DIY & Hardware Store - Worldwide

Worldwide

The DIY & Hardware Store market worldwide is projected to generate a revenue of €2,683.00bn in 2024.
According to the forecast, the market is expected to grow at an annual rate of 2.57% (CAGR 2024-2028).
Among all countries, in China leads the global comparison by generating a revenue of €718bn in 2024.
When considering the population figures, the per person revenue in 2024 is estimated to be €346.20.
The DIY & Hardware Store market in the United States is experiencing a surge in demand for eco-friendly and sustainable products.

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

Definition:

The DIY and Hardware Store market encompasses a vast retail landscape that focuses on home improvement and repair projects. With a wide range of products, including building materials, power tools, paint supplies, and lawn & garden equipment, these stores appeal to customers who prefer to tackle projects on their own rather than hire a professional. DIY & hardware stores provide all the necessary materials and tools, from simple repairs to complete renovations, allowing individuals 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 consists 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 products 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

Despite global supply chain issues and a raging pandemic, key players in the DIY & Hardware Store market experienced double-digit year-over-year growth. These numbers are the result of COVID-19 restrictions, which required many people to stay home and provided them with the opportunity to carry out home improvement activities.

Over the past two years, these restrictions have led to a decrease in out-of-home spending on activities such as travel and restaurant dining as well as an increase in household spending, such as grocery purchases and do-it-yourself (DIY) projects. The DIY & Hardware Store market benefited significantly from this shift in behavior; however, many are beginning to question whether this increasing interest in DIY activities will continue as countries begin to lift COVID-19 restrictions.

There is evidence that suggests that the growth that occurred during the pandemic may now be slowing down. Top DIY and home improvement retailers revealed single-digit growth rates in the fourth quarter of 2021, a much slower pace than the double-digit growth rates reported at the same time in the previous year. As more discretionary spending shifts from household to out-of-home, we will continue to see DIY & Hardware Store market growth return to pre-pandemic levels. While this may sound like bad news to some, we see it as something positive and predict steady growth between 2023 and 2027 due to growing demand for housing and the continued desire to renovate homes.

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.