DIY & Hardware Store - Mozambique

  • Mozambique
  • In Mozambique, the revenue in the DIY & Hardware Store market is projected to reach US$5,026.00m in 2024.
  • It is expected to experience an annual growth rate of 3.49% (CAGR 2024-2029).
  • When compared globally, in China generates the highest revenue in this market with US$785bn in 2024.
  • In terms of per person revenues, in Mozambique generates US$144.20 in 2024.
  • The DIY & Hardware Store market in Mozambique is experiencing a surge in demand due to the country's growing construction industry.

Key regions: Worldwide, China, United States, India, Japan

 
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Analyst Opinion

The DIY & Hardware Store market in Mozambique is experiencing slow growth due to factors such as limited access to technology, low consumer awareness and lack of convenient online services. Sub-markets such as Floor Covering and Tools & Machines are heavily impacted by these factors, leading to a negligible overall growth rate. However, efforts to improve technology infrastructure and increase consumer awareness may drive future growth in this market.

Customer preferences:
As the market for DIY and hardware stores continues to grow in Mozambique, there is a notable shift towards eco-friendly and sustainable products. Consumers are increasingly conscious of the environmental impact of their purchases and are seeking out products made from recycled materials or with low carbon footprint. This trend is in line with the country's push towards sustainability and the growing interest in responsible consumerism. As a result, retailers in the DIY and hardware store market are prioritizing and promoting eco-friendly options to meet the evolving preferences of consumers.

Trends in the market:
In Mozambique, the DIY & Hardware Store Market is experiencing a surge in demand for tools and materials due to the country's growing construction industry. Additionally, there is a rising trend of smaller independent retailers offering a wider range of DIY products, posing a competition to larger hardware stores. With a rapidly developing economy, consumers are increasingly looking for affordable and innovative solutions, resulting in a growth in online sales and the introduction of mobile apps for purchasing. This trend is significant as it presents opportunities for industry stakeholders to expand their reach and cater to the growing demand for DIY products. However, it also poses a threat to traditional brick-and-mortar stores, who must adapt to stay relevant in the market.

Local special circumstances:
In Mozambique, the DIY & Hardware Store Market is heavily influenced by the country's geographical and cultural diversity. With a vast landmass and diverse population, the market faces challenges in logistics and distribution, resulting in varying consumer preferences across regions. Additionally, regulatory factors, such as high import tariffs and strict licensing requirements, affect the market's growth and competition. These unique local factors create a dynamic market landscape, where companies must adapt and innovate to meet the demands of both urban and rural customers.

Underlying macroeconomic factors:
The DIY & Hardware Store Market in Mozambique is influenced by macroeconomic factors such as economic growth, government policies, and consumer spending. In recent years, Mozambique has experienced steady economic growth, driven by strong investment in infrastructure and natural resource sectors. Additionally, government initiatives to improve access to credit and promote entrepreneurship have boosted consumer spending, leading to increased demand for DIY and hardware products. However, unstable global economic conditions and fluctuating currency exchange rates could impact market performance in the future. Furthermore, the high poverty rate and income inequality in Mozambique could also affect the affordability and accessibility of DIY and hardware products for some segments of the population.

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.

Overview

  • Revenue
  • Key Players
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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