Tools & Machines - Czechia | Statista Market Forecast

In Czechia, the Tools & Machines market recorded a revenue of US$344.10m in 2024.
It is projected to experience a steady annual growth rate of 3.81% (CAGR 2024-2029).
Comparatively, China leads the global market with a revenue of US$78bn in the same year.
Looking at the per person figures, the revenue generated amounts to US$32.76 in 2024.
The Czechia Tools & Machines market is witnessing a surge in demand for high-quality and precision-engineered tools, driven by the country's strong manufacturing sector.

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 Czechia nan is experiencing minimal growth, impacted by factors such as limited consumer demand due to economic uncertainty and increased competition from cheaper products. Despite this, digital technologies and online services are slowly gaining traction in the DIY & Hardware Store Market, indicating potential future growth.

Customer preferences: Consumers in Czechia are increasingly looking for tools and machines that can help them save time and effort in their DIY and home improvement projects. This has led to a growing demand for power tools and automated equipment in hardware stores. Additionally, the rise of online shopping and e-commerce has made it easier for consumers to compare prices and access a wider range of products. As such, hardware stores are now expanding their online presence to cater to this shift in consumer preferences.

Trends in the market: In Czechia, there is a noticeable increase in the use of technology and online platforms in the Tools & Machines Market within the DIY & Hardware Store Market. This includes the use of e-commerce websites and mobile applications for purchasing tools and machines, as well as the adoption of smart tools and connected devices for more efficient and precise work. These trends are expected to continue, with the potential for virtual reality and augmented reality technologies to significantly enhance the purchasing and usage experience for consumers. This shift towards digitalization has significant implications for industry stakeholders, as it offers new opportunities for product development and market expansion, while also posing challenges in terms of adapting to the changing market landscape. Manufacturers and retailers will need to stay ahead of these trends to remain competitive and meet the evolving needs of consumers.

Local special circumstances: In Czechia, the Tools & Machines Market within the DIY & Hardware Store Market is influenced by the country's geographical location and cultural preferences. Being a land-locked country, transportation costs can increase prices of imported tools and machines. Additionally, Czechs have a strong DIY culture and value high-quality, durable tools, leading to a demand for reputable brands. Regulatory factors, such as safety standards and labeling requirements, also play a role in the market's dynamics.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Czechia is significantly impacted by macroeconomic factors such as the country's economic health, fiscal policies, and global economic trends. The performance of the market is heavily influenced by the overall economic stability of the country, as well as any changes in fiscal policies that may impact consumer spending and market demand. Moreover, the market is also affected by global economic trends, including trade policies, economic growth, and currency fluctuations. These factors can either positively or negatively impact the market, creating challenges and opportunities for market players. Additionally, the increasing trend of DIY and home improvement activities in Czechia is also driving the growth of the Tools & Machines Market, making it a lucrative market for investments.

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.