DIY & Hardware Store - Jordan

Jordan

In Jordan, the DIY & Hardware Store market is projected to generate a revenue of US$2,153.00m in 2024.
It is estimated to experience an annual growth rate of 2.27% (CAGR 2024-2029).
When compared to other countries worldwide, in China leads the market with a revenue of US$785bn in 2024.
Considering the total population, the per person revenues in Jordan reach US$189.10 in 2024.
Jordan's DIY & hardware store market is experiencing a surge in demand due to the country's growing construction and renovation industry.

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 Jordan has been steadily growing, driven by factors such as increasing demand for home improvement products, rising awareness of DIY projects, and the convenience of online shopping. However, the market's growth rate remains negligible due to economic challenges, limited consumer spending, and competition from traditional markets. This impacts the overall market, making it essential for businesses to adapt to evolving consumer preferences and offer competitive pricing to sustain growth.

Customer preferences: The DIY & Hardware Store Market in Jordan has seen a rise in demand for sustainable and eco-friendly products, as consumers become more environmentally conscious. This trend is driven by the country's growing concern for the environment and its impact on health and well-being. As a result, there has been a surge in the availability of eco-friendly DIY materials and tools, catering to the preferences of the socially and environmentally conscious consumer.

Trends in the market: In Jordan, there is a growing trend of home improvement and do-it-yourself projects, leading to an increase in demand for DIY and hardware stores. This trend is fueled by a rise in the number of homeowners and a desire to save money by completing tasks themselves. Additionally, there is a growing interest in eco-friendly and sustainable materials, as well as a focus on convenience and efficiency. This has led to the development of online shopping platforms and delivery services in the DIY and hardware store market. Industry stakeholders will need to adapt to these trends by offering a wide range of products, providing online and mobile options, and incorporating environmentally-friendly options into their offerings. Failure to do so could result in missed opportunities and decreased competitiveness in the market.

Local special circumstances: In Jordan, the DIY & Hardware Store Market is heavily influenced by the country's geographical location and cultural traditions. With a relatively small land area, most stores are concentrated in urban areas, making accessibility a major factor for customers. In addition, the conservative culture in Jordan has resulted in a demand for high-quality and durable hardware products, leading to a focus on customer service and product satisfaction. The market also faces strict regulations on imports and exports, which can impact the availability and pricing of goods. These unique factors play a significant role in shaping the dynamics of the DIY & Hardware Store Market in Jordan.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Jordan is influenced by various macroeconomic factors including the country's economic stability, government policies, and global economic trends. Jordan's economy has been growing steadily in recent years, with an annual GDP growth rate of around 2%. This has led to an increase in household disposable income and consumer spending, which has positively impacted the DIY & Hardware Store Market. Additionally, government initiatives such as housing programs and infrastructure development have also contributed to the growth of the market. However, the recent economic challenges faced in the region, such as the global pandemic and fluctuations in oil prices, have had a negative impact on the market. It is expected that with recovery in the global economy and continued government support, the DIY & Hardware Store Market in Jordan will continue to grow.

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.