DIY & Hardware Store - Lebanon

Lebanon

In Lebanon, the revenue generated by the DIY & Hardware Store market in 2024 amounts to US$1,431.00m.
It is projected to experience an annual growth rate of 1.44% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market segment with US$785bn in 2024.
Taking into account the total population figures, in Lebanon generates per person revenues of US$274.10 in 2024.
Lebanese consumers are increasingly turning to local DIY & Hardware stores for their home improvement needs, valuing personalized service and expert advice.

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 Lebanon is facing stagnant growth due to the country's economic crisis and reduced consumer spending. The floor covering, paint, and wallpaper sub-markets are particularly impacted, as consumers prioritize necessary home repairs over aesthetic improvements. Additionally, the ongoing political instability and Beirut port explosion have further hindered market growth. This has resulted in limited investments and expansions by store owners, leading to a negligible growth rate. The tools & machines and hardware & building materials sub-markets may see some growth as consumers turn to DIY projects to save money. However, the overall market is expected to face challenges until the country's economy stabilizes and consumer confidence improves.' (252)

Customer preferences: In Lebanon, the DIY & Hardware Store Market has seen a rise in demand for sustainable products and materials, as more consumers are becoming environmentally conscious. This trend is largely influenced by the younger generation, who are taking a proactive approach towards reducing their carbon footprint. Additionally, there has been a growing interest in DIY home improvement projects, as people are spending more time at home due to the pandemic and are looking for ways to improve their living spaces. This has led to an increase in sales for tools and equipment, as well as a shift towards online shopping for convenience and safety reasons.

Trends in the market: In Lebanon, the DIY & Hardware Store Market is experiencing a rise in eco-friendly and sustainable products, as consumers become more environmentally conscious. This trend is expected to continue, with consumers demanding products that have minimal environmental impact. Additionally, there is a growing demand for smart home technology, as customers seek convenient and efficient ways to manage their homes. These trends have significant implications for industry stakeholders, as companies will need to adapt their product offerings and marketing strategies to meet the changing demand. This presents opportunities for innovation and growth, but also challenges in terms of supply chain management and competition in a rapidly evolving market.

Local special circumstances: In Lebanon, the DIY & Hardware Store Market is heavily influenced by the country's unique geographical and cultural factors. The mountainous terrain and lack of large retail spaces have led to a proliferation of smaller, specialized hardware stores catering to local needs. Additionally, the country's diverse cultural influences, including French, Ottoman, and Arab, have resulted in a wide variety of DIY and home improvement preferences. The market is also influenced by regulatory factors, such as import restrictions and regulations on construction materials, which can impact product availability and pricing.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Lebanon is primarily driven by macroeconomic factors such as the country's economic growth, consumer confidence, and government policies. The stability of the Lebanese economy and its GDP growth rate have a direct impact on consumer behavior and purchasing power. Fiscal policies, including taxes and subsidies, also play a crucial role in influencing market performance. Furthermore, the current global economic climate and trends in the construction and home improvement industries also affect the demand for DIY and hardware products. As Lebanon continues to recover from the recent economic crisis, the market is expected to bounce back with the support of favorable economic policies and increased consumer spending.

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.