Skip to main content
  1. Market Insights
  2. Consumer

DIY & Hardware Store - Slovakia

Slovakia
  • In Slovakia, the revenue in the DIY & Hardware Store market is projected to reach US$1.59bn in 2024.
  • It is anticipated that the market will experience an annual growth rate of 4.03% (CAGR 2024-2029).
  • When compared to other countries globally, China generates the highest revenue in this market, amounting to US$785bn in 2024.
  • In terms of per capita figures, the revenue generated per person in Slovakia's DIY & Hardware Store market is estimated to be US$279.70 in 2024.
  • Slovakia's DIY & Hardware Store market is experiencing a surge in demand for eco-friendly and energy-efficient products.

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.

In-Scope

  • 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

Out-Of-Scope

  • 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
DIY & Hardware Store: market data & analysis  - Cover

Market Insights report

DIY & Hardware Store: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Notes: Data is shown using current exchange rates. The applied current exchange rates are displayed in the Key Market Indicators below.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Sales Channels

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The DIY & Hardware Store Market in Slovakia is experiencing slow growth, primarily due to the country's focus on traditional methods of home improvement. Factors such as a lack of consumer awareness, limited availability of digital options, and a preference for in-person shopping are hindering market growth. Additionally, the presence of local, family-owned hardware stores and a slow adoption of online shopping among consumers are impacting the market's growth rate, which is currently negligible. However, the market has potential for growth as online shopping becomes more widespread and as younger generations become more interested in DIY projects.

    Customer preferences:
    As technology continues to advance, consumers in Slovakia are becoming more reliant on digital tools for DIY and home improvement projects. This includes increased use of online tutorials, virtual design programs, and mobile apps for purchasing and tracking home improvement supplies. Demographically, younger generations are driving this trend, as they are more tech-savvy and value convenience. Additionally, with the rise of sustainability and environmental awareness, there is also a growing preference for eco-friendly products and materials among consumers in the DIY and hardware store market.

    Trends in the market:
    In Slovakia, the DIY & Hardware Store Market is experiencing a shift towards omni-channel strategies, with brick-and-mortar stores expanding their online presence and offering click-and-collect services. Additionally, there is a growing focus on sustainability and environmentally-friendly products, with more stores offering eco-friendly options and promoting recycling and upcycling projects. These trends are significant as they cater to changing consumer preferences and have the potential to attract a wider customer base. However, they also pose a challenge for smaller, independent stores who may struggle to keep up with the investments needed for these changes.

    Local special circumstances:
    In Slovakia, the DIY & Hardware Store Market is heavily influenced by the country's geographical location and landscape. With a large portion of the population living in rural areas, there is a strong demand for DIY solutions as access to professional services may be limited. Additionally, the country's history of self-sufficiency and craftsmanship has also contributed to the popularity of DIY projects. Furthermore, the local regulatory environment has led to the growth of smaller, independent hardware stores, catering to the specific needs and preferences of Slovakian consumers. This unique combination of factors has created a strong and dynamic market for DIY and hardware products in Slovakia.

    Underlying macroeconomic factors:
    The DIY & Hardware Store market in Slovakia is influenced by various macroeconomic factors, including the overall economic climate both nationally and globally. The country's economic growth and stability, as well as its fiscal policies, play a significant role in the performance of the market. Other financial indicators such as consumer spending, inflation, and interest rates also impact the market's growth and profitability. Additionally, the DIY & Hardware Store market in Slovakia is affected by global economic trends, such as changes in consumer behavior, international trade policies, and fluctuations in the exchange rate. These factors can create both opportunities and challenges for the market, requiring businesses to be adaptable and strategic in their approach.

    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.

    Consumer

    Access more Market Insights on Consumer topics with our featured report

    DIY & Hardware Store: market data & analysis  - BackgroundDIY & Hardware Store: market data & analysis  - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Home improvement in the U.S. - Statistics & Facts

    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.
    More data on the topic

    Contact

    Get in touch with us. We are happy to help.