DIY & Hardware Store - Moldova | Statista Market Forecast

In Moldova, the revenue generated in the DIY & Hardware Store market in 2024 amounts to US$785.80m.
It is projected that the market will experience an annual growth rate of 1.92% (CAGR 2024-2029).
When compared globally, China leads the way with a revenue of US$785bn in 2024.
Considering the population figures, in Moldova, each person generates revenues of US$236.00 in 2024.
The DIY & Hardware Store market is an important segment of the economy in Moldova.
Moldova's DIY & Hardware Store market is witnessing a surge in demand for locally sourced, eco-friendly 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 Moldova is experiencing stagnant growth due to factors such as low consumer spending, lack of digital infrastructure, and limited product variety. Despite the potential for growth in sub-markets, the overall market is hindered by economic challenges and a slow adoption of digital technologies. This has resulted in a market with limited opportunities for expansion and an overall growth rate that is currently negligible.

Customer preferences: Consumers in Moldova are increasingly turning to DIY and hardware stores as a way to save money and gain a sense of self-sufficiency. This trend is driven by economic factors, as well as a desire for hands-on learning and creative expression. As the younger generations become more environmentally-conscious, there is also a growing demand for sustainable and eco-friendly products in these stores. This shift towards DIY and self-sufficiency reflects a cultural desire for independence and resourcefulness, influenced by the country's history of self-reliance and resilience.

Trends in the market: In Moldova's DIY & Hardware Store Market, there is a noticeable shift towards eco-friendly and sustainable products. Consumers are becoming more conscious of their environmental impact and are seeking out products made from renewable materials. This trend is expected to continue, as the government has implemented policies to promote sustainable practices. Additionally, there is a growing interest in smart home technology, with more homeowners investing in connected devices for convenience and energy efficiency. These trends present opportunities for industry stakeholders to diversify their product offerings and cater to the evolving consumer demands. It also highlights the importance for businesses to incorporate sustainability and technology into their strategies to remain competitive in the market.

Local special circumstances: In Moldova, the DIY & Hardware Store Market is heavily influenced by the country's rural population, which accounts for a large portion of its consumers. The lack of access to major retail outlets and limited transportation options have compelled many locals to rely on local hardware stores for their home improvement needs. Additionally, the country's low-cost labor and materials make it an attractive location for DIY projects, leading to a growing market for hardware and construction supplies. However, strict regulations on imported goods and high tariffs can hinder the entry of international players, creating a largely locally-driven market.

Underlying macroeconomic factors: The performance of the DIY & Hardware Store Market in Moldova is greatly impacted by macroeconomic factors such as the country's overall economic climate, fiscal policies, and global economic trends. Moldova’s economy is primarily driven by agriculture and services, with a significant portion of its population living in rural areas. As such, any fluctuations in commodity prices and agricultural output can significantly affect consumer spending and, subsequently, the demand for DIY and hardware products. Moreover, fiscal policies, such as tax rates and regulations, can also influence the profitability of the market and the purchasing power of consumers. Additionally, global economic trends, such as trade agreements and foreign investment, can create opportunities for growth or pose challenges for the market. Therefore, it is essential for businesses in the DIY & Hardware Store Market to closely monitor these macroeconomic factors to make informed decisions and remain competitive in the 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.