DIY & Hardware Store - Kenya

Kenya

In Kenya, the revenue in the DIY & Hardware Store market is projected to reach €8,506.00m in 2024.
It is anticipated that the market will experience an annual growth rate of 2.67% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market segment, reaching €720bn in 2024.
In terms of per capita revenue, each person in Kenya is expected to generate €151.30 in 2024.
As a journalist with deep knowledge about history, facts, and insights in the DIY & Hardware Store market, I provide the following country-specific statement about current trends in Kenya: "Kenya's DIY & Hardware Store market is witnessing a surge in demand for eco-friendly and sustainable products, reflecting the country's growing focus on environmental consciousness."

Key regions: Worldwide, China, United States, India, Japan

Definition:

The DIY (Do-It-Yourself) market refers to the retail market for products used in home improvement and repair projects, such as tools, hardware, building materials, and lawn and garden products. These products are marketed to consumers who want to perform home improvement projects on their own rather than hire a professional. The DIY market provides consumers with the materials and tools they need to complete projects ranging from simple repairs to complete renovations, allowing them to save money and express their creativity in their living spaces.

Structure:

The market is divided into seven different segments:

The Paint, Wallpaper & Supplies segment includes products used for interior and exterior decoration, renovation, and protection of residential buildings.
The Tools & Machines segment consist of products used for construction, maintenance, and repair tasks.
The Hardware & Building Materials segment includes a diverse range of products that play an important role in the structure, safety, and functionality of a building.
The Lawn & Garden segment encompasses products that help homeowners and landscapers to create and maintain attractive and functional outdoor living spaces.
The Heating & Cooling segment focuses on produts that help regulate indoor temperatures, ensuring comfort, energy efficiency, and air quality in homes.
The Bathroom Hardware segment includes products designed to enhance the functionality and appearance of bathrooms.
The Floor Covering segment encompasses products that serve to protect the floor, enhance the appearance of the room, provide insulation and comfort, and can add value to a property.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

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Comparación de regiones

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Analyst Opinion

The DIY & Hardware Store Market in Kenya has seen a limited growth rate, driven by factors such as increasing consumer interest in home improvement and the convenience of online shopping. However, challenges such as limited access to tools and materials and a small market size may impact the overall growth.

Customer preferences: The DIY & Hardware Store Market in Kenya has witnessed a noticeable shift towards sustainability and eco-friendliness, as consumers become more conscious of their impact on the environment. There is growing demand for products made from sustainable materials and those with certifications for being environmentally friendly. This trend is also fueled by a younger, more environmentally-aware demographic that is driving the demand for ethical and socially responsible products. As a result, stores are starting to carry a wider range of eco-friendly options to cater to this growing consumer preference.

Trends in the market: In Kenya, the DIY & Hardware Store Market is experiencing a surge in e-commerce solutions, as more consumers turn to online shopping due to the convenience and safety it offers. Additionally, there is a growing trend of DIY home improvement projects, driven by the need to save money and the availability of online tutorials and resources. As a result, industry players are investing in online platforms and digital marketing strategies to cater to this growing demand. This trend is set to continue, with potential implications including increased competition and the need for traditional brick-and-mortar stores to adapt to changing consumer preferences.

Local special circumstances: In Kenya, the DIY & Hardware Store Market is heavily influenced by the country's rapid urbanization, with a significant portion of the population living in informal settlements. This has led to a growing demand for affordable and accessible DIY and hardware products, especially in these areas. Additionally, the government's efforts to promote local manufacturing and reduce reliance on imports have also played a role in shaping the market. The country's diverse cultural practices and traditions also impact consumer preferences and purchasing behaviors in the DIY & Hardware Store Market, with regional variations in demand and product offerings. Furthermore, Kenya's regulations and policies, such as restrictions on foreign ownership and importation of certain goods, also impact the dynamics of the market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Kenya is strongly influenced by macroeconomic factors such as the country's overall economic health, government policies and global economic trends. Kenya's stable economic growth, favorable business environment, and increasing disposable income are key drivers of market demand. Moreover, the country's focus on infrastructure development and construction activities is boosting the demand for DIY and hardware products. Additionally, the growing middle class and urbanization trends in Kenya are expected to further drive the market growth in the near future.

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.