DIY & Hardware Store - Qatar

Qatar

In 2024, the revenue in the DIY & Hardware Store market in Qatar amounts to US$2,976.00m.
It is projected to experience an annual growth rate of 4.21% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, with US$785bn in 2024.
In terms of per capita revenues, each person in Qatar generates US$1,087.00 in 2024.
In Qatar, the DIY & Hardware Store market is experiencing a surge in demand due to the country's rapid urbanization and construction projects.

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 Qatar is experiencing slow growth, influenced by factors such as limited consumer spending due to the economic downturn and competition from online retailers. Additionally, the decline in construction projects has led to a decrease in demand for building materials, impacting the overall market growth. However, the market is expected to rebound as the economy improves, and consumers seek affordable home improvement options.

Customer preferences: With the rise of smart homes and do-it-yourself home improvement projects, there has been an increased demand for advanced home technology and automation products in the DIY & Hardware Store Market in Qatar. This trend is driven by the growing tech-savvy population and the desire for convenience and efficiency in household tasks. Additionally, there has been a growing interest in eco-friendly and sustainable products, as consumers become more conscious of their environmental impact. As a result, there has been a rise in the availability and demand for energy-efficient home appliances and green building materials.

Trends in the market: In Qatar, the DIY & Hardware Store Market is experiencing a surge in online sales and e-commerce platforms, with consumers increasingly turning to digital channels for purchasing home improvement products. This trend is expected to continue as consumers prioritize convenience and safety amidst the COVID-19 pandemic. Additionally, there is a growing demand for eco-friendly and sustainable products, driving retailers to expand their offerings in this segment. This trend not only addresses environmental concerns but also presents opportunities for cost savings and differentiation for industry players.

Local special circumstances: In Qatar, the DIY & Hardware Store market is heavily influenced by the small, tight-knit communities and the country's focus on self-sufficiency. This has led to a strong demand for local and affordable DIY solutions. Additionally, the country's strict licensing and safety regulations play a significant role in shaping the market, as only licensed contractors can perform certain tasks. Climatic factors, such as extreme heat and sandstorms, also impact the types of products and services offered in the market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Qatar is heavily influenced by macroeconomic factors such as the country's economic stability, government fiscal policies, and global economic trends. As Qatar continues to undergo economic diversification and development, the demand for DIY and hardware products is also increasing. The government's focus on infrastructure development and construction projects, as well as the growing population in the country, are major drivers for the DIY & Hardware Store Market. Additionally, the rising disposable income of the population has led to increased consumer spending on DIY and home improvement products, further contributing to the market's growth. The overall economic growth and stability of Qatar provide a favorable business environment for both existing and new DIY and hardware stores in the country.

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.