DIY & Hardware Store - Nepal

Nepal

In Nepal, the revenue in the DIY & Hardware Store market is estimated to be NPR US$4,739.00m in 2024.
It is projected to have an annual growth rate of 2.44% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, reaching NPR US$785bn in 2024.
In terms of per capita figures, each person in Nepal generates revenues of NPR US$151.70 in 2024.
Nepal's DIY & Hardware Store market is booming, driven by the increasing demand for home improvement products and the country's growing construction industry.

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 Nepal is experiencing slow growth, influenced by factors such as limited consumer awareness, high dependence on traditional methods, and lack of government support. Sub-markets such as Floor Covering and Paint are seeing minimal growth due to low purchasing power and availability of cheaper alternatives. The market's growth rate is impacted by challenges in supply chain logistics, shortage of skilled labor, and inadequate infrastructure.

Customer preferences: Consumers in Nepal are increasingly looking for convenience and value when it comes to DIY and hardware shopping. With the rise in urbanization and modern living, there is a growing demand for affordable and ready-to-use products. This has led to a surge in online sales of DIY and hardware items, as well as an increase in the popularity of self-service checkouts at physical stores. Additionally, there is a growing trend towards sustainable and eco-friendly DIY products, as consumers become more environmentally conscious. This is reflected in the preference for locally-sourced and natural materials, as well as products that promote energy efficiency. Furthermore, the rise of social media and influencer culture has also influenced consumer preferences, with an increased focus on aesthetic and trendy home improvement solutions.

Trends in the market: In Nepal, the DIY & Hardware Store Market is experiencing a surge in demand for eco-friendly and durable products, as consumers become more environmentally conscious. This trend is expected to continue as the country focuses on sustainable development. Additionally, there is a growing interest in DIY home improvement projects, fueled by the rise of social media and online tutorials. As a result, hardware stores are diversifying their product offerings and investing in e-commerce platforms to cater to this demand. This trend also presents opportunities for collaborations with local carpenters and contractors. Industry stakeholders must stay updated on these developments and adapt their strategies to tap into the growing market for sustainable and DIY products in Nepal.

Local special circumstances: In Nepal, the DIY & Hardware Store market is heavily influenced by the country's geographic landscape, with the rugged terrain making traditional brick and mortar stores less accessible in remote areas. As a result, e-commerce platforms have seen significant growth, providing access to a wider range of products for customers. Additionally, the country's traditional cultural practices of tinkering and repairing, as well as a lack of strict regulatory guidelines, have fostered a DIY culture, with many individuals opting to purchase tools and materials from local stores rather than hiring professionals for minor repairs and projects.

Underlying macroeconomic factors: The growth of the DIY & Hardware Store Market in Nepal is heavily influenced by macroeconomic factors such as the country's economic growth, government policies, and overall investment climate. Nepal has been experiencing steady economic growth in recent years, with a focus on infrastructure development. This has led to increased demand for DIY and hardware products, as the country's construction and home improvement sectors have seen significant growth. Additionally, favorable government policies and tax incentives have attracted foreign investment, further driving the expansion of the market. However, challenges such as limited access to credit and high import tariffs may hinder the market's growth potential.

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.