DIY & Hardware Store - Australia

Australia

In Australia, the DIY & Hardware Store market recorded a revenue of €18.89bn in 2024.
It is projected to experience an annual growth rate of 1.04% (CAGR 2024-2029).
Comparatively, in China leads the global market with a revenue of €720bn in 2024.
On a per capita basis, each individual in Australia generated revenues of €707.30 in 2024.
Australia's DIY & Hardware Store market is experiencing a surge in demand for eco-friendly and sustainable products.

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.

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Analyst Opinion

The DIY and Hardware Store market in Australia is facing slow growth, influenced by factors such as declining consumer spending on home improvement, increasing competition from online retailers, and a shift towards sustainability in product choices. This has led to a negligible growth rate in the overall market, with sub-markets such as Floor Covering, Paint, and Tools & Machines experiencing the most impact. Other factors, such as changing consumer priorities and the influence of economic conditions, also play a role in shaping the current landscape of the DIY and Hardware Store market in Australia.

Customer preferences: Consumers in Australia are increasingly prioritizing sustainability and eco-friendliness in their purchasing decisions, leading to a rise in demand for environmentally friendly products in the DIY & Hardware Store Market. This trend is driven by the growing awareness of the impact of consumer choices on the environment and a desire to reduce waste and carbon footprint. As a result, DIY & hardware stores are expanding their range of sustainable and eco-friendly products, such as recycled materials and energy-efficient tools, to cater to the evolving preferences of their customers.

Trends in the market: In Australia, the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products, as consumers become more environmentally conscious. This trend is expected to continue as the government implements stricter regulations and incentives for sustainable practices. Furthermore, there is a growing demand for online and mobile services, with retailers investing in e-commerce platforms and delivery services to cater to changing consumer preferences. These trends have significant implications for industry stakeholders, as they must adapt their strategies to meet the evolving demands of consumers. This includes expanding their product offerings and investing in digital technologies to enhance the overall shopping experience.

Local special circumstances: In Australia, the DIY & Hardware Store Market is heavily influenced by the country's vast and diverse landscape, with varying climatic conditions and terrain. Australians are known for their love of outdoor activities and DIY projects, resulting in a strong demand for outdoor and gardening equipment. Additionally, the country's strict building regulations and safety standards drive the need for high-quality and reliable hardware products. These unique factors contribute to a highly competitive market, with a focus on innovation and sustainability, as seen in the rise of eco-friendly and energy-efficient DIY products.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Australia is heavily impacted by macroeconomic factors such as the country's economic growth, fiscal policies, and global economic trends. The shift towards do-it-yourself culture and home improvement projects has boosted the demand for DIY products in the country. Additionally, favorable government policies encouraging home renovations and the increasing trend of DIY renovations have also contributed to the growth of the market. The fluctuating Australian dollar, rising household disposable income, and employment rates also play a significant role in the performance of the DIY & Hardware Store 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.