Pune, India, Dec. 20, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Lawn & Garden Equipment Market size was valued at USD 29.58 billion in 2020. The market is anticipated to grow from USD 31.52 billion in 2021 to USD 50.85 billion by 2028, exhibiting a CAGR of 7.1% over the estimated period. As per our analysts, the progressions in social lifestyle, growing rich population, and embracing gardening as a mode of relaxation are predicted to surge product demand, thereby bolstering the global market growth. Fortune Business Insights™ provides this information in its research report, titled “Lawn & Garden Equipment Market, Forecast 2021-2028”.
Industry Development:
December 2021: Stanley Black & Decker, Inc. entirely procured MTD Products Inc. to fortify its equipment portfolio in the outdoor power equipment industry. This attainment balances the company’s sturdy brand existence across regions.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 7.1% |
| 2028 Value Projection | 50.85 billion |
| Base Year | 2020 |
| Lawn & Garden Equipment Market Size in 2020 | 29.58 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 140 |
| Segments covered | By Equipment Type, By Power, By End-use and By Region |
COVID-19 Impact:
Work from Home Adoption Fostered Lawn & Garden Equipment Sales amid Pandemic
The World Health Organization (WHO) in March 2020 announced COVID-19 as a pandemic. Consequently, the majority of the countries observed unexpected shutdown of the fiscal activities accredited to social distancing norms, lockdown guidelines, and negative approach toward the market. Nevertheless, the pandemic has mildly impacted the global lawn & garden equipment market.
Report Coverage:
- It assimilates key market drivers and restraints.
- It profiles the rankings of key market players accordingly.
- It includes key market developments and information on different market segments.
- It provides a comprehensive market assessment.
- It assesses the COVID-19 pandemic’s impact on the market.
Drivers and Restraints:
Adoption of Electric Lawn & Garden Equipment to Nurture Market Growth
The constantly rising thrust for electric-powered lawn mowers, trimmers, chainsaws, and other equipment is projected to observe an increasing demand for gardening equipment across the world. In regard to noise and environmental concerns, the U.S., the U.K., Germany, Japan, India, Australia, and others are hugely concentrating on presenting electric equipment. Electric lawnmowers specifically are lesser in weight, quieter, and their push-to-start button gain an advantage over others. Consequently, it is surging the demand for electric equipment.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/lawn-garden-equipment-market-106385
Lawn & Garden Equipment Market Segmentation Analysis:
Residential Segment to Dominate Backed by Growing Landscaping Services and Consumer Spending Power
By equipment type, the market is classified into lawnmower, chainsaws, cutters and shredders, trimmers and edgers, and others.
In terms of power, the global market is categorized into manual, electric, and gas.
Based on end-use, the market is segregated is into residential, playgrounds, and golf courses. Residential segment is dominating with highest CAGR attributed to the growing demand for landscaping services in established economies and growing residential construction activities in developing economies.
Geographically, the market is branched into five regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Regional Insights:
North America to Dominate Backed by Presence of Leading Companies
North America is leading the market and held the largest lawn & garden equipment market share, backed by the sturdy existence of various leading market-based companies.
Asia Pacific is in the supreme position to seize the highest growth rate during the forecast period. It is predominantly owing to rising commercial & residential construction activities by the real estate owners.
The surging demand for electric lawn mowers is motivating the Europe market growth. Additionally, the enhancing adoption of green landscaping services is boosting the lawn & garden equipment market growth.
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Competitive Landscape:
Procurements Initiated by Pivotal Companies to Endorse Market Growth
The fundamental players in the market incessantly choose operative tactics to bolster their brand value as well as endorse the global market growth. One such operative strategy is procuring competitive companies and further safeguarding a profit for both the companies.
A List of Key Manufacturers Operating in the Global Market:
- Deere & Company (U.S.)
- Husqvarna Group (Sweden)
- The Toro Company (U.S.)
- Falcon Garden Tools Pvt. Ltd. (India)
- Ha-Ko Enterprises (India)
- Robert Bosch Power Tools GmbH (Germany)
- American Honda Motor Co., Inc. (U.S.)
- AriensCo (U.S.)
- Fiskars Group (Finland)
- Mountfield (England)
- Stanley Black & Decker, Inc. (MTD Products Inc) (U.S.)
- Emak S.p.A. (Italy)
- Unison Engg Industries (India)
Table of Content:
1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19 on Lawn & Garden Equipment Market
3.3.1. Short-term Impact
3.3.2. Long-term Impact
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Lawn & Garden Equipment Market Share Analysis, 2020
5. Key Market Insights and Strategic Recommendations
Continued….
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