Pune, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Lawn & Garden Equipment Market Growth Analysis:
“According to SNS Insider, The Lawn & Garden Equipment Market was valued at USD 27.90 Billion in 2023 and is anticipated to grow to USD 54.39 Billion by 2032, representing a compound annual growth rate (CAGR) of 7.7% during the forecast period from 2024 to 2032.“
Rise in Smart-Tech Gardening Tools and Eco-Friendly Trends Boost Market Expansion
The expansion of the lawn & garden equipment market is significantly driven by the growing inclination towards advanced and smart-tech gardening tools. Innovations such as GPS systems, auto-braking mechanisms, and automated cutting systems are enhancing user convenience and gardening efficiency. The rise in consumer preference for automated and robotic lawn mowers, which currently represent about 10-15% of overall sales, highlights the shift towards low-maintenance, smart equipment. Furthermore, the surge in residential gardening and landscaping activities exacerbated by the recent global pandemic has increased investment in electric-powered equipment, now making up approximately 25% of total sales.
Environmental regulations also play a critical role in shaping market dynamics. For instance, California's upcoming ban on gasoline-powered small off-road engines in 2024 is expected to accelerate the adoption of electric and battery-powered lawnmowers. The growing trend towards organic gardening is expected to drive a 20% increase in sales of electric and battery-powered tools by 2027 compared to gas-powered alternatives. However, high prices of advanced electric and robotic equipment, coupled with fluctuating raw material costs, present ongoing challenges for manufacturers.
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Major Players Analysis Listed in this Report are:
- Ariens Company
- American Honda Motor Co. Inc.
- Briggs Stratton
- Deere & Company
- Falcon Garden Tools
- Fiskars
- Husqvarna Group
- Robert Bosch GmbH
- Robomow Friendly House
- The Toro Company
- Other Players
Lawn & Garden Equipment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 27.90 Billion |
| Market Size by 2031 | US$ 54.39 Billion |
| CAGR | CAGR of 7.7% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • Rising interest in landscaping and gardening, especially in North America and Europe, is boosting demand for lawn and garden equipment. • Technological innovations in robotic mowers, battery tools, and smart irrigation systems are boosting lawn maintenance efficiency and attracting eco-conscious consumers. |
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Segmentation Analysis: Residential Dominance and the Rise of Electric Power in Lawn & Garden Equipment
By End-Use: The residential segment dominated the lawn & garden equipment market, holding approximately 59.04% of the market share in 2023. This dominance is attributed to the rise in single-family households and the growing trend of Do-It-Yourself (DIY) gardening. The increasing availability of affordable and user-friendly garden equipment tailored for household use is contributing to this segment's expansion.
By Power: The Electric segment led the market with a share of around 46.4% in 2023. This dominance is driven by rising concerns over global warming and fuel emissions, pushing consumers towards eco-friendly solutions. The shift towards green energy solutions is facilitating the growth of the electric segment and, consequently, the overall market.
Lawn & Garden Equipment Market Segmentation:
By Type
- Lawn Rider
- Lawn ZTR
- Walk Behind
- Snow Throwers
- Trimmers and Edgers
By End Use
- Residential
- Playgrounds
- Golf Course
By Power
- Manual
- Electric
- Gas
Regional Analysis: North America's Market Dominance and Asia Pacific's Rapid Growth in Lawn & Garden Equipment
North America: North America held the largest market share of around 36.08% in 2023. This leading position is due to rising disposable incomes, improved living standards, and increased automation in lawn and garden equipment. The region benefits from the high durability and availability of raw materials such as aluminum, steel, and iron, which are essential for producing lawn and garden equipment. Companies like John Deere and Husqvarna are leveraging this material availability to offer innovative and durable products in the region.
Asia Pacific: Asia Pacific is the fastest-growing region in the Lawn & Garden Equipment Market. The growth is driven by rapid urbanization, increasing disposable incomes, and a rising interest in gardening and landscaping. Countries like China and India are experiencing significant market expansion. Leading companies such as Honda and Makita are capitalizing on this growth by introducing advanced and affordable lawn and garden equipment tailored to the needs of this region's expanding consumer base.
Recent Developments
In October 2023: Honda debuts its first-ever electric autonomous zero-turn riding lawn Rider called the Honda Autonomous Work Rider (AWM).
In June 2023: John Deere announced a new partnership with EGO enabling John Deere to sell EGO-branded battery products through John Deere dealers.
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Key Takeaways
- The report provides an in-depth analysis of the Lawn & Garden Equipment Market, offering valuable information into the key drivers, trends, and growth factors shaping the industry. It helps stakeholders understand the evolving market dynamics and strategic opportunities.
- The report presents a thorough evaluation of market size, segmentation, and share. It includes data on market value, growth rates, and recent developments, ensuring a clear understanding of the current and future landscape of the Lawn & Garden Equipment Market.
- The report highlights the significant technological innovations driving market growth, including smart-tech gardening tools and eco-friendly solutions. It provides an overview of emerging trends such as automation, electric-powered equipment, and their impact on market expansion.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Lawn & Garden Equipment Market Segmentation, By Type
8. Lawn & Garden Equipment Market Segmentation, By End Use
9. Lawn & Garden Equipment Market Segmentation, By Power
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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