Market Insights Consumer DIY & Hardware Store

Heating & Cooling - Morocco

Morocco

In 2024, the revenue in the Heating & Cooling market in Morocco amounts to €160.60m.
It is anticipated that the market will experience an annual growth rate of 4.62% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this market segment, amounting to €116bn in 2024.
In terms of per capita revenues, the figure stands at €4.20 in 2024.
Morocco's heating and cooling market is experiencing a surge in demand for energy-efficient solutions due to the country's commitment to sustainability.

Key regions: India, Japan, China, Turkey, Worldwide

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The DIY & Hardware Store Market in Morocco has seen minimal growth due to various factors, including low consumer awareness and limited access to technology. Despite this, the Heating & Cooling Market has shown some growth, driven by increasing demand for DIY solutions and the convenience of online shopping.

Customer preferences: As consumers become more environmentally conscious, there has been a growing trend towards energy-efficient heating and cooling options within the DIY & Hardware Store Market in Morocco. This is driven by the government's efforts to promote sustainable living and reduce energy consumption. Additionally, with the rise in temperatures due to climate change, there is a greater demand for cooling systems. This has led DIY & Hardware stores to stock a variety of affordable, eco-friendly options to cater to this growing consumer demand.

Trends in the market: In Morocco, the Heating & Cooling market within the DIY & Hardware Store Market is experiencing an increase in demand for energy-efficient and sustainable products. This trend is driven by the government's focus on promoting green energy and reducing carbon emissions. As a result, there is a growing availability of eco-friendly heating and cooling options in hardware stores. This trend is expected to continue as consumers become more environmentally conscious and seek cost-effective solutions for their homes. Additionally, the rise in digital platforms and e-commerce is making it easier for consumers to compare and purchase products online, providing opportunities for industry stakeholders to expand their market reach and cater to the growing demand for sustainable heating and cooling solutions.

Local special circumstances: In Morocco, the DIY & Hardware Store Market for Heating & Cooling products is heavily influenced by the country's warm climate and geographic location. Due to the extreme temperatures, there is a high demand for cooling products such as air conditioners and fans. Additionally, the country's strict building codes and regulations require the use of energy-efficient heating and cooling solutions, driving demand for more advanced and eco-friendly products. Furthermore, the Moroccan culture places a strong emphasis on DIY and self-sufficiency, making the DIY & Hardware Store Market a popular choice for purchasing and installing heating and cooling systems.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in Morocco is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. The country's strong economic performance and stable fiscal policies have led to an increase in disposable income, enabling consumers to invest in home improvement and renovation projects. Additionally, rising urbanization and a growing middle class have increased demand for quality living standards, driving the demand for heating and cooling products. Moreover, favorable government regulations and initiatives to promote sustainable energy use have boosted the adoption of energy-efficient heating and cooling systems in the country.

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.