Market Insights Consumer DIY & Hardware Store

Tools & Machines - Switzerland

Switzerland

In Switzerland, the Tools & Machines market is projected to generate revenue amounting to €0.73bn in 2024.
It is anticipated that the market will experience an annual growth rate of 3.09% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market segment, reaching €72bn in 2024.
Taking into account the total population figures, per person revenues of €81.93 are expected to be generated in Switzerland in 2024.
Switzerland's reputation for precision engineering is reflected in the tools and machines market, where Swiss-made products are highly sought after for their exceptional quality and craftsmanship.

Key regions: India, Worldwide, Germany, Japan, Brazil

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The DIY & Hardware Store Market in Switzerland has seen slow growth, influenced by factors such as the high cost of tools and machines and the preference for traditional manual labor in DIY projects. Despite this, the market is expected to see some growth in the coming years as more consumers turn to online channels for their hardware needs, driven by the convenience and ease of use offered by digital platforms.

Customer preferences: With the rise of sustainability and eco-consciousness, consumers in Switzerland are increasingly gravitating towards environmentally friendly tools and machines for their DIY projects. This trend is also fueled by a growing interest in upcycling and repurposing materials, as well as a desire for durability and quality. As a result, DIY and hardware stores are now offering a wider selection of eco-friendly and long-lasting tools, catering to the changing consumer preferences.

Trends in the market: In Switzerland, the Tools & Machines Market within the DIY & Hardware Store Market is experiencing a surge in demand for eco-friendly and sustainable products. With consumers becoming more environmentally conscious, there has been an increase in the use of green materials and energy-efficient tools and machines. This trend is expected to continue, driven by government initiatives promoting sustainable practices and the growing preference for sustainable products among consumers. This shift towards eco-friendliness presents both challenges and opportunities for industry stakeholders, who must adapt to meet changing consumer demands while also incorporating sustainable practices in their operations. Additionally, advancements in technology have led to the development of smarter and more efficient tools and machines, further driving the growth of this market.

Local special circumstances: In Switzerland, the Tools & Machines Market within the DIY & Hardware Store Market is heavily influenced by the country's strong commitment to sustainability and environmentally-friendly practices. As a result, there is a high demand for energy-efficient tools and machines, and many companies have implemented green initiatives in their production processes. Additionally, Switzerland's strict regulations on product safety also play a significant role in shaping the market, as consumers prioritize quality and reliability in their purchases. Furthermore, the country's well-developed infrastructure and high level of technological advancement have paved the way for the adoption of advanced tools and machines, driving market growth.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Switzerland is affected by macroeconomic factors such as the country's stable economic health and favorable fiscal policies. The global trend towards DIY and home improvement has also contributed to the growth of this market in Switzerland. In addition, the country's strong investment in infrastructure and technological advancements has led to the development of innovative tools and machines, increasing demand and driving market growth. Moreover, the rising aging population in Switzerland has resulted in a higher demand for home renovation and repair services, further boosting the market for tools and machines in the DIY & Hardware Store Market.

Methodology

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.