Market Insights Consumer DIY & Hardware Store

Hardware & Building Materials - Algeria

Algeria

In Algeria, the Hardware & Building Materials market generates a revenue of €5.67bn in 2024.
With an annual growth rate of 1.97% (CAGR 2024-2029), the market is projected to expand steadily.
When compared globally, in China leads the pack with a revenue of €482bn in 2024.
Considering the population, the per person revenue amounts to €122.50 in 2024.
Algeria is experiencing a surge in demand for sustainable and energy-efficient building materials, reflecting the country's commitment to environmental sustainability.

Key regions: Indonesia, Turkey, Japan, China, Germany

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Hardware & Building Materials market in Algeria is witnessing negligible growth, which can be attributed to factors such as low consumer demand, limited availability of raw materials, and economic challenges. Despite this, the market continues to experience growth, driven by the rising popularity of DIY projects and the increase in housing construction activities. Additionally, the convenience and cost-effectiveness of online purchases are also contributing to the market's growth.

Customer preferences: As the Hardware & Building Materials Market within the DIY & Hardware Store Market in Algeria continues to expand, consumers are increasingly demanding eco-friendly and sustainable products. This trend is fueled by a growing awareness of environmental concerns and a desire for healthier living. Consumers are also prioritizing durable and long-lasting materials for their DIY projects, pointing towards a shift towards more mindful and conscious purchasing habits. This aligns with the overall move towards a more environmentally-friendly and sustainable lifestyle in the country.

Trends in the market: In Algeria, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing an increase in demand for eco-friendly and sustainable products. This is driven by a growing consciousness towards the environment and the need for energy-efficient and cost-effective solutions. Additionally, there is a rise in online shopping for hardware and building materials, as consumers are increasingly relying on digital platforms for purchases. These trends have significant implications for industry stakeholders, as it highlights the need for businesses to adapt to changing consumer preferences and invest in online presence and sustainable product offerings to stay competitive in the market.

Local special circumstances: In Algeria, the Hardware & Building Materials Market within the DIY & Hardware Store Market is influenced by the country's geographical location, with a large portion of the population living in remote areas with limited access to brick-and-mortar stores. This has led to the rise of e-commerce platforms for purchasing hardware and building materials. Additionally, the country's cultural preference for DIY projects has resulted in a demand for affordable and convenient options, driving the growth of DIY and hardware stores in urban areas. Government regulations also play a role, with import tariffs and trade barriers affecting the availability and cost of certain products.

Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market in Algeria is strongly influenced by macroeconomic factors such as the country's economic health, government policies, and global economic trends. Algeria has seen consistent economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has positively impacted the demand for hardware and building materials, as individuals and businesses have more resources to invest in home improvement and construction projects. Moreover, the government's focus on infrastructure development and support for the DIY market has also contributed to the growth of the sector. Additionally, global economic trends, such as the increasing demand for sustainable and energy-efficient building materials, have also influenced market performance in Algeria.

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.