DIY & Hardware Store - Chile

Chile

In Chile, the revenue in the DIY & Hardware Store market reaches €8.42bn in 2024.
It is projected that the market will experience an annual growth rate of 2.76% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, amounting to €720bn in 2024.
In terms of per capita figures, the revenue generated per person in Chile amounts to €428.20 in 2024.
The DIY & Hardware Store market in Chile 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.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The DIY & Hardware Store market in Chile is experiencing stagnant growth, influenced by factors such as a sluggish economy and low consumer spending. However, the growing demand for affordable home improvement solutions and the convenience of online shopping are driving the market forward. Sub-markets, including Floor Covering and Tools & Machines, are contributing to the overall growth rate.

Customer preferences: The DIY & Hardware Store Market in Chile has seen a rise in demand for sustainable and eco-friendly products, as consumers become more environmentally conscious. This trend is also driven by a growing preference for locally sourced materials and products, promoting a sense of community and supporting small businesses. Additionally, with the rise of social media and influencers, there has been an increased focus on home improvement and DIY projects, leading to a higher demand for tools and materials.

Trends in the market: In Chile, the DIY & Hardware Store Market is experiencing a growth in online sales, as e-commerce becomes increasingly popular among consumers. This trend is driven by the convenience and safety of online shopping, as well as the availability of a wider range of products. Additionally, there is a shift towards sustainable and eco-friendly products, as consumers become more environmentally conscious. This trend is expected to continue, with a rise in demand for environmentally friendly DIY and hardware products. For industry stakeholders, this means a need to adapt to the digital landscape and offer more sustainable options to meet consumer demand.

Local special circumstances: In Chile, the DIY & Hardware Store Market is heavily influenced by the country's geography and topography. With a long coastline and a large mountain range, the distribution of hardware stores can vary greatly depending on the region. For example, in coastal areas, stores may focus more on marine supplies and tools, while stores in mountainous regions may have a larger selection of outdoor and camping equipment. Additionally, Chile's strong culture of self-sufficiency and handiwork has led to a high demand for DIY products, making the market highly competitive. The country also has strict regulations on building codes and safety standards, which can affect the inventory and services offered by hardware stores. These unique factors play a significant role in shaping the DIY & Hardware Store Market in Chile.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Chile is heavily impacted by macroeconomic factors such as consumer confidence, interest rates, and housing market trends. As the country's economy continues to grow, with strong GDP growth and low inflation rates, consumers are more likely to invest in home improvement and maintenance projects, driving demand for DIY and hardware products. Additionally, government policies that promote homeownership and encourage construction activity also contribute to the growth of the market. However, fluctuations in global economic trends and changes in fiscal policies can have a significant impact on consumer spending and the overall performance of the DIY & Hardware Store Market in Chile.

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.