DIY & Hardware Store - Europe

  • Europe
  • In Europe, the revenue generated in the DIY & Hardware Store market is projected to reach €349.30bn in 2024.
  • It is anticipated that the market will experience an annual growth rate of 2.52% (CAGR 2024-2029).
  • When compared on a global scale, the highest revenue is generated in China, amounting to €720bn in 2024.
  • In terms of per person revenues, €413.90 is generated in Europe in 2024.
  • In Spain, the DIY & hardware store market is experiencing a surge in sales due to the growing trend of home improvement projects during the COVID-19 pandemic.

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

 
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Comparaison de régions
 
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Analyst Opinion

The DIY & Hardware Store market in Europe is facing sluggish growth due to factors such as low consumer spending and the rise of online competitors. However, there is potential for growth in sub-markets such as Floor Covering and Heating & Cooling, thanks to increasing demand for home renovation and energy efficiency. Additionally, the convenience and cost-effectiveness of online shopping may impact the overall market's growth rate in the future.

Customer preferences:
As consumer lifestyles in Europe continue to shift towards sustainable living and reducing waste, there has been a rise in demand for eco-friendly and environmentally conscious products in the DIY & Hardware Store Market. This trend is driven by cultural values and a growing awareness of the negative impact of single-use and non-recyclable products on the environment. As a result, retailers are offering a wider range of green and sustainable options, catering to the increasing demand for environmentally friendly DIY and home improvement products.

Trends in the market:
In Europe, the DIY & Hardware Store Market is experiencing a shift towards online retailing, with an increasing number of consumers purchasing hardware and DIY supplies through e-commerce channels. This trend is expected to continue, driven by the convenience and competitive prices offered by digital platforms. Moreover, there is a growing emphasis on sustainability and eco-friendly products, with a rise in demand for energy-efficient and environmentally-friendly solutions. This presents opportunities for industry players to adapt and innovate in order to meet evolving consumer preferences and regulations. Additionally, advancements in technology, such as the use of augmented reality for product visualization and virtual home design tools, are further enhancing the online shopping experience for customers.

Local special circumstances:
In Europe, the DIY & Hardware Store Market is influenced by the region's strong DIY culture, with many consumers preferring to tackle home improvement projects themselves. This is reflected in the wide availability of DIY products and the popularity of home improvement TV shows and websites. Additionally, European countries have varying regulations on housing standards and building codes, leading to different consumer needs and preferences in each country. For example, countries with stricter regulations may see a higher demand for specialized hardware and tools, while countries with more lax regulations may have a greater demand for affordable products. These local factors play a significant role in shaping the DIY & Hardware Store Market in Europe and should be considered when developing marketing strategies for this market.

Underlying macroeconomic factors:
The DIY & Hardware Store Market in Europe is influenced by various macroeconomic factors, such as economic growth, consumer spending, and government policies. Countries with strong economic growth and stable fiscal policies are expected to see a rise in consumer spending on home improvement and DIY projects, leading to a robust market growth for hardware stores. In addition, the increasing trend of home renovation and remodeling in Europe, driven by the aging population and improving household incomes, is expected to fuel the demand for DIY and hardware products. However, economic uncertainties, such as Brexit and trade tensions, could potentially affect consumer confidence and overall market performance.

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