DIY & Hardware Store - Belgium

Belgium

In Belgium, the DIY & Hardware Store market is projected to generate a revenue of €7.75bn in 2024.
The market is expected to experience an annual growth rate of 2.03% (CAGR 2024-2029).
When compared globally, in China leads the pack with a revenue of €728bn in 2024.
In terms of per capita revenue, in Belgium is estimated to generate €661.40 per person in 2024.
Belgium's DIY & Hardware Store market is driven by a strong 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.

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The DIY & Hardware Store Market in Belgium has shown slow growth in recent years, impacted by factors such as increasing online competition, changing consumer preferences, and rising costs. While sub-markets such as Tools & Machines and Hardware & Building Materials have sustained demand, others such as Floor Covering and Paint have seen decline. Moving forward, strategic investments in e-commerce and sustainability initiatives may drive the market's growth.

Customer preferences: In Belgium and the DIY & Hardware Store Market, consumers are increasingly interested in sustainable and eco-friendly options for their home improvement projects. This trend is driven by a growing awareness of the impact of consumer choices on the environment. As a result, there is a surge in demand for products and materials that are made from recycled or renewable materials. Additionally, there is a growing interest in DIY projects that aim to reduce energy consumption and promote sustainable living practices. This shift towards sustainable DIY is also reflected in the popularity of "upcycling" and repurposing old materials for home improvement projects.

Trends in the market: In Belgium, the DIY & Hardware Store Market is experiencing a rise in e-commerce, with consumers increasingly turning to online channels for purchasing tools and materials. This trend is expected to continue, with more retailers investing in online platforms and offering delivery and click-and-collect options. Additionally, there is a growing demand for sustainable and eco-friendly products, as consumers become more conscious of their environmental impact. This presents an opportunity for retailers to differentiate themselves and cater to this niche market. Moreover, there is a shift towards a more DIY culture, as people spend more time at home due to the pandemic. This trend is likely to continue, as consumers look for cost-effective ways to improve their living spaces. Industry stakeholders need to stay ahead of these trends and adapt their strategies to meet the changing demands of consumers.

Local special circumstances: In Belgium, the DIY & Hardware Store Market is heavily influenced by the country's strong culture of DIY and home improvement. This has led to a high demand for DIY products and a competitive market with a wide variety of offerings. Additionally, the country's strict building regulations and focus on sustainability drive the need for high-quality and eco-friendly products in this market. Furthermore, Belgium's location in the heart of Europe makes it a prime hub for international trade, leading to a diverse range of products available in the market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Belgium is impacted by macroeconomic elements such as the stability of the global economy, the country's economic conditions, and fiscal policies. A strong global economy translates to increased consumer spending and higher demand for DIY and hardware products. In addition, a stable national economy with low unemployment rates and high disposable income can boost consumer confidence and drive market growth. Moreover, favorable fiscal policies that encourage investment and entrepreneurship can attract more players in the market and contribute to its expansion. Conversely, an economic downturn or policy changes that limit consumer spending can negatively affect the DIY & Hardware Store Market in Belgium.

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.