Results Of The Russian Tool Market In 2024

Let's take a closer look at what 2024 was like for different segments of the tool market

The Russian tool market is diverse and covers a wide range of industries. Read more about how the situation developed in different market sectors in 2024 in our article.

Power tool market

The range of the power tool market is diverse, and the total volume of the Russian power tool market by the end of 2023 amounted to almost 24 million units, which is 35% more than the 2022 figure. The departure or suspension of activities of well-known foreign brands has brought a number of opportunities for Russian and Asian manufacturers.

Experts note the leading role of Chinese brands, which have long been increasing their share of the Russian market due to the optimal price-quality ratio.

The market for power tools under private labels of various brands and marketplaces is also growing. At the same time, interest in battery-powered tools, which provide greater mobility and ease of use, continues to grow. Experts also note that consumers make more than a third of their power tool purchases in online stores.

Hand tool market

The production of hand tools in Russia in 2023 increased by 64.1%, reaching 61.8 million units — such data is provided by the analytical company BusinesStat. The production of this category of tools in Russia mainly depends on the demand for products of Russian manufacturers and the availability of a wide range of imported analogues on the market.

The fast pace of the construction industry and the popularity of DIY projects support the demand for hand tools. Manufacturers use new materials and technologies that improve the quality and durability of tools: lightweight and durable alloys, as well as ergonomic design, make tools more convenient to use.

Construction tool market

Traditionally, the construction tool sector includes 2 subgroups: power tools and hand tools, which were mentioned earlier. It should be noted that the active development of the construction complex of both housing and civil infrastructure allows maintaining demand for construction tools, due to which the market remains quite competitive, and the number of participants is constantly growing.

Garden tool market

According to the RATPE forecast, the Russian market for garden equipment in 2023 was estimated at 9 million units, which is 25% more than in 2022. In the battery-powered equipment segment, experts note an increase in demand: in 2023, this segment took 24% compared to 2% in 2017. According to the results of 2023, experts highlight chain saws, trimmers, washers, sprayers and lawn mowers among the leading positions.

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