Market Size of United States Hardware Stores Retail Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 56.12 Billion |
| Market Size (2029) | USD 71.25 Billion |
| CAGR (2024 - 2029) | 4.89 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Hardware Stores Retail Market Analysis
The United States Hardware Stores Retail Market size is estimated at USD 56.12 billion in 2024, and is expected to reach USD 71.25 billion by 2029, growing at a CAGR of 4.89% during the forecast period (2024-2029).
The hardware store retail market in the United States is a significant part of the broader home improvement industry. The primary reason behind the surge in demand for hardware retailers is the growing embrace of home appliances in renovation projects. This is driven by an increased need for effective storage cabinetry, evolving appliance preferences, trends in hardwood flooring and backsplashes, and a desire for more efficient connections with outdoor spaces. Additionally, the expanding presence of the e-commerce sector and the notable rise in online sales contribute significantly to the heightened demand for products.
With homeowners dedicating more time to their homes, the ability to work remotely allowed for a migration of focus. This trend and the constrained housing market led many families to choose renovation over new construction. This shift has proven advantageous for the home improvement retail industry.
United States Hardware Stores Retail Industry Segmentation
Hardware store retail refers to the business of selling a variety of tools, equipment, and supplies used in construction, maintenance, and repair tasks. The US hardware stores retail market is segmented by product type and distribution channel. By product type, the market is segmented into door hardware, building materials, kitchen and toilet products, and other product types. By distribution channel, the market is segmented into offline and online. The report offers market sizing and forecasts in value (USD) for all the above segments.
| By Product Type | |
| Door Hardware | |
| Building Materials | |
| Kitchen and Toilet Products | |
| Other Product Types |
| By Distribution Channel | |
| Offline | |
| Online |
United States Hardware Stores Retail Market Size Summary
The United States hardware stores retail market is a vital segment of the home improvement industry, experiencing growth driven by the increasing integration of home appliances in renovation projects. This trend is fueled by a heightened demand for effective storage solutions, evolving preferences in home design, and a desire for seamless connections with outdoor spaces. The market is also benefiting from the rise in e-commerce, with online sales playing a significant role in meeting consumer demand. As homeowners invest more time in their living spaces, often opting for renovations over new constructions due to remote work flexibility and a constrained housing market, the hardware retail sector sees a positive impact. This shift towards home improvement activities boosts the demand for hardware products, including tools, fasteners, and building materials, thereby driving market growth.
The market landscape is characterized by a fragmented structure with numerous players, including major companies like Home Depot, Lowe's, Menard, Ace Hardware, and True Value Hardware. These retailers focus on offering high-quality products from reputable brands to cater to the evolving needs of consumers. The growth of DIY projects and the increasing awareness of sustainable home solutions further contribute to the market's expansion. Economic factors such as low interest rates and a robust housing market encourage homeowners to undertake improvement projects, enhancing the demand for hardware supplies. Additionally, the digital transformation of hardware stores allows for broader customer reach and increased revenue potential, as seen with Ace Hardware's successful online sales.
United States Hardware Stores Retail Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in Home Improvement and Renovation Projects
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1.3 Market Restraints
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1.3.1 Hardware Stores Often Experience Seasonal Demand Variations
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1.4 Market Opportunities
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1.4.1 Hardware Stores Thrive as Innovation Drives Customer Engagement and Efficiency
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1.5 Value Chain Analysis
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1.6 Industry Attractiveness: Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Insights into Technological Advancements in the Industry
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1.8 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Door Hardware
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2.1.2 Building Materials
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2.1.3 Kitchen and Toilet Products
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2.1.4 Other Product Types
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2.2 By Distribution Channel
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2.2.1 Offline
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2.2.2 Online
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United States Hardware Stores Retail Market Size FAQs
How big is the United States Hardware Stores Retail Market?
The United States Hardware Stores Retail Market size is expected to reach USD 56.12 billion in 2024 and grow at a CAGR of 4.89% to reach USD 71.25 billion by 2029.
What is the current United States Hardware Stores Retail Market size?
In 2024, the United States Hardware Stores Retail Market size is expected to reach USD 56.12 billion.
