DIY & Hardware Store - United Kingdom

United Kingdom

The DIY & Hardware Store market in the United Kingdom is projected to generate a revenue of €32.25bn in 2024.
It is expected to experience an annual growth rate of 1.66% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of €720bn in 2024.
In terms of per capita figures, each person in the United Kingdom is estimated to generate €474.60 in revenue in 2024.
The United Kingdom's DIY & Hardware Store market is experiencing a surge in demand for sustainable and eco-friendly products.

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.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The DIY & Hardware Store market in the United Kingdom has been experiencing minimal growth, largely due to factors such as saturation in the market, decreased consumer spending, and competition from online retailers. The market is influenced by sub-markets such as Floor Covering, Paint, Wallpaper & Supplies, Tools & Machines, Hardware & Building Materials, Lawn & Garden, Heating & Cooling, and Bathroom Hardware, with saturation in certain sub-markets further impacting overall growth. Despite these challenges, the convenience and accessibility of online shopping and increasing environmental consciousness among consumers are expected to drive future growth in the market.

Customer preferences: As sustainability and environmental concerns become more prevalent, consumers in the DIY & Hardware Store Market are gravitating towards eco-friendly products and materials. This trend is driven by a shift towards more conscious consumerism and a desire to reduce carbon footprint. Additionally, there is an increasing demand for products that are durable and have a longer lifespan, reflecting a growing preference for quality and value over disposable goods.

Trends in the market: In the UK, the DIY & Hardware Store market is experiencing a rise in e-commerce sales, with consumers increasingly turning to online channels to purchase home improvement products. Additionally, there is a growing trend of sustainability and eco-friendliness, with more stores promoting environmentally-friendly and reusable products. This shift towards online and eco-conscious shopping has significant implications for brick-and-mortar stores, as they may need to adapt their strategies to remain competitive. Furthermore, it highlights the importance for industry stakeholders to prioritize digital capabilities and sustainability in order to meet evolving consumer demands.

Local special circumstances: In the United Kingdom, the DIY & Hardware Store market is heavily influenced by the country's strong DIY culture and high number of homeowners. The market is also impacted by the country's geographic location, with a high demand for weather-resistant tools and materials due to the wet and unpredictable climate. Additionally, the UK's strict building codes and regulations play a role in shaping the market, with a focus on safety and quality products. These unique factors contribute to a market that is distinct from others, creating opportunities and challenges for companies operating within it.

Underlying macroeconomic factors: The DIY & Hardware Store Market in the United Kingdom is impacted by macroeconomic factors such as economic growth, consumer spending, and government policies. Despite facing challenges from a sluggish economy due to Brexit, the DIY & Hardware Store Market has shown resilience with increased consumer spending on home improvement projects. This can also be attributed to favorable fiscal policies such as reduced VAT rates and government incentives for sustainable building practices. The market is also influenced by global economic trends, such as the rising demand for DIY products driven by the growing popularity of DIY home renovation projects worldwide. Furthermore, the increasing awareness and adoption of eco-friendly and sustainable products are expected to further drive market growth in the United Kingdom. Overall, the market is likely to continue its steady growth, thanks to the favorable macroeconomic conditions and shifting consumer preferences towards DIY and sustainability.

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.