Tools & Machines - Chile | Statista Market Forecast

In Chile, the Tools & Machines market generates a revenue of US$691.40m in 2024.
It is projected to experience an annual growth rate of 2.88% (CAGR 2024-2029).
When compared globally, China generates the highest revenue, amounting to US$78bn in 2024.
In terms of per capita figures, each person in Chile generates a revenue of US$35.17 in 2024.
Despite economic challenges, Chilean manufacturers in the Tools & Machines market are investing in advanced technology to increase productivity and compete globally.

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 Chile's DIY & Hardware Store market has seen slow growth, impacted by factors like limited consumer demand and economic instability. However, the market's potential for growth remains high as digital tools and technologies are increasingly adopted and consumer awareness of DIY projects continues to rise.

Customer preferences: As the DIY trend continues to gain popularity in Chile, consumers are increasingly looking for efficient and convenient tools and machines to assist them in their projects. This has led to a growing demand for power tools, such as electric drills and saws, which provide more precision and ease of use. Additionally, there has been a rise in demand for eco-friendly and sustainable options in this market, as consumers become more conscious of their impact on the environment. This shift towards environmentally-friendly tools and machines reflects a larger cultural trend towards sustainability and responsible consumerism.

Trends in the market: In Chile, the trend towards DIY and home improvement has led to an increase in demand for tools and machines within the hardware store market. This is driven by a growing interest in home renovation and construction projects, as well as an emphasis on self-sufficiency and cost savings. As a result, there is a rising demand for high-quality and affordable tools that can be used by both professionals and DIY enthusiasts. This trend is expected to continue, with the tools and machines market projected to witness steady growth. This presents opportunities for industry stakeholders to capitalize on the demand by offering a wide range of tools and machines, and also investing in innovative technologies to cater to the evolving needs of consumers.

Local special circumstances: In Chile, the Tools & Machines Market within the DIY & Hardware Store Market is influenced by the country's diverse geography and climate. The high demand for durable and weather-resistant tools and machines is driven by the country's long coastline and mountainous regions, where outdoor activities like fishing and hiking are popular. Additionally, the Chilean government's emphasis on environmental sustainability has led to a growing demand for eco-friendly tools and equipment. The market is also shaped by the country's cultural preference for self-sufficiency, with DIY and home improvement projects being a common practice among households. This has resulted in a robust market for high-quality and affordable tools and machines, catering to the needs of both professional and amateur DIY enthusiasts.

Underlying macroeconomic factors: In Chile, the Tools & Machines Market within the DIY & Hardware Store Market is heavily influenced by macroeconomic factors. Firstly, global economic trends have a direct impact on the demand for tools and machines, as they are essential for construction, repair, and maintenance activities. Economic slowdowns can lead to a decline in construction and renovation projects, affecting the sale of tools and machines. Secondly, the country's national economic health plays a crucial role in determining the purchasing power of consumers. A stable economy with low unemployment rates can contribute to a higher demand for tools and machines. Moreover, fiscal policies such as tax incentives for home improvement projects can also stimulate market growth. Finally, other relevant financial indicators, such as consumer confidence and interest rates, can also impact the performance of the Tools & Machines Market in Chile.

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.