Tools & Machines - Lebanon | Statista Market Forecast

In Lebanon, the Tools & Machines market generates revenue amounting to US$111.70m in 2024.
It is projected to experience an annual growth rate of 1.19% (CAGR 2024-2029).
Comparing it globally, China generates the highest revenue of US$78bn in 2024.
In terms of per person revenues, in Lebanon generates US$21.39 in 2024.
Lebanon's Tools & Machines market is thriving with a growing demand for high-quality construction equipment due to the country's ongoing infrastructure development projects.

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 Lebanon is witnessing a stagnant growth, due to limited technological advancements and low consumer awareness. Online sales are impacted by the lack of trust in online transactions and the preference for in-person shopping experiences.

Customer preferences: With DIY and home improvement becoming increasingly popular activities, consumers in Lebanon are showing a growing preference for high-quality, durable tools and machines. This is driven by a cultural emphasis on resourcefulness and self-reliance. Additionally, as more women enter the DIY market, there is a demand for smaller, lighter tools designed for smaller hands. This trend is also influenced by a growing interest in sustainability, with eco-friendly and energy-efficient tools becoming more popular. As more millennials and Gen Z enter the market, there is also a demand for technologically advanced tools and machines that can be controlled remotely through apps or smart devices.

Trends in the market: In Lebanon, the Tools & Machines Market within the DIY & Hardware Store Market is seeing a rise in online sales and delivery services to cater to changing consumer preferences. This trend has been accelerated by the COVID-19 pandemic, as more people are opting to purchase tools and machines online for convenience and safety. This shift in consumer behavior has also led to an increase in e-commerce platforms and digital marketing strategies by industry players. It is expected that this trend will continue to grow, presenting opportunities for stakeholders to expand their online presence and tap into the growing demand for digital solutions in the market.

Local special circumstances: In Lebanon, the Tools & Machines Market within the DIY & Hardware Store Market is influenced by the country's unique geographical position as a gateway between Europe and the Middle East. This has led to a diverse customer base with varying preferences and demands, as well as a thriving export market. Additionally, the country's strict import regulations and high tariffs on certain products have encouraged the growth of local manufacturing, creating a competitive market for tools and machines. The cultural emphasis on DIY projects and home improvement has also fueled the popularity of hardware stores, making Lebanon a promising market for the Tools & Machines Market within the DIY & Hardware Store Market.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Lebanon is heavily influenced by macroeconomic factors such as overall economic stability, government policies, and consumer spending. The country's current economic conditions, including low GDP growth, high unemployment rates, and high inflation, have resulted in reduced consumer spending and lower demand for tools and machines. However, the ongoing reconstruction and development projects, as well as the rise in DIY home renovations, are expected to drive the demand for tools and machines in the coming years. Additionally, the country's tax policies and trade agreements can also impact the market performance, given the reliance on imported tools and machines in Lebanon.

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.