DIY & Hardware Store - Mauritius | Statista Market Forecast

In Mauritius, the revenue in the DIY & Hardware Store market is projected to reach US$384.80m in 2024.
It is anticipated that the market will experience an annual growth rate of 2.76% (CAGR 2024-2029).
When comparing globally, China generates the highest revenue in this market segment, reaching US$785bn in 2024.
Looking at the per capita figures, in 2024, each person in Mauritius generates approximately US$295.50 in revenue in this sector.
Despite being a small island nation, Mauritius has seen a surge in the demand for home improvement and DIY products, leading to the growth of hardware stores across the country.

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 Mauritius is currently experiencing slow growth, impacted by various factors such as consumer preference for cheaper alternatives, rising competition from e-commerce platforms, and a slowdown in construction activities. This market includes sub-markets such as Floor Covering, Paint, Tools & Machines, and Hardware & Building Materials. With a negligible growth rate, the market is also influenced by limited disposable income and fluctuating consumer demand. Efforts to promote sustainable and eco-friendly products could help boost growth in the long run.

Customer preferences: With the rise of a do-it-yourself culture and a growing interest in home renovation and improvement projects, consumers in Mauritius have shown a preference for convenient and affordable options in the DIY & Hardware Store market. This has led to a surge in demand for online shopping and home delivery services, as well as an increase in the availability of instructional videos and tutorials on home improvement projects. Additionally, with a growing emphasis on sustainability and eco-friendly practices, consumers are increasingly opting for environmentally-friendly products and materials for their DIY projects. This trend is also reflected in the growing popularity of upcycling and repurposing old materials for home renovation.

Trends in the market: In Mauritius, the DIY & Hardware Store Market is experiencing a rise in online sales, with consumers increasingly turning to e-commerce platforms for their hardware needs. This trend is expected to continue with the growth of the country's digital economy and the convenience of online shopping. Additionally, there is a growing emphasis on sustainable and eco-friendly products in the market, as consumers become more environmentally conscious. This trend presents opportunities for businesses to tap into this niche market and offer sustainable products. However, it also poses challenges for traditional brick-and-mortar stores to adapt to the changing consumer preferences. Overall, the rise of e-commerce and sustainability in the DIY & Hardware Store Market in Mauritius are significant trends with potential implications for industry stakeholders.

Local special circumstances: In Mauritius, the DIY & Hardware Store Market is heavily influenced by the island's geography and tourism industry. Being a small island nation, the market is limited, and competition can be fierce. However, with the government's focus on promoting local businesses, there is a rise in demand for locally-sourced materials and products. Additionally, the tourism industry drives the market, with hotels, resorts, and holiday homes requiring regular maintenance and renovations. This creates a unique market dynamic, as competitors often cater to both locals and tourists, offering a diverse range of products and services to meet the demands of the market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Mauritius is heavily influenced by macroeconomic factors such as the overall economic health of the country, global economic trends, and fiscal policies. As a small island nation heavily reliant on international trade, Mauritius' economy is greatly impacted by global economic conditions. Additionally, government policies such as taxation and regulations can also affect the performance of the market. Furthermore, consumer spending and confidence are important indicators of market growth and can be influenced by factors like inflation, interest rates, and unemployment rates. As a result, fluctuations in these macroeconomic factors can greatly impact the DIY & Hardware Store Market in Mauritius.

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.