DIY & Hardware Store - Sudan

Sudan

In Sudan, the revenue in the DIY & Hardware Store market is projected to reach US$7,150.00m by 2024.
This market segment is anticipated to grow annually by 2.83% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this sector, amounting to US$785bn in 2024.
In terms of per capita figures, in 2024, each person in Sudan generates revenues of US$144.90.
Despite economic challenges, Sudan's DIY & Hardware Store market is seeing a rise in demand due to an increasing focus on home improvement 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 Sudan has been experiencing negligible growth, impacted by factors such as limited disposable income and unstable economic conditions. However, growth opportunities exist in sub-markets such as Floor Covering and Tools & Machines, driven by increasing home renovation and construction activities. The market also faces challenges such as high competition and limited supply of quality products, but shows potential for growth in the long term with the rising demand for home improvement and convenience.

Customer preferences: As the Sudanese economy continues to grow and modernize, consumer preferences in the DIY & Hardware Store Market are also evolving. One notable trend is the increasing demand for eco-friendly and sustainable products. This shift is driven by a growing awareness of environmental issues and a desire to reduce carbon footprint. Additionally, with a large youth population in Sudan, there is a growing preference for DIY projects and home improvement, leading to a rise in sales for DIY tools and equipment. The emergence of e-commerce platforms and online shopping has also made it easier for consumers to access a wider range of products, further fueling the growth of the DIY & Hardware Store Market in Sudan.

Trends in the market: In Sudan, the DIY & Hardware Store Market is experiencing a surge in demand for home improvement products and services. This trend is driven by a growing middle class and increasing urbanization, leading to a rise in homeownership. Furthermore, the DIY culture is becoming more prevalent, with consumers looking for cost-effective solutions for their home projects. As a result, the market is witnessing an influx of modern, well-equipped DIY stores, offering a wide range of products and services. This trend is expected to continue, providing opportunities for industry players to expand their offerings and cater to the evolving needs of consumers. However, it also presents challenges, such as customers' increasing expectations for quality and convenience, making it essential for businesses to adapt and innovate to stay competitive.

Local special circumstances: In Sudan, the DIY & Hardware Store market is influenced by the country's geographical and cultural factors. Sudan is a large and diverse country, with different regions having varying needs and preferences for DIY and hardware products. Additionally, the market is affected by strict regulations on imports, making it difficult for foreign companies to enter the market. As a result, local businesses have a strong presence in the market, catering to the unique demands of Sudanese consumers. This localized approach is crucial in navigating the market dynamics and establishing a successful presence in Sudan's DIY & Hardware Store market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Sudan is heavily influenced by macroeconomic factors such as national economic health, government policies, and global economic trends. Despite recent economic reforms, Sudan continues to face challenges such as high inflation, limited access to credit, and currency fluctuations. These factors have a direct impact on consumer spending and the overall performance of the DIY & Hardware Store Market. Furthermore, the current political instability in Sudan and its effect on the country's investment climate also play a significant role in the growth and development of the market. It is essential for businesses operating in this market to closely monitor and adapt to these macroeconomic factors in order to thrive in the Sudanese 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.