Tools & Machines - Mozambique | Statista Market Forecast

In Mozambique, the Tools & Machines market is projected to generate a revenue of US$397.50m in 2024.
It is anticipated that this market segment will experience an annual growth rate of 3.42% (CAGR 2024-2029).
Comparatively, China leads the global market, generating a revenue of US$78bn in 2024.
In terms of per capita income, the revenue per person in Mozambique's Tools & Machines market is estimated to be US$11.40 in 2024.
Mozambique's Tools & Machines market is experiencing a surge in demand for agricultural equipment due to the country's emphasis on increasing food production.

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 Mozambique has seen negligible growth, impacted by factors such as limited access to tools & machines and low consumer purchasing power.

Customer preferences: Consumers in Mozambique are increasingly embracing electric and cordless power tools, driven by a growing DIY culture and rising demand for convenience. Additionally, there is a growing preference for compact and lightweight tools, reflecting a shift towards smaller living spaces and a focus on portability. This trend is also fueled by a rising interest in home renovation and decoration projects, as well as a desire for cost-effective and time-saving solutions.

Trends in the market: In Mozambique, the Tools & Machines Market within the DIY & Hardware Store Market is seeing an increase in demand for affordable and efficient machines, such as power tools and lawn mowers. This trend is driven by the growing middle class and urbanization, which increases the need for home improvement and maintenance. Additionally, there is a shift towards environmentally friendly and energy-saving tools, as consumers become more conscious of sustainable practices. These trends are significant as they reflect a growing DIY culture and present opportunities for industry stakeholders to tap into new markets. However, the challenge for companies will be to balance affordability and quality while meeting the changing preferences of consumers.

Local special circumstances: In Mozambique, the Tools & Machines Market within the DIY & Hardware Store Market is driven by the country's rapid urbanization and growing construction industry. The market is also influenced by the country's warm climate and the high demand for durable and weather-resistant building materials and equipment. Additionally, Mozambique's government policies and regulations promoting infrastructure development have further boosted the growth of the market.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Mozambique is affected by macroeconomic factors such as government policies, economic growth, and investment in infrastructure. Mozambique is currently experiencing significant economic growth, driven by increased investments in the construction sector. This has led to a rise in demand for tools and machines in the DIY & Hardware Store Market. Additionally, the government's focus on infrastructure development and increasing household income are expected to contribute to the growth of this market. However, challenges such as limited access to credit and lack of skilled labor may hinder the market's growth in the country.

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.