Gardening Equipment Market to Reach $74.97 Billion Globally by 2031 at a CAGR of 6.2%: Allied Market Research
Rapid industrialization and urbanizationincreasing middle-class population along with increasing disposable income and technological advancements in the gardening equipment industry driving the growth of the global gardening equipment market
PORTLAND, Oregon., August 18, 2022 /PRNewswire/ — Allied Market Research released a report titled “Gardening Equipment Market By Product Type (Lawn Mowers, Handheld Equipment, Others), By End User (Residential, Commercial), By Sales Channel (Online, Offline): Global Opportunity Analysis and Forecast industry, 2021-2031“. According to the report, the garden equipment industry generated $40.40 billion in 2021, and should generate $74.97 billion by 2031, with a CAGR of 6.2% from 2022 to 2031.
Main determinants of growth
Rapid industrialization and urbanization, increasing middle class population along with rising disposable income and technological advancement in gardening equipment industry is driving the growth of the global gardening equipment market. However, seasonal variations are the major restraining factors hindering the growth of the market. Additionally, product developments such as lightweight tools as well as the growing popularity of using smartphone apps for gardening may entice the public to purchase these tools. This is expected to boost the gardening equipment market opportunities over the forecast period.
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- The outbreak of the Covid-19 pandemic has had a negative impact on the global gardening equipment market. Various key manufacturers in the market have had to halt their operations in countries such as Chinathe United States and Indiaespecially in the initial period.
- Construction activities were delayed due to lack of raw materials, supply chain disruptions, unavailability of labor, which in turn had a direct impact on the market world of gardening equipment.
- The sale of gardening equipment has also been hampered, due to the drop in disposable income.
- However, the reopening of production facilities and the introduction of coronavirus vaccines are expected to lead to the reopening of gardening equipment companies.
The lawn mower segment will maintain its leading status throughout the forecast period
Based on product type, the lawn mower segment held the highest market share in 2021, accounting for more than three-quarters of the global gardening equipment market, and is expected to maintain its leading status throughout the forecast period. Moreover, the same segment is expected to show the highest CAGR of 6.7% from 2022 to 2031, due to advancements in technology saving energy, time and cost. The report also analyzes portable and other equipment.
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The residential segment to maintain its leading position during the forecast period
On the basis of end-user, the residential segment accounted for the largest share in 2021, contributing around two-thirds of the global gardening equipment market, and is expected to maintain its leading position during the forecast period. Moreover, the same segment is expected to show the highest CAGR of 6.5% from 2022 to 2031, owing to the rise in construction activities with rapid industrialization and population growth. The research also analyzes the business segment.
The offline segment to maintain its leading position during the forecast period
Based on the sales channel, the offline segment accounted for the largest share in 2021, contributing about two-thirds of the global gardening equipment market, and is expected to maintain its leading position during the forecast period. This is attributed to the adoption of technological advancements in the gardening equipment industry. However, the online segment is expected to exhibit the largest CAGR of 6.9% from 2022 to 2031, owing to the increase in construction activities in developing countries such as China, Indiaand Africa.
North America maintain dominance by 2031
Based on the region, North America held the highest market share in terms of 2021 revenue, accounting for nearly half of the global gardening equipment market, due to increasing population and increasing disposable income. However, the Asia Pacific The region is expected to witness the fastest CAGR of 9.2% from 2022 to 2031. This is attributed to the increase in renovation and repair works in developing countries such as China, India, Vietnamand Indonesia.
Major Market Players:-
- Stanley Black & Decker
- Robert Bosch Power Tools GmbH
- Stiga Group
- Excel Industries, Inc.
- The Toro Company
- STIHL Holding AG & Co. KG
- Deere & Company
- Hitachi Ltd.
- Honda Motor Co., Ltd.
- Husqvarna AB
- Ariens Company
- Briggs Stratton
- Falcon garden tools
- INCORPORATED ECHO
- KUBOTA Company
- Schiller Grounds Care, Inc.
- Emak SpA
The report provides a detailed analysis of these key market players. These companies have adopted several strategies such as partnerships, expansion, collaborations, new product launches, and mergers and acquisitions to maintain their presence in the industry. Additionally, the report is essential in determining the business performance, product portfolio, operating segments, and developments of each market player.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. CEO of Allied Market Research Pawan Kumar is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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