It-Yourself) market refers to the retail market for products used in home improvement and repair projects, such as tools, hardware, building materials, and lawn and garden products. These products are marketed to consumers who want to perform home improvement projects on their own rather than hire a professional. The DIY market provides consumers with the materials and tools they need to complete projects ranging from simple repairs to complete renovations, allowing them to save money and express their creativity in their living spaces.

Structure:

The market is divided into seven different segments:

The Paint, Wallpaper & Supplies segment includes products used for interior and exterior decoration, renovation, and protection of residential buildings.
The Tools & Machines segment consist of products used for construction, maintenance, and repair tasks.
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.
The Lawn & Garden segment encompasses products that help homeowners and landscapers to create and maintain attractive and functional outdoor living spaces.
The Heating & Cooling segment focuses on produts that help regulate indoor temperatures, ensuring comfort, energy efficiency, and air quality in homes.
The Bathroom Hardware segment includes products designed to enhance the functionality and appearance of bathrooms.
The Floor Covering segment encompasses products that serve to protect the floor, enhance the appearance of the room, provide insulation and comfort, and can add value to a property.

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. For more information on the displayed data, click the info button on the right hand side of each box.

Market

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Analyst Opinion

The DIY & Hardware Store Market in Ireland has seen minimal growth in recent years, as factors such as economic uncertainty, fluctuations in raw material prices, and fierce competition from online retailers have hindered its progress. However, the market continues to thrive due to the increasing demand for home improvement and renovation projects, fueled by rising homeownership rates and DIY trends. Additionally, the availability of a wide range of products and services, coupled with the convenience of online shopping, has also helped drive market growth. Despite its sluggish growth rate, the market shows potential for future expansion as consumers continue to prioritize home maintenance and improvement.

Customer preferences: As the DIY & Hardware Store Market in Ireland continues to grow, there is a noticeable shift towards sustainable and eco-friendly products. Consumers are becoming more conscious of their environmental impact and are seeking out greener alternatives for their home improvement needs. This trend is also influenced by the increasing emphasis on sustainable living and eco-friendly practices in Irish culture, as well as the growing number of younger consumers entering the DIY market. As a result, hardware stores are now offering a wider range of eco-friendly products, such as recycled materials, solar-powered tools, and energy-efficient appliances. This aligns with the evolving lifestyle factors of Irish consumers who are becoming more mindful of their impact on the environment.

Trends in the market: In Ireland, the DIY & Hardware Store Market market is experiencing a rise in online sales, with consumers increasingly turning to e-commerce for home improvement supplies. This trend is expected to continue, as more people are opting for DIY projects and investing in their homes due to the pandemic. This shift towards online shopping has significant implications for industry stakeholders, as they must adapt to meet changing consumer demands and invest in their digital presence to remain competitive. Additionally, there is a growing trend of sustainability and eco-friendliness in the market, with consumers seeking out products and services that are more environmentally friendly. Hardware stores are responding by offering eco-friendly products and incorporating sustainable practices into their operations. This trend has the potential to drive growth in the industry, as environmentally conscious consumers are willing to pay a premium for sustainable products. However, it also presents challenges for smaller hardware stores that may struggle to keep up with the investments required to meet these demands. To remain relevant and competitive, industry stakeholders must carefully monitor and adapt to these trends in the DIY & Hardware Store Market market.

Local special circumstances: In Ireland, the DIY & Hardware Store Market is heavily influenced by the country's strong DIY culture, where home improvement projects are popular among homeowners. Additionally, the country's temperate climate and abundance of outdoor spaces also drive demand for outdoor tools and supplies. Moreover, Ireland's strict building regulations require high-quality building materials, making it a lucrative market for hardware stores. The country's small size also contributes to the popularity of local, family-owned hardware stores, creating a unique retail landscape compared to larger international chains.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Ireland is greatly impacted by macroeconomic factors such as the overall economic health of the country, consumer spending patterns, and government policies. As Ireland's economy continues to experience steady growth and low unemployment rates, consumers are more willing to spend on home improvement and DIY projects, contributing to the growth of the market. Additionally, favorable government policies, such as tax cuts and incentives for home renovations, are also driving the demand for hardware and DIY products. However, any potential economic downturn or changes in fiscal policies could have a negative impact on the market's growth and stability.

Methodology

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.