DIY & Hardware Store - Southern Asia

Southern Asia

In 2024, the revenue in the DIY & Hardware Store market in Southern Asia amounts to US$294.20bn.
This market segment is expected to experience an annual growth rate of 2.03% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, with a total of US$785bn in 2024.
In terms of per person revenues, in 2024, each individual in Southern Asia generates US$153.60.
The demand for affordable and sustainable DIY products is rapidly growing in Southern Asia, with countries like India and Indonesia leading the way.

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 Southern Asia is experiencing slow growth due to factors such as low consumer awareness, limited availability of online services, and a preference for traditional brick-and-mortar stores. The Floor Covering and Paint sub-markets have shown relatively stable growth, while the Tools & Machines and Hardware & Building Materials sub-markets have seen a decline due to the economic downturn. The Lawn & Garden sub-market has shown promising growth due to the rising popularity of home gardening. The negligible growth rate can be attributed to the overall economic slowdown in the region.

Customer preferences: Consumers in Southern Asia are increasingly drawn towards DIY and hardware stores that offer a wide range of products for home improvement, renovation, and repair projects. This is largely influenced by the growing trend of do-it-yourself projects, as individuals now have more resources and access to tutorials and guides online. Additionally, with an increasing number of households opting for smaller living spaces, there is a rising demand for multipurpose and space-saving products, such as compact tools and storage solutions. This shift in consumer preferences is also reflective of the region's growing urbanization and modernization, as people seek to make their homes more functional and efficient.

Trends in the market: In Southern Asia, the DIY & Hardware Store Market is experiencing a surge in e-commerce, with more consumers turning to online platforms for their home improvement needs. This trend is expected to continue, driven by the increasing use of digital devices and the convenience of online shopping. Additionally, there is a growing demand for sustainable and environmentally friendly products, as well as a rise in DIY home renovation projects due to the economic impact of COVID-19. These trends present significant opportunities for industry stakeholders to expand their online presence and cater to the changing preferences of consumers. However, it also poses challenges for traditional brick-and-mortar stores, who may need to adapt their strategies to stay competitive in this evolving market.

Local special circumstances: In Southern Asia, the DIY & Hardware Store Market is driven by the region's rapid urbanization and increasing disposable incomes. Countries like India, Bangladesh, and Sri Lanka have a strong culture of DIY and home improvement, leading to a growing demand for hardware and tools. Additionally, the region has varying regulations and import duties, causing fluctuations in prices and availability of materials. These factors, combined with the diverse cultural preferences and varying levels of infrastructure, greatly affect market dynamics in Southern Asia.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Southern Asia is heavily influenced by macroeconomic factors such as GDP growth, consumer spending, and government policies. As the region experiences rapid economic growth and urbanization, there is an increased demand for DIY and hardware products. This is also driven by rising disposable incomes, a growing middle class, and increasing home ownership rates. Furthermore, government initiatives to promote affordable housing and urban development are expected to boost the demand for DIY and hardware products in the region. However, fluctuation in global oil prices, trade tensions, and political instability can have a negative impact on the market.

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.