Tools & Machines - Oman | Statista Market Forecast

In 2024, the Tools & Machines market in Oman is expected to generate a revenue of US$154.60m.
This market segment is projected to grow annually by 3.08% (CAGR 2024-2029).
When compared globally, China leads the market with a revenue of US$78bn in 2024.
On a per person basis, the revenue generated in Oman amounts to US$32.81.
The demand for high-quality power tools and machinery in Oman is steadily increasing due to the country's booming construction and infrastructure 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 Oman is witnessing minimal growth due to factors like limited availability of advanced tools and machines, low consumer awareness, and reluctance to adopt digitalization. Despite this, online services and convenience are propelling market expansion.

Customer preferences: As more individuals are taking on DIY projects in Oman, there has been a noticeable shift towards the purchase of advanced tools and machines. This trend can be attributed to the increasing focus on efficiency and precision, as well as the growing popularity of home renovation and improvement projects. Furthermore, with the rising demand for environmentally-friendly solutions, there has been a surge in the sale of energy-efficient tools and machines, highlighting a shift towards eco-conscious consumer preferences.

Trends in the market: In Oman, the Tools & Machines Market within the DIY & Hardware Store Market is experiencing a similar trend towards digitization. Online platforms for purchasing tools and machines have emerged, offering a wider range of products and competitive pricing. This trend is significant for both consumers, who now have more options for purchasing and comparing prices, and industry stakeholders, who must adapt to a more competitive market. Additionally, the rise in e-commerce for tools and machines has implications for the traditional brick-and-mortar stores, potentially leading to a shift in the industry landscape.

Local special circumstances: In Oman, the Tools & Machines Market within the DIY & Hardware Store Market is influenced by the country's strong oil and gas industry. The market is expected to grow due to the government's investment in infrastructure projects and the rise in residential construction. Oman's unique geography, with a large coastline and mountainous terrain, also drives demand for specialized tools and machines. Additionally, the country's cultural preference for DIY projects and handiwork further supports the growth of the market.

Underlying macroeconomic factors: The performance of the Tools & Machines Market within the DIY & Hardware Store Market in Oman is significantly influenced by macroeconomic factors such as economic stability, government policies, and market trends. The country's strong economic growth and stable political environment have boosted consumer spending, leading to an increase in demand for DIY and hardware products. Additionally, the government's initiatives to promote small and medium-sized enterprises and developments in the construction and real estate sectors are driving the demand for tools and machines in the market. Furthermore, the rise in household incomes and the growing popularity of DIY projects are also contributing to the market's growth.

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.