DIY & Hardware Store - Kyrgyzstan

The DIY & Hardware Store market in Kyrgyzstan is projected to generate a revenue of US$1.09bn in 2024.
It is anticipated to experience an annual growth rate of 2.48% (CAGR 2024-2029).
When compared globally, China leads the way with a revenue of US$785bn in 2024.
In terms of per capita revenue, each person in Kyrgyzstan is expected to generate US$159.90 in 2024.
Despite its growing economy, Kyrgyzstan's DIY & Hardware Store market is still relatively underdeveloped compared to its Central Asian neighbors.

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 Kyrgyzstan is experiencing slow growth, influenced by factors like low consumer awareness, limited access to digital technologies, and a traditional preference for physical stores. Despite this, some sub-markets, such as Tools & Machines and Hardware & Building Materials, have shown stronger growth due to a rising demand for home renovation and improvement projects. The overall growth rate is expected to remain negligible due to a lack of government support and infrastructure development.

Customer preferences: As Kyrgyzstan experiences a growing interest in DIY and home improvement, there is also a noticeable trend towards sustainable and eco-friendly products. Consumers are prioritizing environmentally-friendly options, such as reusable tools and materials made from renewable resources. This shift is reflective of a larger global movement towards responsible consumption and reducing one's environmental impact. Additionally, there is a growing demand for locally-made and ethically-sourced products, as consumers become more mindful of supporting their local economy and reducing their carbon footprint.

Trends in the market: In Kyrgyzstan, the DIY & Hardware Store Market is experiencing a surge in demand for online shopping and delivery services, as consumers prioritize convenience and safety amid the COVID-19 pandemic. This trend is expected to continue, with the e-commerce market projected to grow at a CAGR of 15% by 2025. Additionally, there is a growing demand for sustainable and eco-friendly products, as consumers become more environmentally-conscious. This presents an opportunity for industry stakeholders to adapt their strategies and offerings to cater to this emerging trend. Furthermore, the rise of home renovations and improvements during lockdown periods has increased the demand for DIY and hardware products, providing a potential growth avenue for the market.

Local special circumstances: In Kyrgyzstan, the DIY & Hardware Store Market is influenced by its rugged mountainous terrain and nomadic culture. The country's remote locations and nomadic lifestyle have led to a strong demand for DIY and hardware products that can withstand harsh weather conditions and cater to the needs of a constantly moving population. Additionally, the government's efforts to promote small-scale entrepreneurship have resulted in a growing number of local DIY and hardware stores, creating a unique market dynamic compared to other countries.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Kyrgyzstan is significantly influenced by various macroeconomic factors such as economic stability, consumer confidence, government policies, and infrastructure development. The country's overall economic health, including its GDP growth rate, inflation, and exchange rates, can greatly impact the performance of the market. Additionally, global economic trends such as changes in trade policies, commodity prices, and international investments can also affect the DIY & Hardware Store Market in Kyrgyzstan. Furthermore, fiscal policies, such as tax rates and subsidies, can influence consumer spending behavior, which can have a direct impact on the market. Overall, a stable and favorable macroeconomic environment is essential for the growth of the DIY & Hardware Store Market in Kyrgyzstan.

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.