$5.3bn
$XXX.Xm
13,110
1,716
$XXX.Xm
Canadian hardware stores retail building and home renovation supplies to professional contractors and consumers. Stores are characterized by their homogeneous products, leading to a high level of price-based competition. The industry has endured significant volatility recently because of a mediocre housing market and climbing interest rates. Sales were also dampened by the closure of many retail outlets during the pandemic. However, the housing market exploded in 2020 and 2021, which benefitted hardware stores and fuelled revenue growth of 12.0% in 2021 alone. Revenue is expected to swell at a CAGR of 3.4% to $5.3 billion through the end of 2024, including growth of 4.6% in 2024 alone.
Industry revenue has grown at a CAGR of 3.4 % over the past five years, to reach an estimated $5.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Home Hardware Stores Limited | 502.0 | 32.1 | 6.4 | |
VIVACO cooperative group | 161.6 | N/A | N/A | |
Ace Hardware Corporation | 153.7 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Hardware, Lawn, garden and farm supplies and Paint and sundries. Hardware is the largest segment of the Hardware Stores in Canada.
Hardware accounts for the largest share of hardware store revenue
The Hardware Stores industry in Canada primarily retails a wide range of new home renovation equipment and supplies. Hardware, plumbing, electrical and paint-related tools are the most commonly stocked goods. Consumers purchase the vast majority of the goods supplied by this industry for private use, while contractors purchase a small share for commercial use.
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NAICS 444130 - Hardware Stores in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Favourable trends promote revenue growth. This expansion has been because of a boost in residential renovation expenditure, housing starts and the value of nonresidential con...
Learn about an industry's products and services, markets and trends in international trade.
Most products sold by hardware stores are related, including buying nails and lumber. That’s why an individual product segment didn’t endure a strong departure from the norm ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The geographic spread of hardware stores reflects the distribution of the population. A more dense population results in strong sales volumes for hardware store products.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Canadian hardware stores are exposed to high competition. Canadian hardware stores compete on factors like store location, price, product quality, presentation and customer s...
Learn about the performance of the top companies in the industry.
Only one hardware store represents at least 5.0% of the market. The industry is otherwise very fragmented, with many small—and medium-size businesses catering to specific com...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Canadian hardware stores don’t receive direct assistance from federal, provincial or municipal governments. However, they benefit indirectly when contractors purchase product...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The cost structures of Canadian hardware store retailers vary depending on several factors. Single-establishment companies will have a different cost structure than retailers...
Including values and annual change:
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Key data sources in Canada include:
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These sources include:
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The market size of the Hardware Stores industry in Canada is $5.3bn in 2024.
There are 1,716 businesses in the Hardware Stores industry in Canada, which has declined at a CAGR of 1.5 % between 2019 and 2024.
The market size of the Hardware Stores industry in Canada has been growing at a CAGR of 3.4 % between 2019 and 2024.
Over the next five years, the Hardware Stores industry in Canada is expected to grow.
The biggest companies operating in the Hardware Stores market in Canada are Home Hardware Stores Limited, VIVACO cooperative group and Ace Hardware Corporation
Retailing hardware and Retailing lawn, garden and farm tools and equipment are part of the Hardware Stores industry.
The company holding the most market share in Canada is Home Hardware Stores Limited.
The level of competition is high and steady in the Hardware Stores industry in Canada.