DIY & Hardware Store - Malta | Statista Market Forecast

In Malta, the DIY & Hardware Store market recorded a revenue of US$322.20m in 2024.
It is projected to experience an annual growth rate of 3.62% (CAGR 2024-2029).
When compared to other countries worldwide, China dominates the market with a revenue of US$785bn in 2024.
On a per capita basis, the revenue generated amounts to US$600.20 in 2024.
The DIY & Hardware Store market in Malta is experiencing a surge in demand for eco-friendly and sustainable products.

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 Malta is currently experiencing negligible growth, impacted by factors such as limited consumer spending and a decline in construction activity. However, a rising trend in home renovation and repair projects, as well as the convenience offered by online shopping, may present opportunities for growth in the sub-markets of Floor Covering, Paint, Wallpaper & Supplies, Tools & Machines, Hardware & Building Materials, Lawn & Garden, Heating & Cooling, and Bathroom Hardware.

Customer preferences: As consumer habits continue to shift towards convenience and efficiency, DIY and hardware stores are seeing a rise in demand for online shopping and delivery services. This trend is further fueled by the growing preference for at-home repairs and renovations, as well as the increasing popularity of DIY projects. There has also been a shift towards environmentally-friendly and sustainable products, as consumers become more conscious of their impact on the planet. Additionally, with an aging population, there is a growing demand for accessible and easy-to-use products, making DIY and hardware stores a one-stop-shop for all consumers.

Trends in the market: In Malta, the DIY & Hardware Store Market is seeing a rise in online shopping and e-commerce, as more consumers turn to digital platforms for their DIY needs. This trend is significant as it allows for convenience and accessibility, especially for those living in rural areas. Additionally, there is a growing demand for sustainability and eco-friendly products, prompting hardware stores to offer a wider range of environmentally-friendly options. This could potentially impact industry stakeholders, as they may need to adapt their business models to meet the changing consumer preferences and stay competitive in the market.

Local special circumstances: In Malta, the DIY & Hardware Store Market is heavily influenced by the island's limited land area and the local tradition of DIY home projects, which is deeply ingrained in the culture. Additionally, the country's regulatory environment favors small businesses, allowing for a thriving market of locally-owned hardware stores. This unique combination has led to a competitive market with a strong emphasis on providing personalized and customer-centric services. Moreover, the country's growing tourism industry has also contributed to the demand for high-quality hardware products, catering to both locals and tourists alike.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Malta is significantly impacted by macroeconomic factors such as economic growth, consumer spending trends, and government policies. As Malta's economy continues to grow and consumer confidence remains strong, the demand for DIY and hardware products is expected to increase. Additionally, the government's investment in infrastructure projects, including housing and construction, is expected to drive market growth. Furthermore, increasing urbanization and growing home renovation and DIY trends are also key factors contributing to the market's growth in Malta. However, fluctuations in global economic trends and changes in fiscal policies could potentially impact consumer spending and market performance in the DIY & Hardware Store Market.

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.