Market Insights Consumer DIY & Hardware Store

Hardware & Building Materials - Chile

Chile

In Chile, the Hardware & Building Materials market generates a revenue of €5.02bn in 2024.
It is projected to experience an annual growth rate of 2.54% (CAGR 2024-2029).
Comparatively, in China stands as the top revenue generator in this market segment, with an estimated revenue of €482bn in 2024.
When considering the population, the per capita revenue in Chile amounts to €255.40 in 2024.
Chile's Hardware & Building Materials market is experiencing a surge in demand driven by infrastructure development projects across the country.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

In Chile, the DIY & Hardware Store Market is experiencing negligible growth due to various factors such as the slow adoption of digital technologies, low health awareness among consumers, and the inconvenience of online health services.

Customer preferences: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Chile has seen a rise in demand for eco-friendly and sustainable products. This trend is driven by increased consumer awareness of environmental issues and a growing concern for sustainable living. As a result, customers are gravitating towards products made from renewable materials, such as bamboo and recycled plastic. This shift in consumer preferences is a reflection of the country's growing focus on sustainability and its impact on individual lifestyles.

Trends in the market: In Chile, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a surge in e-commerce sales as consumers increasingly shop online for their home improvement needs. This trend is expected to continue as more retailers invest in online platforms and offer convenient delivery options. As a result, industry stakeholders should focus on improving their online presence and streamlining their supply chain to meet the growing demand for online shopping. Additionally, there is a rising demand for sustainable and eco-friendly building materials, which presents an opportunity for industry players to diversify their product offerings and cater to the environmentally-conscious consumers. Overall, these trends highlight the need for businesses to adapt to changing consumer preferences and invest in digital transformation to remain competitive in the market.

Local special circumstances: In Chile, the Hardware & Building Materials Market within the DIY & Hardware Store Market is influenced by the country's seismic activity, with a high demand for earthquake-resistant building materials. Additionally, Chile's strong culture of DIY home renovations and repairs drives the market for hardware and building supplies. The market is also heavily regulated, with strict safety standards that impact product offerings and pricing. These factors differentiate the Chilean market from others, shaping its unique dynamics and driving growth in the industry.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Chile is heavily impacted by macroeconomic factors such as economic stability, government policies, and global economic trends. The country's import and export policies, along with its fiscal and monetary policies, play a significant role in shaping the market's performance. The overall economic health of Chile, including its GDP growth rate, inflation, and unemployment rates, also greatly influence consumer spending and demand for home improvement and building materials. Additionally, the government's investments in infrastructure and construction projects can have a direct impact on the demand for hardware and building materials.

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.