DIY & Hardware Store - India

  • India
  • In 2024, the revenue in the DIY & Hardware Store market in India amounts to INR €204.30bn.
  • Looking ahead, the market is projected to grow at an annual rate of 1.79% (CAGR 2024-2029).
  • When compared globally, it is noteworthy that in China generates the highest revenue in this market segment, with an estimated amount of INR €720bn in 2024.
  • Considering the population figures, it is interesting to note that per person revenues in India reach INR €141.70 in 2024.
  • This indicates the significance of the DIY & Hardware Store market in India.
  • Despite the growing popularity of online shopping in India, physical DIY and hardware stores are still thriving due to the preference for hands-on, in-person shopping experiences.

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

 
Marché
 
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Comparaison de régions
 
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Analyst Opinion

With the increasing urbanization and disposable income of Indian consumers, the DIY & Hardware Store market has been growing significantly. Factors such as the rising demand for home improvement and renovation projects, technological advancements, and convenience offered by digital platforms, have contributed to this growth. However, the negligible growth rate can be attributed to the economic slowdown and high competition in the market.

Customer preferences:
There has been a noticeable uptick in the demand for eco-friendly and sustainable products in the Indian DIY & Hardware Store Market. This trend can be attributed to the growing awareness among consumers about the environmental impact of their purchases. Additionally, with the rise of the DIY culture, consumers are increasingly inclined towards products that are made from natural and renewable materials. This shift in consumer preference is also driven by the changing demographics and lifestyle factors, with younger generations seeking out sustainable options for their home improvement projects.

Trends in the market:
In India, the DIY & Hardware Store Market is experiencing significant growth, with an increasing number of consumers opting for DIY solutions for home improvement projects. This trend is primarily driven by the rise in disposable income and the growing popularity of home renovation and decoration shows. Additionally, there is a growing trend of online shopping for hardware and home improvement products, with major e-commerce players entering this market. This trajectory is significant as it offers convenience and cost-effectiveness to consumers, as well as new opportunities for industry stakeholders to tap into the digital market. However, it also presents challenges for traditional brick-and-mortar hardware stores, which may need to adapt to this shift in consumer behavior to remain competitive. As this trend continues to gain momentum, it is crucial for players in the DIY & Hardware Store Market to embrace digital strategies and innovate to meet the evolving needs of consumers.

Local special circumstances:
In India, the DIY & Hardware Store Market is influenced by the country's diverse population and strong DIY culture. With a large rural population, there is a significant demand for affordable and easily accessible hardware and home improvement products. Additionally, the government's focus on affordable housing and infrastructure development has further fueled the demand for DIY solutions. However, the market is also impacted by strict regulations on foreign direct investment, which has limited the entry of international players and led to the dominance of local players.

Underlying macroeconomic factors:
The growth of the DIY & Hardware Store Market market in India is heavily influenced by macroeconomic factors such as the country's economic growth, the government's fiscal policies, and global economic trends. India's growing economy and rising disposable incomes have fueled the demand for DIY and hardware products, leading to a strong market performance. Additionally, the government's focus on infrastructure development and the increasing number of households and urbanization in the country have further contributed to the market's growth. However, factors like inflation, exchange rates, and economic slowdown can also impact the market's performance. As India continues to experience economic growth and urbanization, the DIY & Hardware Store Market is expected to witness sustained growth.

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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