Market Insights Consumer DIY & Hardware Store

Floor Covering - Turkey

Turkey

In 2024, the revenue in the Floor Covering market in Turkey amounts to €284.60m.
It is expected that the market will experience an annual growth rate of 4.08% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this market, with €5,554m in 2024.
On a per person basis, the revenue generated in Turkey in 2024 is €3.30.
The demand for traditional Turkish rugs and carpets is on the rise in the Turkish floor covering market.

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

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Analyst Opinion

The Floor Covering Market in Turkey's DIY & Hardware Store Market is impacted by a negligible growth rate due to factors such as limited consumer demand and increased competition. This market is driven by the convenience of DIY options and availability of affordable products.

Customer preferences: With the rise of DIY culture and increasing focus on home improvement, there has been a noticeable shift in consumer preferences towards sustainable and eco-friendly flooring options. This is driven by growing awareness of the environmental impact of traditional materials and a desire for more natural and non-toxic alternatives. Additionally, with the younger generation being more conscious about their carbon footprint, there has been a rise in demand for eco-friendly and energy-efficient flooring solutions in the DIY & Hardware Store Market.

Trends in the market: In Turkey, the DIY & Hardware Store Market is experiencing a surge in demand for sustainable and eco-friendly floor coverings. This trend is driven by the increasing awareness and concern for environmental protection among consumers. As a result, businesses are now offering a wider range of environmentally friendly options, such as bamboo, cork, and reclaimed wood flooring. This trend is expected to continue as more consumers prioritize sustainability in their purchasing decisions. Additionally, with the growing popularity of DIY home improvement projects, the demand for easy-to-install floor coverings is also on the rise, presenting opportunities for manufacturers and retailers.

Local special circumstances: In Turkey, the Floor Covering Market within the DIY & Hardware Store Market is influenced by the country's rich history and cultural traditions. Turkish homes often feature intricate tile work and decorative rugs, leading to a strong demand for high-quality flooring materials. Additionally, strict regulations and government incentives for sustainable building practices have also driven the market towards eco-friendly floor coverings. This unique combination of factors sets Turkey's market apart from others and drives its growth in the DIY & Hardware Store Market.

Underlying macroeconomic factors: The performance of the Floor Covering Market within the DIY & Hardware Store Market in Turkey is heavily influenced by macroeconomic factors such as GDP growth, consumer confidence, government policies, and investment in infrastructure. For instance, a growing economy with strong consumer sentiment and favorable government regulations can lead to increased demand for floor covering products and drive market growth. On the other hand, an economic downturn or unfavorable fiscal policies can have a negative impact on consumer spending and market performance. Furthermore, investment in infrastructure, such as housing and commercial construction, can drive demand for floor covering products as the need for new flooring solutions increases.

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.