Market Insights Consumer DIY & Hardware Store

Tools & Machines - Croatia

Croatia

In 2024, the revenue in the Tools & Machines market in Croatia amounts to €57.12m.
It is anticipated that the market will experience an annual growth rate of 2.86% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market segment, reaching €72bn in 2024.
In terms of per capita revenue, each person in Croatia generates €14.33 in 2024.
Croatia's growing tourism industry has led to an increased demand for tools and machines used in construction and maintenance of hotels and resorts.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Croatian DIY & Hardware Store market has seen minimal growth due to various factors including lack of consumer awareness, limited adoption of digital tools, and convenience offered by traditional brick and mortar stores.

Customer preferences: Consumers in Croatia have shown a growing interest in environmentally-friendly and sustainable tools and machines within the DIY & Hardware Store Market. This trend is supported by the country's strong focus on eco-friendly practices and a growing awareness of the impact of consumerism on the environment. Additionally, with a rise in DIY projects and home renovations, consumers are also seeking tools and machines that are easy to use and require minimal maintenance, aligning with the shift towards more efficient and convenient lifestyles.

Trends in the market: In Croatia, the Tools & Machines Market within the DIY & Hardware Store Market is experiencing a shift towards eco-friendly products, with a rise in demand for energy-efficient tools and machines. This trend is driven by consumers' growing awareness of environmental issues and their desire to reduce their carbon footprint. Additionally, there is a growing trend of using online platforms to purchase tools and machines, as well as access expert advice and product reviews. These developments are significant as they reflect the increasing importance of sustainability and convenience in the market. Industry stakeholders should prioritize offering eco-friendly options and investing in digital platforms to remain competitive.

Local special circumstances: In Croatia, the Tools & Machines Market within the DIY & Hardware Store Market is influenced by the country's strong DIY culture and preference for high-quality, durable tools. Additionally, strict EU regulations on product safety and standardization impact market trends and consumer preferences. The market also faces challenges due to Croatia's mountainous terrain, which poses logistical obstacles for suppliers and retailers. Furthermore, the country's growing tourism industry has resulted in increased demand for tools and equipment in the hospitality sector, creating a unique market dynamic compared to other countries.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Croatia is influenced by macroeconomic factors such as the overall economic conditions of the country, including GDP growth, unemployment rates, and consumer spending patterns. The market is also impacted by global economic trends, such as trade policies and international demand for tools and machines. Fiscal policies, such as tax rates and government spending, can also have a significant impact on market performance. Furthermore, the availability of credit and financing options for consumers and businesses can affect the overall demand 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.