Lawn & Garden Equipment Market to exceed $50 Bn by 2027
Published Date: June 28, 2021 Authors: Kiran Pulidindi, Hemant Pandey
Lawn & Garden Equipment Market size is estimated to surpass USD 50 billion by 2027, according to a new research report by Global Market Insights, Inc.
Increasing preference for new garden and lawn equipment in Asia Pacific is driving industry players to expand their production facilities. Political stability, low labor costs, increasing international trade, and rising urbanization are supporting industry growth. Competitive manufacturing costs, strong supply chains, and transport links will enhance investments in equipment manufacturing and boost product consumption.
The increased consumer spending in countries including China, India, Japan, and Australia will accentuate the lawn & garden equipment market growth. Companies focus on implementing new strategies to provide customers with enhanced products along with after-sales services that will stimulate the industry expansion. Proliferating small family households along with the growing middle-class population in Asia Pacific will significantly escalate product share. The rising inclination of consumers toward outdoor activities will spur volume growth.
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Additionally, manufacturers are involved in the development of new products including battery-powered equipment that will propel product penetration over the study timeframe. High noise and vibration associated with the product coupled with increased pollution levels might hinder product application in the coming years.
Browse key industry insights spread across 380 pages with 555 market data tables & 14 figures & charts from the report, “Lawn & Garden Equipment Market Size By Power (Manual, Electric-powered, Gas-powered), By End-use (Residential, Golf Courses, Playgrounds), By Operation (Walk-behind, Rider), By Product (Blowers, Chain Saws, Cutters & Shredders, Tractors, Lawn Mowers, Sprinkler & Hoses), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The lawn & garden equipment market from electric-powered is set to witness around 8% CAGR through 2027. One of the contributing factors supporting the increased demand for electric-powered lawn and garden care equipment is cost-effectiveness. Electrically operated equipment, such as mowers, blowers, and cutters, tend to have fewer moving parts than their fossil fuel operated counterparts, eliminating the need for any regular servicing and fuel mixing hassle.
Apart from the reduction in emissions, noise pollution portability is another factor contributing to the surge in demand. The advancements in lithium-ion battery technology have enabled industry players to offer portable cordless solutions for a wide variety of garden equipment. Industry participants are exploring the mechanical advantages presented by electric-powered tools and are constantly investing in developing these products.
Increasing golf participants to escalate segment growth
Golf courses accounted for more than 25% share in the lawn & garden equipment market by 2027. The increasing number of golf participants across the globe has resulted in the construction of new and expansion of existing golf courses. This expansion is in line with increased participation, driving the demand for lawn & garden care equipment.
The riders segment is anticipated to observe significant growth during 2021 to 2027. The demand for ride-on mowers is experiencing significant growth owing to convenience. It is motor-propelled and does not require any supplementary effort, unlike the walk-behind variant, making it a preferable choice for extended operations. Ride-on mowers feature a bigger motor, significantly increasing ride speed. Large residences, golf courses, playgrounds, and commercial campuses are major contributing factors to the rising demand for ride-on mowers. The advancements in technology are propelling the factors supporting product demand.
Rising landscaping activities across the globe to drive lawn mowers demand
Lawn mowers market generated over USD 13 million in 2020. Increasing landscaping and groundskeeping activities for beautification in residential & commercial spaces have been the primary driving forces of lawn mowers. Steady advancements in powertrain technology coupled with an increase in affordability have further promoted the demand for lawn mowers.
Europe is poised to account for more than 20% of the lawn & garden equipment market share by 2027. Europe contributes a significant share with proliferating community engagement in the implementation of green spaces and landscaping expenditure. Rising focus on R&D for new product development to gain market share will support market expansion.
Prominent manufacturers in the lawn & garden equipment market are Deere & Company, Briggs & Stratton Corporation; Husqvarna Group, Robert Bosch GmbH, Ariens Company, Falcon Garden Tools; Honda Motor Co., Ltd., Fiskars Group, The Toro Company, STIGA S.p.A., Kubota Corporation, Koki Holdings Co., Ltd., Stihl Holding AG & Co., KG., Makita Corporation, Stanley Black & Decker, Techtronic Industries Co., Ltd. (TTI), and MTD Holdings Inc.
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