DIY & Hardware Store - Israel | Statista Market Forecast

In Israel, the revenue in the DIY & Hardware Store market is projected to reach US$6.67bn in 2024.
It is anticipated that the market will experience an annual growth rate of 3.91% (CAGR 2024-2029).
When compared globally, China leads in revenue generation with an estimated amount of US$785bn in 2024.
Taking into account the total population, per person revenues in Israel are expected to amount to US$715.90 in 2024.
The DIY & Hardware Store market in Israel demonstrates promising growth potential.
In Israel, the DIY and hardware store market is experiencing a surge in demand for eco-friendly and sustainable products.

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.

Tools such as power tools and hand tools
Hardware such as products related to safety and security
Lawn & Garden such as gardening tools and plant supplies
Heating & Cooling systems such as air conditioners and heaters
Bathroom fixtures such as toilets, faucets, and sinks
Floor Coverings such as parquet panels

Electrical supplies such as power inlets and extension cords
Household appliances such as refrigerators and dishwashers
Hardware services such as preventitive maintenance contracts
Professsional contruction machinery such as cement mixers
Air treatment devices such as purifiers and humidifiers

The DIY & Hardware Store market in Israel is seeing minimal growth due to factors such as fluctuating consumer spending, competition from online retailers, and saturation in some sub-markets. Despite this, the convenience of online shopping and increasing DIY trends are driving overall market growth.

Customer preferences: With an increase in DIY home renovations and repairs, consumers in Israel are looking for affordable and convenient options for purchasing tools and supplies. This has led to a rise in online shopping for hardware and home improvement products. Additionally, there is a growing preference for eco-friendly and sustainable materials, as consumers become more environmentally conscious. This has resulted in hardware stores offering a wider range of eco-friendly options to cater to the changing preferences of consumers in Israel.

Trends in the market: In Israel, the DIY & Hardware Store Market is experiencing a shift towards e-commerce, with online platforms like Hometalk and HomeCenter offering a wide range of products and services. This trend has been accelerated by the COVID-19 pandemic, as consumers are increasingly turning to online shopping for convenience and safety. The significance of this trend is two-fold: it allows retailers to reach a larger customer base and also enables customers to compare prices and find better deals. This shift towards e-commerce may also have implications for physical stores, as they may need to adapt their strategies to remain competitive in the market.

Local special circumstances: In Israel, the DIY & Hardware Store market is influenced by its highly advanced technology sector. The country is known for its innovative and tech-savvy population, leading to a strong demand for smart home and automation products. Additionally, the country's strict building codes and regulations require high-quality materials, making the market more focused on premium products. The culture of self-sufficiency and hands-on approach also contributes to the popularity of DIY projects, driving the growth of the hardware store market. Furthermore, the country's relatively small land size and dense population also play a role in the market, as space-saving and compact solutions are in high demand.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Israel is greatly impacted by macroeconomic factors such as the country's overall economic stability, government policies, and global economic trends. Israel has a strong and stable economy, with a high GDP growth rate and low unemployment rate, creating a favorable environment for the growth of the DIY & Hardware Store Market. Moreover, the government's support for the construction and housing sectors, coupled with increased consumer spending, has resulted in a surge in demand for DIY and hardware products. Additionally, Israel's emergence as a global leader in technology and innovation has led to advancements in the DIY & Hardware Store Market, boosting market growth. However, the market may face challenges due to geopolitical tensions and dependence on imports for certain products.

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.

Building and renovating homes involves general contractors and subcontractors who build new homes and remodel existing homes. Home renovation projects also encompass the remodeling of external structures such as gardens, garages, and lawns. The total U.S. home improvement expenditure amounted to 566 billion U.S. dollars in 2022. Homeowners undertake home improvement to make residential properties more comfortable, upgrade air conditioning and heating systems, waterproof roofs and basements, soundproof rooms, and to extend their homes and boost energy savings.