Market Insights Consumer DIY & Hardware Store

Bathroom Hardware - Malaysia

Malaysia

In Malaysia, the revenue generated in the Bathroom Hardware market is expected to reach €0.46bn in 2024.
It is projected to grow annually at a rate of 4.01% (CAGR 2024-2029).
When compared globally, the highest revenue is generated in China, amounting to €35,210m in 2024.
Considering the total population, per person revenues of €13.35 are projected for Malaysia in 2024.
The demand for modern bathroom hardware in Malaysia is on the rise, driven by the country's growing middle class and increasing focus on home renovations.

Key regions: Turkey, Indonesia, Japan, Nigeria, Germany

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Bathroom Hardware Market in Malaysia within the DIY & Hardware Store Market has seen minimal growth due to factors such as limited consumer awareness and an already saturated market. Despite this, the convenience of online shopping is driving some growth.

Customer preferences: With the rise of home improvement and DIY projects, there has been a growing demand for affordable and stylish bathroom hardware in Malaysia. This trend is further fuelled by the increasing focus on wellness and self-care, with consumers seeking to create a spa-like experience in their own homes. Additionally, the growing number of single-person households has also influenced consumer preferences, with a rising demand for compact and space-saving bathroom fixtures. As a result, hardware stores are expanding their bathroom hardware offerings to cater to these evolving demands.

Trends in the market: In Malaysia, the Bathroom Hardware Market within the DIY & Hardware Store Market is experiencing a surge in demand for eco-friendly products. This trend is driven by increasing consumer awareness about sustainability and a growing preference for environmentally friendly options. In addition, there is a rise in demand for smart bathroom technology, such as touchless faucets and motion-sensor lighting. This trend is expected to continue as consumers become more conscious about hygiene and convenience. Industry stakeholders should consider investing in eco-friendly and smart bathroom hardware to cater to this growing market trend.

Local special circumstances: In Malaysia, the Bathroom Hardware Market within the DIY & Hardware Store Market is influenced by the country's strong construction sector and urbanization. Additionally, Malaysia's diverse population, with a mix of Malay, Chinese, and Indian communities, leads to unique preferences in bathroom design and decor. The country's tropical climate also plays a role in the demand for durable and moisture-resistant bathroom hardware. Furthermore, government initiatives to promote home improvement and DIY projects have also contributed to the growth of the market.

Underlying macroeconomic factors: The Bathroom Hardware Market within the DIY & Hardware Store Market in Malaysia is influenced by macroeconomic factors such as overall economic growth, consumer spending, and government policies. With Malaysia experiencing a stable economic growth, consumers are more willing to spend on home improvements, including bathroom renovations. Additionally, the government's efforts to promote the DIY culture and increasing investment in infrastructure projects have also contributed to the growth of the DIY & Hardware Store Market, including the Bathroom Hardware Market. Moreover, the country's strategic location and its participation in various trade agreements have enabled it to access a wide range of affordable raw materials and innovative bathroom hardware products, further fueling 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.