Tools & Machines - BRICS | Statista Market Forecast

In 2024, the Tools & Machines market in BRICS is projected to generate a revenue of US$101.60bn.
This market segment is expected to grow annually by 2.20%, according to the compound annual growth rate (CAGR) between 2024 and 2029.
Among the BRICS countries, China leads the way in terms of revenue, generating US$78bn in 2024.
When considering the population figures, the per person revenue in 2024 amounts to US$30.81.
In Brazil, the tools and machines market is experiencing a surge in demand due to the country's growing construction and manufacturing sectors.

Definition:

In the segment Tools & Machines, the focus lies on the different types of tools that can be used for DIY & Hardware. This includes the most common types of tools such as hand tools and power tools as well as measuring and marking tools. Also, tools accessories such as replaceable parts of tools are covered by this segment.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

Hand tools
Power tools
Measuring & marking tools
Tool accessories

Tool storage & work surfaces
Power & electrical supplies (power inlets, solar energy kits, extension cords, etc.)
Professional construction machinery and masonry tools (cement mixer, power trowels)
Industrial gases & accessories
Vacuum cleaners
Car accessories
Workwear & protective clothing

In BRICS nan, the DIY & Hardware Store Market has seen minimal growth due to factors such as low consumer interest in DIY projects and limited access to digital tools & machines. This has hindered the market's potential for growth, despite increasing health awareness.

Customer preferences: The DIY & Hardware Store Market within the BRICS countries has seen a rise in demand for technologically advanced tools and machines, catering to the growing DIY culture among consumers. This has led to an increase in sales of power tools, such as cordless drills and electric saws. Furthermore, there is a growing trend of eco-friendly and sustainable products in the tools & machines market, as consumers become more conscious of their environmental impact. This shift towards more advanced and sustainable options highlights the increasing importance of convenience, efficiency, and environmental awareness among consumers in the BRICS countries.

Trends in the market: In the Tools & Machines Market within the DIY & Hardware Store Market, there is a significant trend towards the use of smart tools and equipment. This includes the incorporation of Internet of Things (IoT) technology, allowing for remote monitoring and control of tools. This trend is expected to continue, with a projected growth of the global smart tools market by 2025. This has significant implications for industry stakeholders, as it allows for increased efficiency, productivity and cost-savings. However, it also requires re-skilling and training for workers to adapt to these new technologies. Additionally, there is a growing demand for sustainable and eco-friendly tools, leading to the development of environmentally-friendly options in this market.

Local special circumstances: In Brazil, the Tools & Machines Market within the DIY & Hardware Store Market is heavily influenced by the country's large population and growing middle class. This has led to a demand for convenient and affordable home improvement solutions, driving the popularity of online stores and DIY tutorials. The government's regulatory policies also play a significant role, as certain tools and machines may require special certifications or permits for sale. Additionally, Brazil's diverse geographical landscape and cultural preferences can impact the types of tools and machines that are in demand in different regions.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in BRICS is affected by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. These factors influence consumer spending and business investments, which in turn impact the demand for tools and machines in the DIY & Hardware Store Market. Countries with stable economic growth and favorable fiscal policies are likely to experience higher demand for these products, while those with economic downturns may see a decrease in market performance. Additionally, government initiatives and investments in infrastructure development can also contribute to the growth of this market by creating opportunities for construction and home improvement projects.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

For those who want to start a do-it-yourself project to improve their home or give it a new style, the Home Depot might be considered a shopping paradise. Whether consumers prefer to buy in-store or online, the Home Depot offers a wide range of products such as appliances, building materials, hardware, indoor garden furniture, paint, kitchen, and bath decorating items, among other important products for home improvement projects. With stores across North America, the company is the leading DIY and home improvement chain in the United States and Canada. By the end of the fiscal year 2023, Home Depot had generated over 152 billion U.S. dollars in revenue, and its revenue in the previous year placed it as the home improvement leader worldwide.