DIY & Hardware Store - Kazakhstan

  • Kazakhstan
  • In Kazakhstan, the revenue in the DIY & Hardware Store market is projected to reach US$5,521.00m by 2024.
  • It is expected to experience an annual growth rate of 3.93% (CAGR 2024-2029).
  • When compared to other countries worldwide, in China generates the highest revenue in this market segment, with a staggering US$785bn in 2024.
  • Taking into account the total population, the per person revenue in Kazakhstan amounts to US$278.50 in 2024.
  • Despite a growing interest in DIY projects in Kazakhstan, the lack of specialized hardware stores hinders market development.

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

 
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Analyst Opinion

The DIY & Hardware Store Market in Kazakhstan is currently experiencing slow growth, influenced by factors such as limited disposable income, low consumer awareness, and the presence of traditional markets. This has resulted in a negligible growth rate for the overall market. Additionally, the lack of demand for premium products and the dominance of local players further impact the market's growth.

Customer preferences:
As Kazakhstan's economy continues to grow, there has been a noticeable increase in consumer interest in DIY and home improvement projects. This trend is driven by a desire for more personalized living spaces and a sense of pride in creating one's own home. Additionally, the rise of social media has played a significant role in influencing consumer preferences, with individuals seeking inspiration and advice from online platforms. Furthermore, the younger demographic in Kazakhstan is showing a strong inclination towards DIY projects, with a focus on sustainability and eco-friendly materials. This shift towards a more hands-on approach to home improvement is expected to continue to drive growth in the DIY & Hardware Store Market.

Trends in the market:
In Kazakhstan, the DIY & Hardware Store Market is witnessing a rise in e-commerce platforms, with more consumers turning to online shopping for their home improvement needs. This trend is expected to continue, as it offers convenience and a wider product range. Additionally, there is a growing trend of utilizing high-tech tools and equipment in DIY projects, further driving the demand for these products. This shift towards digitization also presents opportunities for industry players to expand their reach and cater to a wider customer base. Overall, embracing digitalization is crucial for stakeholders to stay competitive in the evolving market landscape.

Local special circumstances:
In Kazakhstan, the DIY & Hardware Store market is heavily influenced by the country's geographical location and climate. The harsh winters and vast rural areas have led to a high demand for heating and home repair products. Additionally, the country's strong DIY culture and growing middle class have fueled the market's growth. Moreover, the government's initiatives to promote home ownership and construction have also played a significant role in the market's development. Unlike other markets, Kazakhstan's DIY & Hardware Store market is more focused on basic home repair and improvement products rather than luxury items.

Underlying macroeconomic factors:
The DIY & Hardware Store Market in Kazakhstan is impacted by macroeconomic factors such as the country's economic health, fiscal policies, and global economic trends. The growth of the market is heavily reliant on the overall economic conditions of Kazakhstan, as well as its stability and sustainability. Additionally, investments in the DIY & Hardware Store Market are influenced by the country's fiscal policies, including tax rates, trade agreements, and government spending. Moreover, the performance of the market is also affected by global economic trends, as Kazakhstan is a part of the global economy and is subject to its fluctuations and influences.

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.

Overview

  • Revenue
  • Key Players
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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