Market Insights Consumer DIY & Hardware Store

Floor Covering - Iran

Iran

In Iran, the Floor Covering market generates a revenue of €76.19m in 2024.
It is projected to experience an annual growth rate of 3.29% (CAGR 2024-2029).
When compared globally, in the United States leads the market with a revenue of €5,554m in 2024.
In terms of per capita revenue, in Iran generates €0.85 per person in 2024.
Iran's floor covering market is experiencing a surge in demand for traditional Persian rugs due to their exquisite craftsmanship and cultural significance.

Key regions: India, Turkey, China, Japan, Indonesia

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

In Iran nan, the Floor Covering Market within the DIY & Hardware Store Market has seen minimal growth due to factors such as limited demand, economic challenges, and lack of consumer awareness about DIY projects. Despite these challenges, the Iranian government's efforts to promote the use of local materials and increase investments in home improvement projects are expected to drive some growth in the future.

Customer preferences: As the demand for customization and personalization grows, consumers in Iran are increasingly preferring DIY and hardware stores for their floor covering needs. This trend is fueled by a desire for unique and individualized home décor solutions, as well as the convenience and cost-effectiveness of DIY options. With a younger demographic becoming homeowners, there is also a rise in demand for eco-friendly and sustainable flooring materials, reflecting a growing environmental consciousness among consumers.

Trends in the market: In Iran, the Floor Covering Market within the DIY & Hardware Store Market is seeing a shift towards sustainable and eco-friendly products. This is in line with the global trend of consumers becoming more environmentally conscious. Additionally, there is a growing demand for customizable flooring options, with customers wanting to personalize their living spaces. These trends signal a need for industry stakeholders to prioritize sustainability and customization in their offerings, while also investing in digital platforms to reach a wider customer base.

Local special circumstances: In Iran, the Floor Covering Market within the DIY & Hardware Store Market is influenced by a unique combination of factors such as economic sanctions, cultural preferences for floor coverings, and government regulations. Due to the sanctions, local manufacturers dominate the market, with limited imports from other countries. Additionally, there is a preference for traditional handmade carpets, leading to a niche market for high-end, luxury floor coverings. Government regulations, such as strict import and export policies, also play a role in limiting market competition. This creates a challenging yet potentially profitable environment for international players looking to enter the market.

Underlying macroeconomic factors: The Floor Covering Market within the DIY & Hardware Store Market in Iran is greatly impacted by macroeconomic factors such as government policies, trade agreements, and overall economic health. With the recent lifting of sanctions, the Iranian economy is experiencing rapid growth, resulting in increased disposable incomes and consumer spending. In addition, government initiatives to promote domestic production and investment in infrastructure are creating a favorable business environment for the DIY & Hardware Store Market, as well as the Floor Covering Market. Furthermore, the growing trend towards home renovation and improvement projects among Iranian consumers is also contributing to the demand for floor covering products within 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.