DIY & Hardware Store - Algeria

  • Algeria
  • In Algeria, the revenue generated in the DIY & Hardware Store market is estimated to reach €8.00bn in 2024.
  • It is projected to experience an annual growth rate of 1.90% (CAGR 2024-2029).
  • When compared to other countries around Worldwide, in China leads the market with a revenue of €720bn in 2024.
  • Taking into account the total population, the per person revenue in Algeria is approximately €172.90 in 2024.
  • Algeria's DIY & hardware store market is experiencing a surge in demand as the country's construction industry continues to grow rapidly.

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

 
Marché
 
Région
 
Comparaison de régions
 
Monnaie
 

Analyst Opinion

The DIY & Hardware Store Market in Algeria has seen a slower growth rate due to factors such as economic instability and limited consumer disposable income. However, the increasing trend of home renovation and repair projects, along with the convenience of online shopping, is expected to drive market growth in the coming years.

Customer preferences:
With the rise of DIY culture and increasing interest in home improvement, consumers in Algeria are now seeking innovative and cost-effective solutions for their DIY projects. This has led to a surge in demand for digital tools and resources such as DIY tutorials, online project planning tools, and virtual consultations with experts. This trend is driven by the desire for convenience, affordability, and the need for solutions that cater to diverse skill levels and budget constraints.

Trends in the market:
In Algeria, the DIY & Hardware Store market is seeing a surge in online sales and e-commerce platforms, with more consumers turning to digital channels for their home improvement needs. Additionally, there is a growing trend of DIY enthusiasts turning to social media and online tutorials for project ideas and tips. This shift towards digital platforms is significant as it allows for increased accessibility and convenience for customers. It also presents opportunities for industry players to expand their reach and tap into the growing digital market. However, it may also pose challenges for traditional brick-and-mortar stores, as they may struggle to keep up with the pace of this digital transformation. Thus, it is crucial for stakeholders to adapt and innovate to stay competitive in this evolving market.

Local special circumstances:
In Algeria, the DIY & Hardware Store market faces unique challenges, such as limited infrastructure and a reliance on traditional construction methods. This has led to a slower adoption of DIY culture compared to other markets. The country's geography also plays a role, as the predominantly rural population is spread across a large land area, making logistics and distribution challenging. Additionally, cultural norms favor DIY projects being done by professionals, limiting the potential for growth in this market segment. However, the government's focus on infrastructure development and housing projects is expected to drive demand for DIY and hardware products in the coming years.

Underlying macroeconomic factors:
The DIY & Hardware Store market in Algeria is heavily impacted by macroeconomic factors such as the country's overall economic health and policies. The recent decline in oil prices has significantly affected Algeria's economy, leading to a slowdown in consumer spending and a decrease in government funding for infrastructure projects. However, the government's efforts to diversify the economy and attract foreign investment are expected to drive market growth in the long term. Additionally, the increasing trend of DIY projects and home improvement in the region is expected to boost the demand for hardware and building materials, creating opportunities for the market.

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.

Vue d’ensemble

  • Revenue
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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