DIY & Hardware Store - Southeast Asia

Southeast Asia

The DIY & Hardware Store market in Southeast Asia is projected to generate a revenue of US$139.30bn in 2024.
It is anticipated to exhibit an annual growth rate of 2.86% (CAGR 2024-2029).
When compared on a global scale, in China leads the market with a revenue of US$785bn in 2024.
In terms of per capita income, each individual in Southeast Asia is expected to generate US$201.10 in revenue in 2024.
In Southeast Asia, Indonesia's DIY & Hardware Store market is booming, driven by the country's growing middle class and increasing urbanization.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The DIY & Hardware Store Market in Southeast Asia is experiencing gradual growth, influenced by factors such as increasing consumer preference for DIY projects, rising awareness of home improvement through online platforms, and the convenience offered by digital solutions. However, the market's growth rate is currently hindered by challenges such as intense competition, economic uncertainties, and limited infrastructure in some regions.

Customer preferences: As Southeast Asia becomes more urbanized and modernized, there is a growing demand for DIY and hardware stores. However, there has also been a noticeable shift in consumer preferences towards eco-friendly and sustainable products. This trend is driven by a growing awareness of environmental issues and a desire to reduce the carbon footprint. As a result, DIY and hardware stores are starting to stock more eco-friendly and sustainable products, such as energy-efficient tools and materials made from recycled materials. This trend is likely to continue as consumers in Southeast Asia become more environmentally conscious and seek out products that align with their values.

Trends in the market: In Southeast Asia, the DIY & Hardware Store Market is seeing a surge in online sales, driven by the rise of e-commerce platforms and increasing adoption of digital technologies. This trend is expected to continue as more consumers turn to online shopping for convenience and safety. Additionally, there is a growing demand for sustainable and eco-friendly products in the region, leading to a rise in eco-conscious DIY and hardware stores. These trends indicate a shift towards a digital and sustainable future for the industry, with potential implications for brick-and-mortar stores and traditional retail models.

Local special circumstances: In Southeast Asia, the DIY & Hardware Store market is heavily influenced by the region's diverse landscape, from bustling cities to rural communities. This has led to varying consumer preferences, with urban areas fueling demand for convenience and modernization while rural areas prioritize affordability and traditional building methods. Additionally, cultural traditions, such as communal living and frequent home renovation activities, drive the need for accessible hardware stores. Furthermore, varying government regulations and import tariffs create challenges for companies operating across multiple markets in the region. Overall, these unique factors shape the DIY & Hardware Store market in distinct ways, making it crucial for companies to adapt to the specific needs of each market in Southeast Asia.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Southeast Asia is greatly impacted by macroeconomic factors such as consumer spending, economic stability, and government regulations. In countries with strong economic growth and stable political environments, the DIY & Hardware Store Market experiences higher demand due to increased consumer purchasing power. On the other hand, regions with economic challenges and government regulations that restrict imports and exports may see slower market growth. Additionally, the rising trend of home renovations among the middle class in Southeast Asia is driving the demand for DIY & Hardware products, further contributing to market 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.