DIY & Hardware Store - Oman | Statista Market Forecast

In 2024, the DIY & Hardware Store market in Oman recorded a revenue of US$2.08bn.
It is projected to experience an annual growth rate of 3.21% (CAGR 2024-2029).
When compared to other countries around Worldwide, China leads the market with a revenue of US$785bn in 2024.
In terms of per capita income, each person in Oman generated a revenue of US$441.50 in 2024.
Oman's DIY & Hardware Store market is experiencing a surge in demand for high-quality tools and equipment due to the country's booming construction industry.

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 Oman is currently experiencing a slow growth rate due to a number of factors. These include a decrease in disposable income among consumers, changing preferences towards more affordable options, and the influx of online retailers. However, strong demand for home improvement and renovation projects, along with government initiatives to boost construction and infrastructure, offer potential for future growth. The market is also driven by consumers' increasing awareness of the convenience and cost-effective solutions provided by DIY & Hardware stores.

Customer preferences: With the rise of DIY projects and home renovations during the pandemic, consumers in Oman are now prioritizing convenience and ease of access when it comes to purchasing tools and materials. This has resulted in a growing demand for online shopping platforms and delivery services, as consumers prefer to shop from the comfort of their own homes. Additionally, the increasing emphasis on sustainability and eco-friendliness has influenced consumer preferences, leading to a rise in demand for environmentally-friendly and ethical products in the DIY & Hardware Store market.

Trends in the market: In Oman, the DIY & Hardware Store Market is experiencing a surge in demand as consumers increasingly turn to DIY projects and home improvements during the COVID-19 pandemic. This trend is likely to continue in the coming years, as people prioritize creating comfortable and functional living spaces. Additionally, there is a growing trend towards eco-friendly and sustainable home improvement solutions, as consumers become more conscious of their environmental impact. This shift creates opportunities for industry stakeholders to differentiate their products and services and capture a larger market share. Furthermore, the rise of e-commerce and online platforms in the region has made it easier for DIY consumers to access a wide range of products and compare prices, intensifying competition among market players. As technological advancements and changing consumer preferences shape the DIY & Hardware Store Market in Oman, industry stakeholders need to adapt and innovate to stay competitive in a rapidly evolving landscape.

Local special circumstances: In Oman, the DIY & Hardware Store Market is heavily influenced by the country's geography, with its vast desert landscapes and mountainous terrain. This has led to a strong demand for outdoor equipment and tools, as well as a focus on durable and weather-resistant products. Additionally, the country's traditional culture, centered around self-sufficiency and manual labor, plays a significant role in driving the demand for DIY and hardware supplies. Oman's regulations and policies also heavily influence the market, with strict import regulations and a focus on local production promoting the growth of local hardware stores.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Oman is heavily influenced by macroeconomic factors such as the country's economic growth, fiscal policies, and investments in the construction industry. With a growing population and increasing urbanization, there is a rising demand for home improvement and construction materials, driving the growth of the market. Additionally, government initiatives promoting entrepreneurship and small business development are also fostering the growth of the DIY & Hardware Store Market in the country. The outlook for the market is positive, as Oman continues to invest in infrastructure development and diversify its economy.

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.