Market Insights Consumer DIY & Hardware Store

Hardware & Building Materials - Bahrain

Bahrain

In Bahrain, the revenue in the Hardware & Building Materials market is projected to reach €0.51bn in 2024.
It is estimated that the market will experience an annual growth rate of 3.98% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, amounting to €482bn in 2024.
On a per capita basis, the revenue generated in the Hardware & Building Materials market in Bahrain is €339.70 in 2024.
Bahrain's Hardware & Building Materials market is experiencing a surge in demand for sustainable and eco-friendly construction materials.

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

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Analyst Opinion

The Hardware & Building Materials Market in Bahrain is experiencing negligible growth, impacted by factors such as increasing competition among DIY & Hardware Stores, fluctuating consumer demand, and the emergence of e-commerce platforms. This trend is expected to continue as the market adapts to new technology and consumer preferences.

Customer preferences: As consumers in Bahrain become more environmentally conscious, there has been a shift towards eco-friendly and sustainable building materials in the Hardware & Building Materials Market within the DIY & Hardware Store Market. This trend is driven by a growing awareness of the impact of construction on the environment and a desire for more energy-efficient and cost-effective solutions. As a result, there has been a rise in demand for green building materials such as bamboo, recycled plastic, and sustainable wood options. In addition, consumers are increasingly taking on DIY projects as a way to save money and have more control over the materials used in their homes. This has led to a growth in sales for hardware and building materials stores that offer a wide selection of eco-friendly options, catering to this emerging trend.

Trends in the market: In Bahrain, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a rise in demand for sustainable and eco-friendly products. This trend is driven by a growing awareness of environmental issues and an emphasis on green living. Hardware and building materials manufacturers are responding by introducing innovative and environmentally-friendly products such as energy-efficient appliances and sustainable building materials. This trend is expected to continue, with customers increasingly seeking out eco-friendly options for their home improvement projects. Industry stakeholders must adapt to this trend by offering a wider range of sustainable products and educating customers on the benefits of using them. This presents an opportunity for businesses to differentiate themselves in the market and attract environmentally-conscious customers.

Local special circumstances: In Bahrain, the Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by the country's small size and the high demand for construction materials due to ongoing infrastructure projects. The market is also affected by the government's strict regulations on import and export of certain materials. Additionally, the cultural preference for DIY projects and the country's growing tourism industry have contributed to the market's growth and expansion.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Bahrain is influenced by various macroeconomic factors, including the country's economic health, fiscal policies, and global economic trends. Bahrain's strong economic growth and stable regulatory environment have been key drivers for the growth of the market. Additionally, the government's investments in infrastructure and construction projects have created a demand for hardware and building materials, further boosting the market. The increasing population and urbanization in the country has also led to a rise in demand for DIY and hardware stores, indicating a positive outlook for the 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.