Nov 22, 2018

Growth of Global Gardening Equipment Market to Center around Commercial Sector, finds Fact.MR


by Team Fact.MR

The global gardening equipment market is envisaged to enjoy a bright future in terms of growth as the landscaping industry gains impetus. The commercial and residential sectors seeing the increasing demand for well-trimmed lawns could significantly contribute toward the growth of the global gardening equipment market. The need to avoid weed growth in parks, lawns, and gardens is expected to cause a surge in the demand for gardening equipment. Water sprinklers are largely sold in the global gardening equipment market because of the need to maintain freshness in gardens. Thus, lawn maintenance could act as a powerful growth factor for the global gardening equipment market. 

Fact.MR foresees the global gardening equipment market to rise at a 4.2% CAGR between 2017 and 2022. The global gardening equipment market could face challenges due to the rising inclination toward the maintenance of garden patches and indoor plants observed in both the residential and commercial sectors. However, the penetration of social media, smart devices, and smart applications in the global gardening equipment market is anticipated to create a whole lot of opportunities in the coming years. Moreover, horticulture is considered as a commonly adopted leisure-time activity, especially among the aged. This could also push the demand in the global gardening equipment market. 

By distribution channel, the authors of the Fact.MR report have classified the global gardening equipment market into distribution sales, retail sales, and online sales. Among these, retail sales are foretold to secure a colossal share of the global gardening equipment market. By the final forecast year, this segment could collect more than a US$14.0 bn. It could be followed by online sales for the next few years. Established players may focus on product innovation to differentiate themselves from local manufacturers. This strategy could also help them to achieve a position of strength in the global gardening equipment market. 

By type of product, the global gardening equipment market has been divided into several segments, i.e. trimmers and edges, lawnmowers, shears and snips, hoes, fishtail weeders, paving weeders, cape cod weeders, and hand tools. Among these, paving weeders are envisioned to show faster growth in the global gardening equipment market. This segment could exhibit higher CAGR during the course of the forecast period. On the other hand, lawnmowers are forecast to bag a massive share of the global gardening equipment market. They are increasingly used because of the rising demand for lawn manicure in the commercial sector. By the end of 2022, they could account for more than a US$7.0 bn share of the global gardening equipment market. 

By end use, the global gardening equipment market has been classified into commercial and residential. Among these, the commercial sector is expected to show dynamic behavior in terms of its growth in the global gardening equipment market. On one hand, it could see a decline in the consumption of gardening equipment, whereas on the other, it is envisaged to create decent demand in the global gardening equipment market because of the demand for landscaping and lawn mowing. Besides posting a higher CAGR, its segment could collect a commanding share of the global gardening equipment market. In 2017, it was valued at an US$18.0 bn. 

North America could be a prominent region in which the gardening equipment market is expected to show impressive growth in the foreseeable future. Asia Pacific is envisioned to exhibit faster growth in the global gardening equipment market. Factors such as improved standard of living and increased disposable income of people in the region could support the quicker rise of Asia Pacific in the global gardening equipment market. Latin America and the MEA are also expected to contribute to the global gardening equipment market.