Tools & Machines - G7 | Statista Market Forecast

In 2024, the Tools & Machines market in G7 countries is projected to generate a revenue of US$63.80bn.
This market segment is anticipated to grow at an annual rate of 2.79% (CAGR 2024-2029).
When compared globally, the highest revenue is expected to be generated China, with a projected revenue of US$78bn in 2024.
In terms of per capita figures, the revenue generated per person in G7 countries is estimated to be US$81.97 in 2024.
In Germany, the Tools & Machines market is thriving due to the country's strong manufacturing sector and emphasis on precision engineering.

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 G7 nan, the Tools & Machines Market in DIY & Hardware Stores is experiencing a negligible growth rate due to factors such as fluctuating economic conditions and limited consumer spending. Despite this, the market is expected to slowly expand, driven by increasing demand for DIY projects and home renovations.

Customer preferences: Consumers in the Tools & Machines Market within the DIY & Hardware Store Market are becoming more environmentally conscious, leading to a rise in demand for eco-friendly and sustainable products. This trend is driven by a growing awareness of the impact of consumer choices on the environment. Additionally, there is a preference for products that are energy-efficient and use renewable resources. This shift is also influenced by the cultural value of being environmentally responsible and the desire for a healthier and more sustainable lifestyle.

Trends in the market: In the DIY & Hardware Store Market, the Tools & Machines Market is experiencing a surge in demand for smart tools and connected devices. This trend is driven by the increasing use of automation and technology in home improvement projects. Additionally, there is a growing interest in eco-friendly and energy-efficient tools, which aligns with the increasing focus on sustainability. These trends are significant as they cater to the evolving needs of consumers while also providing cost-effective and efficient solutions. Industry stakeholders need to adapt to these trends by offering innovative and eco-friendly products to stay competitive in the market.

Local special circumstances: In the Tools & Machines Market within the DIY & Hardware Store Market, local factors play a significant role in shaping market dynamics. For instance, in Japan, the market is driven by the country's large population of DIY enthusiasts, along with strict regulations on DIY safety and certifications. In contrast, in South Africa, the market is influenced by the country's booming construction sector and high demand for tools and machines in the DIY space. Additionally, cultural preferences and purchasing patterns also impact market growth in each region.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market is impacted by various macroeconomic factors such as the overall economic trends of the country, government policies related to the manufacturing industry, and consumer spending power. Countries with stable economic conditions and supportive policies for the growth of the DIY & Hardware Store Market are witnessing higher demand for tools and machines. Furthermore, the increasing investments in infrastructure development and construction projects also contribute to the growth of the market. The growing demand for DIY activities, driven by the rising trend of home improvement, is also a key factor boosting the tools and machines 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.

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.