DIY & Hardware Store - Africa

Africa

In Africa, the revenue generated in the DIY & Hardware Store market in 2024 amounts to €188.50bn.
It is projected that the market will experience an annual growth rate of 3.26% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of €720bn in 2024.
In terms of per person revenue, the figure stands at €145.00 in 2024.
The DIY & Hardware Store market in South Africa is experiencing a surge in demand due to the increasing number of homeowners taking on home improvement projects.

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.

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The DIY & Hardware Store market in Africa is experiencing slow growth due to various factors, such as limited access to digital technologies, low awareness of online services, and consumer preference for traditional shopping. However, with a rising demand for home improvement and repair products, the market is expected to see a moderate increase in the near future. Sub-markets like Tools & Machines and Heating & Cooling are likely to see higher growth due to their essential nature in the construction and maintenance sector. Government initiatives promoting infrastructure development may also contribute to the overall market growth.

Customer preferences: As the DIY & Hardware Store Market continues to grow in Africa, there is an emerging trend of increased demand for home improvement and renovation products among middle-class consumers. This is driven by a growing emphasis on homeownership and property investment, as well as a desire for personalized and modern living spaces. Additionally, with the rise of social media and home renovation influencers, there is a growing trend of DIY projects and a preference for unique and customizable home solutions. This shift towards self-sufficiency and individualized home design is also fueled by a desire for cost-effective and sustainable options.

Trends in the market: In Africa, the DIY & Hardware Store Market is experiencing a surge in online sales and delivery services, as more consumers look for convenient and contactless ways to purchase home improvement products. This trend is expected to continue, with major players investing in online platforms and expanding their delivery networks. Additionally, there is a growing interest in eco-friendly and sustainable products, as consumers become more conscious of their environmental impact. This may lead to a shift towards more environmentally-friendly products and materials in the industry. Furthermore, with the increasing focus on home renovation and improvement during the pandemic, the DIY & Hardware Store Market in Africa is expected to witness significant growth, creating opportunities for both established and new players in the market.

Local special circumstances: In Africa, the DIY & Hardware Store market is heavily influenced by the continent's diverse landscape and unique cultural traditions. For example, the availability of raw materials and resources, such as clay and wood, make traditional building and crafting methods popular among local populations. Additionally, the prevalence of community-based initiatives and self-sufficiency values in many African cultures drives the demand for DIY and hardware products. Furthermore, varying government regulations and import restrictions in different countries can also impact the market, making it essential for businesses to adapt their strategies to local conditions.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Africa is significantly impacted by macroeconomic factors such as GDP growth, inflation rates, and government policies. The overall economic health of the African region, along with global economic trends, greatly influences consumer spending and investment in the DIY & Hardware Store Market. In addition, fiscal policies such as tax rates and import/export regulations can affect production costs and access to raw materials for the DIY & Hardware Store Market businesses. Moreover, factors such as the increasing urbanization and rising disposable income in Africa are expected to drive the demand for DIY & Hardware products, creating new opportunities for market growth.

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.