DIY & Hardware Store - Pakistan

Pakistan

The revenue in Pakistan's DIY & Hardware Store market in 2024 amounts to PKR US$34.31bn.
It is projected to grow annually by 1.82% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, reaching a staggering amount of PKR US$785bn in 2024.
In terms of per person revenues, in Pakistan generates PKR US$139.90 in 2024.
Pakistan's DIY & Hardware Store market is thriving with a surge in demand for locally sourced tools and materials.

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 Pakistan is currently facing a negligible growth rate, influenced by factors such as low consumer awareness, limited availability of digital solutions, and lack of government support. However, the market is expected to experience growth in the future due to increasing urbanization and rising demand for home improvement products. Further growth may also be driven by the introduction of innovative tools and technologies, as well as investments in infrastructure development.

Customer preferences: Consumers in Pakistan are increasingly turning to online platforms for their DIY and hardware needs, driven by the convenience and variety of products available. This trend is particularly apparent among younger demographics, who are more tech-savvy and value time-saving solutions. Additionally, with the rise of social media and influencer marketing, there is a growing emphasis on aesthetics and home improvement, creating a demand for unique and visually appealing DIY and hardware products.

Trends in the market: In Pakistan, the DIY & Hardware Store Market is undergoing significant changes, with an increasing number of consumers turning to online shopping for home improvement products. This trend is driven by the convenience and accessibility of e-commerce platforms, as well as the ongoing COVID-19 pandemic. At the same time, there is a growing interest in sustainable and eco-friendly products, as consumers become more environmentally conscious. These developments are expected to continue, with potential implications for traditional brick-and-mortar hardware stores, who may need to adapt to stay competitive and meet changing consumer demands.

Local special circumstances: In Pakistan, the DIY & Hardware Store Market is influenced by its unique geographical and cultural factors. The country's diverse terrain and climate conditions necessitate a wide variety of products, from building materials to gardening tools. Additionally, DIY culture is gaining popularity, driven by a growing middle class and the availability of affordable and accessible materials. However, strict regulations and limited access to credit can create challenges for small and medium-sized hardware stores. Additionally, the DIY and hardware market in Pakistan is heavily reliant on traditional retail channels, with e-commerce yet to gain significant traction.

Underlying macroeconomic factors: Macroeconomic factors play a crucial role in shaping the DIY & Hardware Store Market in Pakistan. The country's economic growth, inflation rates, government policies, and trade relations with other countries can greatly impact the market. With a growing population and increasing urbanization, there is a rising demand for affordable housing and construction projects, driving the demand for DIY and hardware products. The government's initiatives to boost infrastructure development, such as the China-Pakistan Economic Corridor, further support the growth of the market. Moreover, favorable tax policies and trade agreements, as well as investments in the manufacturing sector, are attracting foreign players to enter the market, leading to increased competition and innovation. However, the country's political and economic instability, coupled with the impact of the COVID-19 pandemic, may hinder the market's growth in the short term.

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.