Market Insights Consumer DIY & Hardware Store

Bathroom Hardware - Saudi Arabia

Saudi Arabia

In Saudi Arabia, the revenue generated in the Bathroom Hardware market is estimated to reach €0.62bn in 2024.
It is projected to experience an annual growth rate of 2.75% (CAGR 2024-2029).
When compared to other countries worldwide, in China leads the market with a revenue of €35,210m in 2024.
Considering the total population, the per person revenue in Saudi Arabia is approximately €16.54 in 2024.
Sales of luxury bathroom hardware in Saudi Arabia have seen a surge due to the country's growing affluent population and their preference for high-end home decor.

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

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Analyst Opinion

The Bathroom Hardware Market in the DIY & Hardware Store Market in Saudi Arabia is experiencing slow growth, influenced by factors like low consumer interest and limited availability of innovative products. Online sales are also impacting the market, as customers increasingly prefer to purchase products online rather than in-store. However, efforts to promote sustainability and environmental awareness in the market have the potential to drive future growth.

Customer preferences: The Bathroom Hardware Market within the DIY & Hardware Store Market in Saudi Arabia has witnessed a rise in demand for technology-driven products that enhance convenience and efficiency. Consumers are gravitating towards smart faucets, motion-sensor lighting and touchless fixtures to minimize contact and improve hygiene. This shift can be attributed to the growing emphasis on health and safety, particularly in light of the current pandemic, and the influence of technology on daily living.

Trends in the market: In Saudi Arabia, the Bathroom Hardware Market within the DIY & Hardware Store Market is experiencing a shift towards eco-friendly and sustainable products. This trend is driven by increasing awareness of environmental issues and a growing demand for products that are both functional and environmentally responsible. As a result, there is a rise in the availability of environmentally-friendly bathroom hardware, such as low-flow showerheads and water-saving toilets. This trend is expected to continue, as consumers become more conscious of their carbon footprint and seek out products that align with their values. Industry stakeholders, including manufacturers and retailers, will need to adapt to this trend by offering a wider range of sustainable options in order to stay competitive in the market. This will also have implications for the supply chain, with a potential increase in demand for eco-friendly materials and production processes. It is important for industry players to stay on top of this trend and make necessary adjustments in order to cater to the evolving preferences of consumers.

Local special circumstances: In Saudi Arabia, the Bathroom Hardware market within the DIY & Hardware Store Market is influenced by the country's conservative culture and strict regulations. For instance, certain designs and materials for bathroom fixtures may not be permissible under Islamic guidelines. Additionally, the country's hot and arid climate may affect the demand for specific bathroom hardware, such as those with anti-corrosion properties. This also impacts the distribution and marketing strategies of companies operating in the market. Furthermore, the recent economic reforms and increasing urbanization in the country have led to a rise in DIY home renovation projects, boosting the demand for Bathroom Hardware in the DIY & Hardware Store Market.

Underlying macroeconomic factors: Saudi Arabia's Bathroom Hardware Market, within the DIY & Hardware Store Market, is influenced by macroeconomic factors such as the country's economic health, government fiscal policies, and global economic trends. As the largest oil producer in the world, Saudi Arabia's economy is heavily reliant on oil exports, making it susceptible to fluctuations in global oil prices. However, the government's efforts to diversify the economy and reduce its dependence on oil have created opportunities for growth in other sectors, including the DIY & Hardware market. Additionally, the country's Vision 2030 plan aims to promote economic development and attract foreign investment, which could further drive growth in the Bathroom Hardware Market. With a growing population and rising disposable incomes, there is also a growing demand for home improvement products and solutions, creating a favorable market environment for the DIY & Hardware industry in Saudi Arabia.

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.