DIY & Hardware Store - South Africa

In South Africa, the revenue generated in the DIY & Hardware Store market is estimated to be US$5.60bn in 2024.
This market segment is expected to experience an annual growth rate of 0.08% (CAGR 2024-2029).
When compared globally, China leads the way with a revenue of US$785bn in 2024.
Looking at the per person figures, the revenue generated per individual in South Africa is US$91.75 in 2024.
South Africa's DIY & Hardware Store market is experiencing a surge in demand for eco-friendly and sustainable 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.

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 South Africa has been experiencing a decline in growth rates, possibly due to factors such as saturation in certain sub-markets like Tools & Machines and Hardware & Building Materials, as well as economic uncertainties leading to reduced consumer spending. However, the market still holds potential given the rising demand for home improvement products and services, driven by the increasing focus on home renovation and decoration, as well as the convenience of online shopping. With strategic innovations and partnerships, the market is expected to witness a revival in growth in the near future.

Customer preferences: Consumers in South Africa are increasingly looking for convenience and affordability when it comes to home improvement and DIY projects. This has resulted in a rise in demand for online shopping and e-commerce platforms, as consumers prefer to compare prices and products from the comfort of their own homes. Additionally, there has been a shift towards environmentally-friendly and sustainable products, as consumers become more conscious of their impact on the environment. This has led to an increase in demand for eco-friendly and energy-efficient products in the DIY & Hardware Store market.

Trends in the market: In South Africa, the DIY & Hardware Store Market is experiencing a rise in online sales and e-commerce platforms, as more consumers turn to the convenience of purchasing home improvement tools and supplies online. This trend is expected to continue as technology and internet access continue to grow in the country. Additionally, there is an increasing focus on sustainability and eco-friendly products, with consumers seeking out environmentally-friendly options. This presents opportunities for retailers to differentiate themselves and cater to the evolving preferences of the market. However, the shift towards online shopping may also pose challenges for traditional brick-and-mortar stores, requiring them to adapt their strategies to remain competitive in the market.

Local special circumstances: In South Africa, the DIY & Hardware Store Market is heavily influenced by the country's unique geographical factors. With a large rural population, there is a growing demand for DIY products and hardware stores outside of major cities. Additionally, the cultural significance of DIY and self-sufficiency in South Africa also drives the market's growth. Regulatory factors, such as a focus on sustainability and eco-friendly solutions, also differentiate the DIY & Hardware Store Market in South Africa from other markets. These factors contribute to the dynamic and evolving nature of the market, creating opportunities for innovative solutions and products.

Underlying macroeconomic factors: The DIY & Hardware Store market in South Africa is impacted by macroeconomic factors such as fluctuations in the country's national economic health and fiscal policies. For instance, changes in interest rates and consumer spending can influence demand for home improvement products. Additionally, global economic trends can also impact the market, especially in terms of trade and supply chain disruptions. Other relevant financial indicators such as inflation, unemployment rates, and consumer confidence can also affect market performance. Overall, a stable economic environment and favorable government policies can support growth in the DIY & Hardware Store market in South Africa.

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.