Tools & Machines - Greece | Statista Market Forecast

In Greece, the Tools & Machines market generates a revenue of US$109.10m in 2024.
It is projected to experience an annual growth rate of 0.58% (CAGR 2024-2029).
When compared globally, China generates the highest revenue in this market segment, with a total of US$78bn in 2024.
In terms of per person revenues, in Greece generates US$10.59 units of revenue per individual in 2024.
Despite economic challenges, Greece continues to demonstrate a strong demand for innovative tools and machines in various industries.

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 DIY & Hardware Store Market in Greece has been facing a negligible decline in growth rate, attributed to factors like fluctuating consumer demand, increasing competition, and economic instability. Despite this, the tools & machines market remains a key contributor to the overall industry.

Customer preferences: As the DIY and hardware store market in Greece continues to grow, there has been a noticeable increase in consumer preferences for high-quality, durable tools and machines. This trend is largely driven by the country's cultural emphasis on self-reliance and self-sufficiency, as well as an aging population that values investments in long-lasting products. Additionally, with a growing focus on sustainable living, consumers are increasingly opting for eco-friendly and energy-efficient tools and machines, driving growth in this segment. This shift can also be attributed to the growing popularity of DIY projects and home improvement among younger demographics, who are seeking cost-effective solutions and personal satisfaction through hands-on activities.

Trends in the market: In Greece, the DIY & Hardware Store Market is experiencing a rise in the adoption of online tools and machines purchasing. With the increasing use of e-commerce platforms, consumers are now able to compare prices and shop for a wider variety of products, leading to a more competitive market. This trend is likely to continue, as online shopping becomes more prevalent, creating opportunities for both retailers and manufacturers to expand their reach and increase sales. Furthermore, with the rise of DIY culture and an increasing interest in home improvement, the demand for innovative and efficient tools and machines is on the rise, leading to a growing market for advanced and user-friendly products. This presents opportunities for industry stakeholders, such as retailers and manufacturers, to tap into this burgeoning market and cater to the evolving needs and preferences of consumers. R&D investments in technology and customer-centric product development will be crucial in staying competitive and meeting the growing demand for tools and machines in the DIY & Hardware Store Market in Greece.

Local special circumstances: In Greece, the Tools & Machines Market within the DIY & Hardware Store Market is heavily influenced by the country's economic crisis, as consumers prioritize cost-effective solutions. This has led to a rise in DIY projects and a demand for affordable tools and machines. Additionally, geographical factors such as the country's mountainous terrain have led to a preference for portable and compact tools. Cultural factors, such as a strong DIY culture and a focus on self-sufficiency, also play a role in driving the market. Regulatory factors, such as the recent implementation of building codes and safety regulations, have also impacted the types of tools and machines available in the market.

Underlying macroeconomic factors: The growth of the Tools & Machines Market within the DIY & Hardware Store Market in Greece is heavily impacted by macroeconomic factors such as the overall health of the national economy, government fiscal policies, and global economic trends. For instance, a robust economy and favorable fiscal policies can drive consumer spending and increase demand for tools and machines in the DIY & Hardware Store Market. On the other hand, a sluggish economy and restrictive policies can lead to lower consumer confidence and slow down market growth. Additionally, Greece's membership in the European Union and its ties to global trade can also influence market performance.

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.