Home Centers & Hardware Stores Industry Profile

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Excerpt from Home Centers & Hardware Stores Industry Profile

Companies in this industry sell building supplies, lumber, hardware, tools, and other home repair and improvement products. Major companies include CW Home Depot, Lowe's, Menards, and True Value (all based in the US), as well as Kingfisher (UK), Leroy Merlin (France), OBI (Germany), and Lowe's-owned RONA (Canada).

The global DIY/home improvement retail market, which includes home centers and hardware stores, is projected to exceed $780 billion by 2027, growing at a CAGR of 3.2% from 2019, according to Research Dive. Surging focus of people on zero-waste DIY projects to create an eco-friendly home is likely to reveal rewarding opportunities for the market growth. The Asia-Pacific region is anticipated to observe significant growth.

The US home center and hardware store industry includes about 21,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $190 billion.

Home centers and hardware stores sell many of the same products, but home centers typically offer more building supplies (such as lumber and flooring) and appliances than hardware stores.

COMPETITIVE LANDSCAPE

Home remodeling and repair and new homebuilding drive demand. The profitability of individual companies depends on low-cost purchasing, effective merchandising, and competitive pricing. Large companies can offer wide selections, supply high-volume goods to builders, and have advantages in purchasing, finance, distribution, and marketing. Small companies can compete by offering specialty products, providing superior service, or serving a local market. The home center segment ...

 
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