DIY & Hardware Store - Ivory Coast

Ivory Coast

In Ivory Coast, the revenue generated in the DIY & Hardware Store market in 2024 amounts to US$5,181.00m.
It is projected that the market will experience an annual growth rate of 3.95% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in the DIY & Hardware Store market, amounting to US$785bn in 2024.
In terms of per capita revenue, in Ivory Coast generates approximately US$175.00 per person in 2024.
The DIY & Hardware Store market in Ivory Coast is experiencing a surge in demand for locally sourced building materials.

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

Region

Region comparison

Currency

Analyst Opinion

The DIY & Hardware Store market in Ivory Coast has seen minimal growth due to several factors including low consumer awareness, limited access to technology, and lack of government support. However, with increased investment in infrastructure and rising disposable incomes, the market is expected to see a steady rise in demand for floor covering, paint, tools, and other hardware supplies. Additionally, the growing trend of home renovation and DIY projects among consumers is also contributing to the market's growth.

Customer preferences: The DIY & Hardware Store Market in Ivory Coast is witnessing a shift towards eco-friendly and sustainable products. This trend is driven by growing consumer awareness about environmental issues and the desire to reduce their carbon footprint. As a result, there is a growing demand for products and materials made from recycled or renewable sources, as well as energy-efficient appliances and tools. This emphasis on sustainability is expected to continue to shape consumer preferences in the DIY & Hardware Store Market in Ivory Coast, with potential for further growth in the future.

Trends in the market: In Ivory Coast, the DIY & Hardware Store Market is experiencing a growing trend of e-commerce platforms, with more consumers turning to online channels for their home improvement needs. This is significant for industry stakeholders as it allows for wider reach and sales potential. Additionally, the rise of DIY culture among younger generations is driving demand for affordable and accessible tools and materials. This trend is likely to continue as more people are staying at home and looking for ways to improve their living spaces. As a result, there is a potential for increased competition among retailers and a need for providing seamless online shopping experiences.

Local special circumstances: In Ivory Coast, the DIY & Hardware Store Market is uniquely influenced by the country's rapidly growing urban population, which has led to a surge in demand for construction materials and tools. Additionally, the culture of DIY home renovation and repair has been passed down for generations, further driving the demand for hardware stores. The government's investment in infrastructure and construction projects has also played a significant role in boosting the market. Furthermore, the country's regulatory framework, specifically in terms of property ownership and construction permits, has a direct impact on the DIY & Hardware Store Market, creating both challenges and opportunities for businesses operating in this sector.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Ivory Coast is influenced by macroeconomic factors such as the overall economic health of the country, government policies, and global economic trends. A stable national economy with strong growth prospects can create a favorable environment for the market to flourish. On the other hand, factors such as political instability, changes in fiscal policies, and economic downturns can have a negative impact on market performance. Additionally, the growing demand for home improvement and renovation projects, coupled with the rise in disposable income and urbanization, is driving the growth of the DIY & Hardware Store Market in Ivory Coast.

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.