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Hardware Stores in the US - Industry Market Research Report

  • July 2017
  • 35 pages
  • Ibisworld
Report ID: 198904

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Hammer time: Continued competition from home improvement stores and online retailers will stagnate profitability

Abstract

Hardware Stores in the US

The Hardware Stores industry has steadily built up over the five years to 2017. As the housing market has strengthened and consumer confidence has revived, individuals have started home improvement projects that had been put on hold during the recession. Low mortgage rates during the period have also encouraged individuals to purchase and renovate new and existing homes. This flurry of construction activity has boosted demand for industry products from both contractors and do-it-yourself consumers.

Over the five years to 2022, industry revenue is projected to grow at a slower rate. The strengthening housing market and projected increase in home improvement spending will continue to drive industry demand, but as larger home improvement stores and online retailers absorb rising demand for industry goods, industry operators will have to increasingly compete based on price. As a result, despite increasing consumer spending, average industry profit is expected to remain stagnant.

Companies in this industry primarily retail a broad range of new home renovation equipment and supplies. Hardware, plumbing, electrical and paint-related tools are the most commonly stocked goods.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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