New York, US, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Gardening Tools Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Gardening Tools Market Research Report: Information by Product, Tool Holder, End-Use, Distribution Channel, and Region—Forecast till 2027, Gardening tools market size is projected to reach 112.09 Billion by 2027 at a CAGR of 4.51% from 2020 to 2027.
Market Scope:
Hand tools and power tools are distinct types of garden tools. Common gardening tools include lawnmowers, grass and grounds equipment, trimmers and edgers, shears, pruners, hammers, spades, and weeders. The increasing adoption of gardening tools and equipment for domestic and commercial purposes drives market growth for gardening tools. Gardening or lawn maintenance is a favorite pastime for the elderly, which is bolstering household demand for gardening gear.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 112.09 Billion |
| CAGR | 4.51% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Product, Tool Holder, End-Use, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing Trend Of Gardening Activities |
| Rising Demand For Technologically Advanced Gardening Tools |
Competitive Dynamics:
The prominent players of the market are:
- Fiskars Group (Finland),
- Husqvarna AB (Sweden),
- Falcon Garden Tools Pvt Ltd. (India),
- Ribe Energy Machinery SL (Spain),
- ILAGA Supplies (Spain),
- Stanley Black & Decker, Inc. (US),
- Ingersoll Tillage Group, Inc. (Canada),
- Bully Tools, Inc. (US),
- Zenport Industries (US),
- Griffon Corporation Inc. (US)
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Market USP:
Market Drivers
The global market for gardening tools has had substantial growth over the past few years and is predicted to increase at a CAGR of 4.51% during the forecast period. The increasing popularity of gardening activities and the expansion of the real estate business are two of the most important reasons driving the expansion of the market. In addition, the increased demand for technologically improved gardening equipment contributes to the expansion of the market for gardening tools. In the coming years, the industry will be able to expand due to initiatives including urban green areas and green infrastructure.
Additionally, an increase in real estate developments has occurred in all economies due to an increase in disposable income and a drop in property prices. This trend is likely to increase demand for gardening equipment over the forecasted time frame. The trend among millennials to transform outdoor areas into lounges, entertainment areas, outdoor kitchens, and party locations is also anticipated to contribute to market expansion. As a result of expanding single-family construction investment and a growing interest in Do-It-Yourself (DIY) initiatives, the industry is anticipated to perform well. Due to the growing popularity of do-it-yourself projects, manufacturers of garden equipment are creating an affordable and user-friendly product range for domestic usage.
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Market Limitations
However, the significant upkeep involved with gardening tools is inhibiting industry expansion. On the other hand, power tools are more expensive than hand tools due to the materials utilized and the product's enhanced functionality. This makes the product's maintenance costs even greater than those of hand tools. Due to the technological nature of the power tools, the potential of harm is also substantial if they are not routinely serviced. Moreover, the damage of any spare parts may increase the cost of fixing the product. Thus, the high maintenance costs associated with gardening tools significantly limit market expansion.
COVID-19 Analysis:
The COVID-19 epidemic has negatively impacted and will likely continue to pose threats to the gardening tools industry. There are various dangers associated with the COVID-19 pandemic epidemic. COVID-19 spread around the world in 2020 and continues to influence global economic activities. The COVID-19 virus caused disruption and volatility in the global finance markets and contributed to a 2020 economic downturn. The COVID-19 epidemic and accompanying economic unpredictability had a detrimental influence on the gardening tools business in the majority of geographies and across a wide range of clients. Regarding COVID-19, governments around the world have enacted measures such as travel restrictions, business closures, bans on group events and meetings, shelter-in-place orders, curfews, and suggestions to practice social distancing. These restrictions have led to a decline in economic activity and the temporary closing of manufacturing operations.
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Market Segmentation:
By Product Type
The segment of lawn mowers held the largest market share in 2019, while the sector of pruning tools is anticipated to achieve the highest CAGR of 4.27 % during the projected period.
By Tool Holder
In 2019, the engine tools segment held a greater market share and is anticipated to grow at a higher CAGR of 4.06% over the forecast period.
By End Use
In terms of value, the commercial sector held a greater market share in 2019 and is anticipated to have the greatest CAGR over the forecast period, at 4.06%.
By Distribution Method
In 2019, the store-based category held a bigger market share of 62.32 %, while the non-store-based sector is anticipated to grow at a faster rate of 4.19 % over the forecast period.
Regional Analysis:
In 2019, North America held the greatest market share of 44.58% in the gardening tools industry. During the projection period, the regional market is expected to grow at a CAGR of 4.10 percent. With the increasing demand for landscaping equipment, North America holds the largest market share. Industry participants are acquiring products to expand their offering. Briggs & Stratton, for instance, announced the acquisition of Hurricane, Inc., a maker of leaf blowers, in order to advance its gardening equipment for commercial use. In addition, the rising standard of living and improved lifestyle of Canada's metropolitan residents are among the elements compelling corporate offices to make decisions regarding the landscaping of their open spaces. Therefore, the majority of real estate businesses invest in enhancing the property's surrounds and growing the surrounding landscaping. As a result, an increasing number of hotels are incorporating landscaping within and around their structures. Therefore, political shifts, regional and demographic appropriateness, and the deployment of cutting-edge technologies are anticipated to drive the North American gardening equipment market.
Europe held a 24.17 percent share of the global gardening tools market in 2019 and is predicted to grow at a CAGR of 4.02% during the forecast period. Europe's increased community involvement in the installation of green areas and landscaping expenditures represents a substantial contribution. Increased emphasis on product development and R&D by industry participants to obtain market share will foster market growth. In Germany, Terra announced the release of a robotic lawnmower equipped with intelligent mapping technology and the ability to automatically recharge its battery when it is low. Increasing interest in gardening and horticultural enterprises is also driving equipment sales in this area. In addition, the average UK home spends over $200 on gardening services, a figure that has climbed in recent years. In addition, technological advancements, rising disposable income in the region, and an elderly population that spends more time in gardens will cause gardening equipment sales to soar during the review period.
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