Tools & Machines - Cameroon | Statista Market Forecast

in Cameroon, a country Africa, also contributes to the revenue in the Tools & Machines market.
In 2024, the revenue from this market in Cameroon amounts to US$365.60m.
Looking ahead, the market is projected to experience an annual growth rate of 3.65% between 2024 and 2029 (CAGR 2024-2029).
When comparing Cameroon's revenue to other countries globally, it is important to note that China generates the highest revenue in the Tools & Machines market, with an estimated amount of US$78bn in 2024.
To gain a better understanding of the revenue generated, it is useful to consider the per person revenue in Cameroon.
In 2024, per person revenues in the Tools & Machines market amount to US$12.44.
Cameroon's 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

The Tools & Machines market in the DIY & Hardware Store Market in Cameroon is experiencing minimal growth due to factors such as low adoption of digital technologies and limited health awareness among consumers. Online services offer convenience, yet struggles to thrive.

Customer preferences: With the rise of DIY projects during the pandemic, there has been a noticeable increase in demand for advanced tools and machines in Cameroon's DIY & Hardware Store Market. This trend is largely driven by a growing interest in home improvement and customization, as well as the desire for cost-effective solutions. Additionally, there has been a cultural shift towards self-reliance and a DIY mentality, especially among the younger generation. This has led to a rise in sales of power tools, such as electric drills and saws, as well as advanced machinery like 3D printers and laser cutters, as consumers look for more efficient and precise ways to complete their projects.

Trends in the market: In Cameroon, there is a growing trend of using power tools and machines in the DIY & Hardware Store Market. This trend is driven by the increased popularity of DIY projects and the availability of affordable tools. Additionally, there is an increasing demand for more specialized tools such as electric saws and drills. This trend is expected to continue as more people embrace DIY projects and seek efficient and convenient tools. These developments present an opportunity for industry stakeholders to expand their product offerings and cater to the evolving needs of customers. However, it also calls for continuous innovation and investment in technology to stay competitive in the market. Overall, the trajectory of this trend is towards a more diverse and technologically advanced Tools & Machines Market in Cameroon, with potential implications for both consumers and businesses in the DIY & Hardware Store Market.

Local special circumstances: In Cameroon, the Tools & Machines Market within the DIY & Hardware Store Market is influenced by the country's unique geographic and cultural factors. As a mostly rural population, the demand for DIY and hardware products may be lower compared to more urbanized countries. Additionally, cultural preferences and traditional methods of construction and repair may also impact the types of tools and machines that are in demand. Regulations and supply chain challenges, such as import restrictions and limited distribution channels, may also affect the availability and pricing of these products in the market.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Cameroon is affected by macroeconomic factors such as the country's overall economic performance, government policies, and global economic trends. The market growth is influenced by the availability of disposable income, consumer confidence, and inflation rates. Moreover, favorable government regulations and investments in infrastructure play a crucial role in driving market growth. The increasing demand for DIY and home improvement projects, along with the expanding construction industry, is also contributing to the rise in demand for tools and machines in Cameroon. However, challenges such as political instability, limited access to credit, and supply chain disruptions can hinder market growth in the country.

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.