Hardware Stores in Canada - Industry Market Research Report
Description
Hardware Stores in Canada
Canadian hardware stores retail a variety of building and home renovation supplies to professional contractors and consumers, characterized by their homogeneous products, leading to a high level of price-based competition among the many small hardware stores. The industry has floundered over much of the five years to 2023 because of a mediocre housing market and boosting interest rates, a trend that was exacerbated by the closure of many retail outlets for several months in 2020 due to the COVID-19 pandemic. However, the housing market exploded in 2020 and 2021, a trend from which hardware stores in Canada benefited, resulting in industry revenue growing 17.2% in 2021 alone. Overall, revenue has been expanding at a CAGR of 3.5% over the past five years, and is expected to reach $3.9 billion in 2023, despite a 4.2% dip in revenue over the year.
The Hardware Stores industry in Canada primarily retails a broad range of new home renovation equipment and supplies. Hardware, plumbing, electrical and paint-related tools are the most commonly stocked goods. Consumers purchase a large majority of the goods supplied by this industry for private use, while contractors purchase a small share of goods for commercial use.
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.
Canadian hardware stores retail a variety of building and home renovation supplies to professional contractors and consumers, characterized by their homogeneous products, leading to a high level of price-based competition among the many small hardware stores. The industry has floundered over much of the five years to 2023 because of a mediocre housing market and boosting interest rates, a trend that was exacerbated by the closure of many retail outlets for several months in 2020 due to the COVID-19 pandemic. However, the housing market exploded in 2020 and 2021, a trend from which hardware stores in Canada benefited, resulting in industry revenue growing 17.2% in 2021 alone. Overall, revenue has been expanding at a CAGR of 3.5% over the past five years, and is expected to reach $3.9 billion in 2023, despite a 4.2% dip in revenue over the year.
The Hardware Stores industry in Canada primarily retails a broad range of new home renovation equipment and supplies. Hardware, plumbing, electrical and paint-related tools are the most commonly stocked goods. Consumers purchase a large majority of the goods supplied by this industry for private use, while contractors purchase a small share of goods for commercial use.
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.
Table of Contents
39 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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