New York, US, May 17, 2022 (GLOBE NEWSWIRE) -- Gardening Tools Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Gardening Tools Market Information by Type, Product, End Use, Distribution Channel, and Region - Forecast till 2027”, the market is estimated to acquire a size of over USD 112.09 Billion by the end of 2027. The report further predicts the market to thrive at a healthy CAGR of over 4.51% during the review timeframe.
Market Synopsis
The gardening products business is quite appealing, and it is an established market with consistent growth. Over the forecast period, the lawnmowers product segment is expected to be the largest and fastest growing. This can be attributed to the extensive usage of lawnmowers in backyards, city parks, and athletic fields for grass and garden upkeep. Electric spades and pruners, hedge trimmers, and other fuel or electricity-powered gardening tools improve efficiency. Gardening equipment sales are predicted to increase gradually over the forecast period, owing to the rise of outside activities such as sports, landscaping, and recreational activities.
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Market Competitive Landscape:
The distinguished contenders in the gardening tools market are:
- Zenport Industries (US)
- Bully Tools, Inc. (US)
- Corporacion Patricio Echeverria, S.A. (Spain)
- Ray Padula Holdings, LLC (US)
- Garden Tool Company (UK)
- Stanley Black & Decker, Inc. (US)
- Fiskars Group (Finland)
- Husqvarna AB (Sweden)
- Griffon Corporation (US)
- Andreas Stihl AG & Co. KG (Germany)
- CobraHead LLC (US)
- Lasher Tools (South Africa)
- American Lawn Mower Co (US)
- Root Assassin LLC (US)
Market USP Covered:
Market Drivers:
In terms of current market trends for gardening equipment, such tools and items are in great demand throughout the commercial sector. Residential demand for low-cost products is strong, indicating significant growth potential for the industry. However, heavy equipment is required for use in commercial areas. As a result, the retail sector will generate more revenue than the residential sector, according to the gardening tools market estimate. As a result, the major companies implement adequate procedures to meet the massive demand with abundant supply. The best business opportunity in the gardening tools market is the abundance of items for various purposes. As a result, the global market is thriving. Meeting expanding demand is a top goal, and the market is expected to generate more revenue by the end of the current projection years.
Market Restraints:
Several advanced gardening power tools are relatively expensive, so these prices are pushing the instruments to be rejected by the medium-sized commercial sectors. As a result, the critical revenue-generating industry is falling short of its potential. As a result, the major companies plan to decrease costs by removing needless specifications from modern equipment. The exorbitant cost of various hand tools prevents the average homeowner from purchasing them. It is currently one of the market's most significant challenges. However, the influential players are implementing practical strategies to reduce the manufacturing costs of some of the more expensive hand and power equipment to boost sales.
COVID 19 Analysis
In the middle of 2020, COVID-19 slowed the expansion of the gardening tools market. The epidemic prompted the production plant to close, causing the supply rate to slow. The necessity for house gardening was high because most homeowners were confined to their homes. However, the supply was insufficient to fulfill the demand. In the COVID situation in the gardening tools market, commercial needs were comparably low. The offices were shut up, and the private and public gardens were maintained with existing tools and no extra purchases. As the COVID problem is under control, everything is returning to normal.
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Market Segmentation
By Type
Power tools are the fastest-growing market segment. Hand tools, such as pruners, weeders, shovels, axes, and other equipment, are necessary for maintaining tiny gardens. People regard gardening as a recreational activity, which has fueled the growth of the gardening tool market.
By Product
Various items serve different purposes, but lawnmower sales represent the majority of revenue. They are large power equipment that is used for gardening in larger areas. It is generally utilized to keep the green spaces around public and private buildings in good shape.
By End Users
Commercial gardening equipment is in high demand since it is employed on large-scale properties with public or private gardens. For this, large lawnmowers and other similar tools are used. In any case, the demand for garden tools is high.
By Distribution Channel
Customers can inspect specifications in person at store-based stores before deciding on the best equipment for their needs. Customers who favor store-based channels are in the majority. However, the bulk of the audience wanted to purchase gardening supplies outside of stores.
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Regional Insights
North America was the leading region, accounting for most of the gardening tool market. North America and East Asia are likely to be the most lucrative markets for selling gardening tools and equipment due to significant spending on gardening hobbies and a well-established DIY trend in these regions. North America is home to some of the most well-known outdoor electric gardening tool manufacturers. Key regional market players have also created comprehensive product lines, including lithium-ion battery-powered and hybrid gardening equipment. The European Union's proposed massive efforts to boost gardening tool sales will also benefit the global industry. Due to the high growth rate of demand and supply in the region, Asia-Pacific is also a high-projected revenue-earning region. The need for the maintenance of vegetation and garden areas is a successful application area for the development of gardening tools market revenue in the present forecast years, among other parts of the world.
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