DIY & Hardware Store - Bahrain

Bahrain

In 2024, the revenue in the DIY & Hardware Store market in Bahrain amounts to €869.50m.
It is projected that the market will experience an annual growth rate of 4.12% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, reaching €720bn in 2024.
Considering the total population, per person revenues of €580.10 are generated in Bahrain in 2024.
DIY & Hardware stores in Bahrain are experiencing a surge in demand for home improvement products due to the country's growing population and increasing focus on property renovation.

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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Región

Comparación de regiones

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Analyst Opinion

The DIY & Hardware Store market in Bahrain is facing challenges in terms of growth, with a negligible growth rate. Factors such as economic downturn, lack of innovation, and competition from online retailers may be impacting this market. However, the increasing demand for home improvement and renovation projects, along with the convenience provided by online shopping, may provide a potential for growth in the future.

Customer preferences: Consumer preferences in the DIY and Hardware Store market in Bahrain are shifting towards more eco-friendly and sustainable products. This is driven by a growing awareness and concern for the environment, as well as a desire for products that are safer for both consumers and the planet. As a result, there has been an increase in demand for items such as biodegradable and non-toxic cleaning supplies, energy-efficient appliances, and eco-friendly building materials. Additionally, there is a growing trend towards upcycling and repurposing old items, reflecting a desire for more mindful and sustainable consumption habits. These shifts towards more environmentally-conscious choices are likely to continue and shape the market's offerings in the future.

Trends in the market: In Bahrain, the DIY & Hardware Store Market is experiencing a surge in online sales and e-commerce platforms, with an increasing number of consumers turning to digital channels for their hardware and DIY needs. This trend is driven by the rising popularity of online shopping and the convenience it offers. It also presents an opportunity for industry stakeholders to expand their customer base and cater to the growing demand for online retail. With the advancement of technology and increase in online transactions, it is expected that the trend of online sales in the DIY & Hardware Store Market will continue to grow, bringing new opportunities and challenges for industry players.

Local special circumstances: In Bahrain, the DIY & Hardware Store Market is heavily influenced by the country's hot and dry climate, making outdoor projects and repairs a year-round necessity. Additionally, the country's cultural preference for DIY projects and homesteading influences the demand for DIY and hardware stores. Despite a slow economy, the government's support for small and medium-sized enterprises has led to the growth of local hardware and DIY shops, creating competition for larger international chains. The market is also shaped by strict building codes and regulations, leading to specialized and unique products offered by hardware stores to meet these requirements.

Underlying macroeconomic factors: The DIY & Hardware Store market in Bahrain is heavily influenced by macroeconomic factors such as the country's overall economic growth and stability, government fiscal policies, and global economic trends. A strong and stable economy leads to higher consumer spending, which positively impacts the market for DIY and hardware products. Additionally, government initiatives to promote home renovations and improvements through tax incentives and subsidies also play a crucial role in driving market growth. Furthermore, the growth of the construction industry in Bahrain, coupled with the increasing demand for affordable and sustainable housing, creates a significant demand for DIY and hardware products, further boosting market growth.

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.