Lawn Mowers to Account for Major Chunk of Gardening Equipment Sales, Evaluates Fact.MR
Published : 15 Jun 2021 Industry: Industrial Goods
Fact.MR predicts sales of gardening equipment to rise at a CAGR of around 6% over next ten years, with the market currently worth US$ 97 Bn.
Rising nature conservation concerns and self-doing activities, including gardening, have witnessed a surge across the world with people realising the benefits of gardening as an activity. Additionally, COVID-19 led to a surge in self-doing activities as people were compelled to stay indoors in order to mitigate the spread of virus.
Moreover automation and digitalization being embedded in equipment are making them more user-friendly. Also, fuel efficiency and environmental concerns are changing consumer preferences, which have been addressed with the introduction of hybrid and electrical equipment.
Key Takeaways from Market Study
- The gardening equipment market expanded at 5% CAGR over the past 5 years, and is anticipated to add significant value by 2031.
- Based on product, lawn mowers are expected to capture major market share.
- Among the end uses, the residential sector has been the fastest-growing segment, owing to increasing gardening activities over the past decade.
- North America is set to be the largest market in terms of revenue in 2021, while continuing on the same path right through 2031 to hold ¼ of global market share.
- The market in Western Europe is expected to rise at a high single-digit CAGR through 2031.
- The U.S., Germany, and France are expected to be lucrative markets for manufacturers of gardening equipment.
- Growth remained significant during the COVID-19 crisis attributed to rise in gardening activities across regions. Short-, medium-, and long-term demand is set to grow at a steady pace.
“Product innovation while keeping changing consumer preferences in mind will aid market growth over the coming years,” says a Fact.MR analyst.
Market players are investing in automation and digitalization, and are focusing on consumer-centric approaches. Additionally, high spending on R&D and innovation is what has given a competitive edge to numerous companies and improved their revenue bars.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global gardening equipment market, presenting historical demand data (2016-2020) and forecast statistics for 2021 to 2031.
The study divulges essential insights on the market based on product (hand tools, cape cod weeders, paving weeders, fishtail weeders, shears and snips, lawnmowers and trimmers, and edgers), end use (residential gardening equipment and commercial gardening equipment), and distribution channel (online sales, retail sales, and distributor sales), across six major regions of the world (North America, Latin America, Europe, Japan, APEJ, and MEA).
About the Industrial Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed this industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial Goods and Automotive