DIY & Hardware Store - United States

United States

In the United States, the revenue generated in the DIY & Hardware Store market in 2024 amounts to €612.00bn.
It is projected that the market will experience an annual growth rate of 2.75% from 2024 to 2029 (CAGR 2024-2029).
When compared to other countries, in China leads the global market with a revenue of €728bn in 2024.
In terms of per person revenues, in the United States, each individual generates €1,790.00 in 2024.
The United States has seen a rise in online DIY and hardware stores, as consumers seek convenience and a wider range of products.

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.

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Comparación de regiones

Moneda

Analyst Opinion

The DIY & Hardware Store market in the United States is currently experiencing slow growth, influenced by factors such as a decline in consumer spending and a shift towards online shopping. Despite this, the market continues to see growth in sub-sectors such as floor covering and hardware. Rising competition from e-commerce giants and the availability of DIY tutorials online have also contributed to the market's modest growth rate.

Customer preferences: As the millennial population grows and makes up a larger portion of homeowners, there has been an increase in demand for eco-friendly and sustainable building materials and products. This trend is further amplified by the rise of the DIY movement, with consumers looking for ways to reduce costs and be more self-sufficient. Additionally, there is a growing interest in repurposing and upcycling materials for home improvement projects, reflecting a shift towards a more conscious and environmentally-friendly lifestyle.

Trends in the market: In the United States, the DIY & Hardware Store Market is seeing a surge in e-commerce sales, with more consumers opting for online purchasing options amidst the COVID-19 pandemic. This trend is expected to continue as consumers prioritize convenience and safety. Additionally, there is a growing demand for eco-friendly and sustainable products, driving retailers to incorporate green options in their product offerings. Industry stakeholders will need to adapt and invest in digital strategies to stay competitive and cater to the evolving needs of consumers.

Local special circumstances: In the United States, the DIY & Hardware Store market is heavily influenced by the country's widespread culture of DIY home improvement and renovation projects. This is further supported by the availability of a wide range of hardware and building materials, as well as the ease of obtaining necessary permits and approvals for construction. Additionally, various regional and local regulations, such as building codes and zoning laws, also affect the market landscape and consumer behavior in this industry. This unique combination of factors encourages a thriving DIY & Hardware Store market in the United States, setting it apart from other countries.

Underlying macroeconomic factors: Similarly, the DIY & Hardware Store Market in the United States is heavily influenced by macroeconomic factors such as consumer confidence, interest rates, and fiscal policies. With a strong economy and stable consumer spending, the market is expected to experience steady growth. However, any changes in interest rates or consumer confidence could impact overall demand for DIY and hardware products. Additionally, policies related to trade and tariffs could also have an impact on market performance, as many of the products sold in these stores are imported. Overall, a stable and growing national economy is crucial for the success of the DIY & Hardware Store Market in the United States.

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.