DIY & Hardware Store - Niger

Niger

In Niger, the revenue in the DIY & Hardware Store market for 2024 amounts to US$4,099.00m.
It is projected that the market will experience an annual growth rate of 4.03% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this sector, with US$785bn in 2024.
In terms of per person revenues, in Niger generates US$145.20 in 2024.
Niger's DIY & Hardware Store market is experiencing a surge in demand for solar-powered products due to the country's abundant sunlight.

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 Niger has seen slow growth due to factors such as limited consumer awareness, low disposable income, and a lack of infrastructure for online services. Despite these challenges, the market is expected to experience modest growth, driven by increasing demand for home improvement and renovation products. Additionally, government initiatives promoting the use of sustainable materials and energy-efficient products are also expected to contribute to market growth.

Customer preferences: Consumers in Niger are increasingly gravitating towards DIY and hardware stores that offer a wide range of sustainable and environmentally-friendly products. This is driven by the growing awareness and concern for the impact of consumer choices on the environment. Additionally, there is a rising demand for locally-sourced materials and products, reflecting a shift towards supporting local businesses and promoting sustainable practices. This trend is also influenced by cultural values that emphasize frugality and resourcefulness, as well as the desire for self-sufficiency and independence. As a result, DIY and hardware stores that cater to these preferences are gaining popularity and are expected to continue to grow in the coming years.

Trends in the market: In Niger, the DIY & Hardware Store Market is experiencing a shift towards online shopping, as consumers seek convenience and safety amid the COVID-19 pandemic. This trend is expected to continue as e-commerce infrastructure and internet penetration improve. Additionally, there is a growing trend of products being marketed as environmentally-friendly and sustainable, in line with global concerns about climate change. This presents opportunities for industry stakeholders to tap into new markets and cater to evolving consumer preferences. However, there may be challenges in terms of logistics and supply chain management that need to be addressed. It will be important for companies to adapt to these trends in order to remain competitive in the market.

Local special circumstances: In Niger, the DIY & Hardware Store market is heavily influenced by the country's reliance on agriculture and livestock farming. This has led to a high demand for tools and equipment used in these industries. Additionally, the lack of infrastructure in rural areas has resulted in a need for DIY solutions, creating a niche market for hardware stores. Furthermore, the country's strict import regulations and high tariffs on foreign goods have encouraged the growth of local DIY and hardware industries, driving competition and innovation in the market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Niger is influenced by various macroeconomic factors such as the country's overall economic growth, government policies, and investments in infrastructure and construction. With the recent economic development in Niger, there has been a significant increase in demand for DIY and hardware products. Furthermore, with the rise in disposable income and urbanization, there is a growing trend towards home improvement and renovations, which is driving the growth of the DIY & Hardware Store Market. Additionally, the government's focus on promoting small businesses, affordable housing, and investments in the construction sector is expected to further boost the market in the coming years.

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.