iBet uBet web content aggregator. Adding the entire web to your favor.

In Russia, the DIY & Hardware Store market generates a revenue of US$32.85bn in 2024.
It is projected to experience an annual growth rate of 2.04% (CAGR 2024-2029).
When compared globally, China leads the pack with a revenue of US$785bn in 2024.
Taking into account the total population, per person revenues amount to US$228.20 in 2024.
Russian consumers are increasingly turning to DIY and hardware stores for home improvement projects, driving the growth of the market.

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.

Tools such as power tools and hand tools
Hardware such as products related to safety and security
Lawn & Garden such as gardening tools and plant supplies
Heating & Cooling systems such as air conditioners and heaters
Bathroom fixtures such as toilets, faucets, and sinks
Floor Coverings such as parquet panels

Electrical supplies such as power inlets and extension cords
Household appliances such as refrigerators and dishwashers
Hardware services such as preventitive maintenance contracts
Professsional contruction machinery such as cement mixers
Air treatment devices such as purifiers and humidifiers

The DIY & Hardware Store market in Russia has seen a slow growth rate, influenced by factors such as economic instability, limited consumer spending power, and intense competition from local and international players. Furthermore, changing consumer preferences towards online shopping and the availability of DIY products in supermarkets also contribute to the market's stagnant growth. However, with the growth of the housing sector and increasing government investments in infrastructure, the market is expected to see gradual growth in the coming years.

Customer preferences: Russian consumers have begun to place a greater emphasis on sustainable and eco-friendly products in the DIY & Hardware Store Market. This trend is driven by a growing awareness of environmental issues and a desire to reduce one's carbon footprint. As a result, there is a growing demand for items such as energy-efficient appliances, eco-friendly building materials, and reusable products. This shift towards sustainability in the market reflects a larger cultural shift towards more environmentally conscious lifestyles in Russia.

Trends in the market: In Russia, the DIY & Hardware Store Market is seeing a surge in digitalization, with more stores offering online ordering and delivery services. This trend is driven by the increased use of smartphones and e-commerce platforms, as well as the convenience it provides for customers. The trajectory of this trend is expected to continue upwards, with a potential shift towards augmented reality solutions for virtual shopping experiences. This has significant implications for industry stakeholders, as it allows for increased market reach and efficiency in supply chain management. However, it also poses challenges for traditional brick-and-mortar stores to stay competitive.

Local special circumstances: In Russia, the DIY & Hardware Store Market is heavily influenced by the country's vast geography and varying climate conditions. Due to long winters and remote locations, there is a high demand for DIY and home improvement products. Additionally, the popularity of DIY projects among Russian consumers, fueled by a strong do-it-yourself culture, drives market growth. Furthermore, strict regulations on imported goods and high import tariffs create opportunities for local manufacturers to thrive in the market.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Russia is heavily influenced by macroeconomic factors such as national economic health, fiscal policies, and global economic trends. The country's GDP growth rate, inflation rates, and interest rates all impact consumer spending and, consequently, the demand for DIY and hardware products. In addition, the government's fiscal policies, such as tax rates and trade policies, can affect the cost of raw materials and imported goods, ultimately impacting the overall market performance. Furthermore, global economic trends, such as fluctuations in commodity prices and currency exchange rates, can also greatly impact the market. As the economy recovers and consumer confidence increases, the demand for DIY and hardware products is expected to rise. However, any economic downturn or political instability could hinder market growth and pose a challenge for the DIY & Hardware Store Market in Russia.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Building and renovating homes involves general contractors and subcontractors who build new homes and remodel existing homes. Home renovation projects also encompass the remodeling of external structures such as gardens, garages, and lawns. The total U.S. home improvement expenditure amounted to 566 billion U.S. dollars in 2022. Homeowners undertake home improvement to make residential properties more comfortable, upgrade air conditioning and heating systems, waterproof roofs and basements, soundproof rooms, and to extend their homes and boost energy savings.