The Global Gardening Equipment Market to Reflect Tremendous Growth Potential With A CAGR Of 6.1% BY 2028
The market for global gardening equipment was valued at USD 85.25 Billion in 2018. It is projected to grow at a 6.1% compound annual growth rate (CAGR) between 2019 and 2028.
This market growth can be attributed to the increasing demand for ergonomic gardening and lawn maintenance tools. The rising disposable income and lower 2018 home prices have increased real-estate projects in all regions. Market millennials are increasingly interested in transforming outdoor spaces into relaxation areas such as lounges, entertainment, or outdoor kitchens.
The market is expected to grow with the popularity of battery-powered ergonomic designing tools. Gardening is labor intensive and requires digging, cutting, and weeding small shrubs. Repeated stress injuries may result. The strain and pain caused by garden tools can be severe for older people’s hips, back, knees and wrists. Professionals and amateurs alike need ergonomic design tools. This market is expected to grow during the forecast period.
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Driving Factors:
To Nurture Market Growth, Gardening Equipment is Accepted
The popularity of electric-powered lawnmowers, trimmers, and chainsaws is driving greater demand for gardening equipment. Electric equipment is a priority in the United States and Britain due to noise and environmental issues. Electric lawnmowers are less heavy and quieter. The push-to-start button is easier to use, which gives them an advantage over other models. This is driving an increase in demand for electrical equipment.
Restraining Factors:
High maintenance costs hinder Market Growth
This equipment can be used in many residential, public, and private golf courses and playgrounds. This equipment is used almost every day. The inability to service or delay lawn mowers, cutters, and other equipment can increase downtime and slow down the lawn-cutting process. Multiple sources confirm that this equipment is repairable for as low as USD 85. This leads to a decrease in its use. Growing demand is also being expressed for hybrid power equipment. This is a more expensive manufacturing process. This equipment is not easily produced by small or medium-sized businesses, which can hinder the global market growth.
Market Key Trends:
Automated gardening equipment is on the rise
Future trends will likely increase demand for well-designed, modern garden equipment. The availability of new products is improving market prospects. COVID-19 was an essential factor in the market’s expansion. Customers are spending more time in local areas. This is driving product demand. The increased use of intelligent gardening methods like GPS technology, uniform cutting, and an auto brake system is having positive effects on the global lawn and garden market. Smart gardening is a way for gardeners to be more productive and more accessible.
Recent development:
- AriensCo’s equipment range of petrol- and lithium-powered zero-turn mowers were displayed at SALTEX 2021. Ariens also showed the ‘ZENITHE’ conceptual stand-on mower powered by a lithium battery and low in noise and emissions.
- American Honda Motor Co., Inc. released the HRN series of residential lawnmowers in October 2019. It features a powerful GCV170-powered motor that optimizes grass cutting while streamlining maintenance and operation.
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Key Companies:
Honda Power Equipment
Bosch Power Tools
Kubota
Husqvarna Group
Toro
MTD Products and Ariens Company
Segmentation:
Type
Hand Tools
Lawnmowers
Trimmers & Edgers
Water management equipment
Application
Residential Market
Commercial/Government Market
Key questions:
- What has been the performance of the global market in garden equipment? What are its prospects for the future?
- What was the global effect of COVID-19 on the global market for garden equipment?
- What are the most important regional markets for your product?
- What is the market’s impact on the product?
- What does this all mean for the market being restructured according to the end-user?
- What are the key driving factors?
- What is the global marketplace for gardening equipment? And who are its top players?
- What level of competition is there in the industry?
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