DIY & Hardware Store - Uganda

  • Uganda
  • In Uganda, the DIY & Hardware Store market generates a revenue of US$7,482.00m in 2024.
  • It is projected to have an annual growth rate of 3.24% (CAGR 2024-2029).
  • Comparing globally, in China leads in revenue generation with US$785bn in 2024.
  • In terms of per person revenues, in Uganda generates US$149.90 in 2024.
  • The DIY & Hardware Store market in Uganda is experiencing a surge in demand for locally sourced construction materials.

Key regions: Worldwide, China, United States, India, Japan

 
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Analyst Opinion

Uganda's DIY & Hardware Store Market is experiencing minimal growth due to factors such as limited access to digital technologies, low consumer awareness of home improvement, and challenges in supply chain management. These sub-markets face constraints in infrastructure and resources, hindering growth potential. However, initiatives to improve digital infrastructure and increase consumer education may drive future growth for the market.

Customer preferences:
In line with the rising demand for DIY projects and home improvement, consumers in Uganda are also showing a preference for tools and materials that are eco-friendly and sustainable. This trend reflects a growing awareness and concern for the environment, as well as a desire for products that offer long-term value. Additionally, there has been a shift towards locally sourced products, highlighting a cultural preference for supporting local businesses and promoting economic growth within the country.

Trends in the market:
In Uganda, there is a growing trend towards small-scale farming and self-sufficiency, driven by a desire for food security and a sustainable way of life. This trend has seen an increase in demand for DIY and hardware products, such as gardening tools, irrigation systems, and building materials. It also presents opportunities for hardware stores to cater to this growing market by offering specialized products and services. This trajectory is significant for industry stakeholders as it opens up new revenue streams and allows for diversification in a traditionally competitive market. Additionally, it has implications for the agriculture sector, as increased access to DIY and hardware products can lead to improved productivity and efficiency.

Local special circumstances:
In Uganda, the DIY & Hardware Store Market faces challenges due to the country's limited infrastructure and high import costs. This results in a higher cost of goods for consumers and affects the market's competitiveness. Additionally, Uganda's strong reliance on agriculture makes weather patterns and crop cycles important factors to consider for hardware stores, as demand for farming equipment fluctuates accordingly. The country's cultural emphasis on community and relationships also plays a role, with word-of-mouth marketing and customer loyalty being crucial for success in this market. Lastly, government regulations and political stability can impact the availability and pricing of construction materials, affecting the DIY & Hardware Store Market's profitability.

Underlying macroeconomic factors:
The DIY & Hardware Store Market in Uganda is greatly affected by macroeconomic factors such as the country's national economic health, government fiscal policies, and global economic trends. Stable economic conditions and policies can fuel growth in the market, while economic instability and unfavorable policies can hinder growth. Other financial indicators, such as consumer spending and interest rates, also play a role in market performance. Furthermore, the overall economic health of Uganda and its neighboring countries can impact the demand for DIY and hardware products, as well as the availability of raw materials and supplies for this 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.

Overview

  • Revenue
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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