The DIY & Hardware Store Market in Egypt has shown limited growth due to the slow adoption of digital tools and machines. Factors such as low awareness and limited online services availability have also contributed to the negligible growth rate in this market.
Customer preferences: The DIY and hardware store market in Egypt has witnessed a trend towards eco-friendly and sustainable tools and machines. Consumers are showing a preference for environmentally-friendly options that reduce their carbon footprint. This shift in consumer behavior is driven by a growing awareness of climate change and a desire to make more ethical purchasing decisions. Additionally, there has been a rise in demand for multifunctional tools that offer convenience and efficiency, catering to the busy lifestyles of urban dwellers. The market has also seen an influx of advanced power tools catering to the growing DIY culture among younger generations.
Trends in the market: In Egypt, the DIY & Hardware Store Market has seen a surge in demand for power tools and machinery. This increase can be attributed to the growing popularity of DIY projects and home renovations. Furthermore, the market has witnessed a shift towards more advanced and automated tools, such as cordless power drills and electric saws. This is a reflection of the global trend towards digitization and automation in the construction industry. Industry stakeholders must adapt to this trend by offering a wide range of technologically advanced tools and investing in online platforms to reach a larger customer base. Failure to do so can result in a loss of market share and competitive advantage.
Local special circumstances: In Egypt, the Tools & Machines Market within the DIY & Hardware Store Market is heavily influenced by the country's geographical location as a hub for trade in North Africa and the Middle East. This has led to a diverse range of products being available in the market, catering to the varied needs of local consumers. Additionally, cultural factors such as a strong do-it-yourself (DIY) culture and a preference for durable products have shaped the market. Regulatory policies, such as strict import regulations, also play a role in shaping the market dynamics.
Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Egypt is influenced by a variety of macroeconomic factors. Global trends, such as the increasing demand for DIY and home improvement projects, drive growth in this market. National economic health and fiscal policies also play a role, as a stable economy and supportive policies can boost consumer confidence and spending on tools and machines. Other relevant financial indicators, such as interest rates and currency exchange rates, also impact market performance in Egypt and influence the prices of tools and machines. Furthermore, the government's investment in infrastructure and the overall development of the construction sector in Egypt also contribute to the growth of the market.
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.
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