Market Insights Consumer DIY & Hardware Store

Heating & Cooling - Indonesia

Indonesia

In Indonesia, the revenue in the Heating & Cooling market in 2024 is estimated to be €1.52bn.
It is projected to experience an annual growth rate of 6.06% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads in terms of revenue, reaching €117bn in 2024.
In Indonesia, the per capita revenue in 2024 amounts to €5.45.
The demand for energy-efficient air conditioning systems in Indonesia is on the rise due to the country's hot and humid climate.

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

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Analyst Opinion

The DIY & Hardware Store Market in Indonesia is experiencing minimal growth due to factors such as limited consumer spending and a slowdown in the construction industry. Despite this, the Heating & Cooling sector is seeing steady growth driven by rising demand for energy-efficient products and increasing focus on environmental sustainability.

Customer preferences: As the demand for cost-effective and eco-friendly solutions increases, Indonesian consumers are turning to energy-efficient heating and cooling options. This trend is also reflected in the DIY & Hardware Store Market, where consumers are seeking products and services that align with their values of sustainability and affordability. Additionally, with the growing middle-class population and rapid urbanization, there is a rising preference for compact and portable heating and cooling solutions that cater to smaller living spaces.

Trends in the market: In Indonesia, the Heating & Cooling market within the DIY & Hardware Store Market is seeing a trend towards energy-efficient and smart products, driven by increasing consumer awareness and government initiatives towards sustainability. This is expected to continue with rising concerns over climate change and energy conservation. Additionally, there is a growing demand for customizable cooling and heating solutions to cater to diverse consumer needs. These trends highlight the importance for industry stakeholders to invest in innovative and eco-friendly products to stay competitive and meet evolving consumer preferences.

Local special circumstances: In Indonesia, the Heating & Cooling Market within the DIY & Hardware Store Market is heavily influenced by the country's tropical climate and growing urbanization. Due to the high temperatures and humidity, demand for air conditioning and cooling products is on the rise. Moreover, Indonesia's large population and strong DIY culture have contributed to the growth of the hardware store market, where customers often purchase these products to install themselves. Additionally, favorable government regulations and initiatives promoting energy-efficient products have also shaped the market dynamics in Indonesia.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in Indonesia is influenced by various macroeconomic factors such as the country's economic stability, government policies, and consumer spending levels. Indonesia's growing population and increasing urbanization are driving the demand for home improvement products, including heating and cooling systems. Additionally, favorable government initiatives, such as the development of infrastructure and affordable housing, are supporting the growth of the DIY & Hardware Store Market in the country. However, fluctuations in global economic conditions and changes in consumer behavior can impact the performance of the market in Indonesia.

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.