DIY & Hardware Store - LATAM

LATAM

Revenue in the DIY & Hardware Store market amounts to US$134.40bn in 2024. The market is expected to grow annually by 1.95% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$785bn in 2024).
In relation to total population figures, per person revenues of US$211.30 are generated in 2024.

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 LATAM is experiencing minimal growth due to factors such as low consumer interest and slow economic recovery. The saturation of the Floor Covering and Tools & Machines sub-markets further contributes to the stagnant growth. However, with increasing awareness of home improvement and availability of online shopping, the market is expected to pick up pace in the coming years.

Customer preferences: Consumers in LATAM are showing a growing interest in sustainable and environmentally-friendly DIY and hardware options. This is driven by a heightened awareness of climate change and a desire to reduce their carbon footprint. As a result, there has been a rise in demand for eco-friendly and biodegradable materials and tools, as well as products made from recycled materials. This trend is also being influenced by cultural values and a desire to preserve natural resources for future generations. Additionally, with an increasing number of millennials and Gen Z entering the market, there is a growing focus on DIY projects as a form of self-expression and personalization, leading to a rise in demand for unique and customizable hardware options.

Trends in the market: In LATAM, the DIY & Hardware Store Market is experiencing a surge in online sales and e-commerce platforms. This trend is driven by the increasing popularity of DIY projects and home renovations, especially during the COVID-19 pandemic. It is also attributed to the convenience and ease of shopping for home improvement products online. This trajectory is significant as it allows DIY & Hardware Store Market players to tap into a wider customer base and cater to the growing demand for DIY products. For industry stakeholders, this trend means the need to invest in e-commerce capabilities and digital marketing strategies to stay competitive. Additionally, it presents an opportunity to expand into new markets and streamline supply chain operations through digital platforms.

Local special circumstances: In LATAM, the growth of the DIY & Hardware Store Market is heavily influenced by the region's unique cultural and economic diversity. For example, in Mexico, the market is driven by the strong DIY culture and the high demand for home improvement solutions. In contrast, in Argentina, the market is more focused on professional hardware and construction materials due to the country's strong infrastructure sector. Additionally, varying regulatory environments across countries, such as import restrictions and tax laws, also impact market dynamics and competition within the DIY & Hardware Store Market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in LATAM is heavily impacted by macroeconomic factors, such as economic stability, consumer spending power, and government regulations. Countries with strong economic growth and stable political environments are experiencing higher demand for DIY and hardware products as consumers have more disposable income and confidence in the market. Additionally, government policies that support the construction industry and infrastructure development also contribute to market growth by increasing the demand for building materials and tools. On the other hand, countries with economic volatility and unfavorable regulatory environments may experience slower market growth due to lower consumer spending and uncertainties in the business environment.

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.