USA, Rockville MD, Aug. 15, 2022 (GLOBE NEWSWIRE) — According to Fact.MR’s gardening equipment research analysis, the top vendors are The Ames Companies Inc., Estwing Manufacturing Company Inc., Alamo Group Inc., Briggs and Stratton Corp., The Toro Co., Kubota Corp. and Robert Bosch GMBH, and collectively accounted for nearly 50% of global revenue in 2020.
Over the past five years, gardening equipment sales have grown at a modest CAGR of around 5%, with developed countries such as the US, UK and Germany seeing robust growth in terms of of income.
The increase in landscaping activities, coupled with the rise of commercial and residential projects, has been one of the main reasons for the expansion of the market. For example, the housing market has been forecast to see sales increase by 7% by the end of 2021, a gradual increase of 1.2% from 2020.
Additionally, advancements in technology such as the development of hybrid lawn mowers, lawn aerators, and power tools have contributed to the growth of the market as more and more consumers now prefer power efficient equipment of fuel and energy.
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Key insights from market research
- The Garden Equipment Market has been growing at a CAGR of 5% over the past 5 years and is expected to add significant value by 2031.
- Based on the product, lawn mowers are expected to capture a large market share.
- Among end uses, the residential sector has been the fastest growing segment, due to the increase in gardening activities over the past decade.
- North America is expected to be the largest market in terms of revenue in 2021, while continuing on the same path until 2031 to hold ¼ of the global market share.
- The market in Western Europe is expected to grow at a high single-digit CAGR through 2031.
- The United States, Germany and France are expected to be lucrative markets for gardening equipment manufacturers.
- Growth remained strong during the COVID-19 crisis, attributed to increased gardening activities across all regions. Short, medium and long-term demand is expected to grow at a sustained pace.
Market players are investing in automation and digitization and focusing on consumer-centric approaches. Moreover, high spending on R&D and innovation is what has given many companies a competitive edge and improved their revenue bars.
Key points covered in the Gardening Tools market report:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Analysis by segment, by country and by region
- Competitive Mapping and Benchmarking
- Brand share and market share analysis
- Main product innovations and regulatory climate
- Impact of COVID-19 on gardening equipment and how to navigate
- Recommendation on the main winning strategies
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Competitive Landscape According to Garden Equipment Industry Survey
Major market players have primarily relied on a combination of organic and inorganic growth strategies such as product launches, collaboration, acquisitions, and capacity expansion.
Some of the key developments are:-
- In September 2020, KPS Capital Partners, LP announced the acquisition of all assets of Briggs & Stratton and certain of its wholly owned subsidiaries. The acquisition aims to increase significant investments in R&D, technology and new product development. KPS also announced that it would provide resources to Briggs & Stratton to pursue strategic acquisitions.
- Bosch’s new Indego robotic lawnmower has built-in technology to intelligently map and mow a lawn or garden. This product comes with a diverse product line, suitable for both residential and commercial areas.
Key Market Segments Covered
- By product
- Hand tools
- Cape Cod weeders
- Paving weeders
- Fishtail weeders
- Shears and shears
- Lawn mowers and trimmers
- By end use
- Residential gardening equipment
- Commercial gardening equipment
- By distribution channel
- Online sale of gardening equipment
- Retail sale of gardening equipment
- Distributor Sale of Gardening Equipment
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More valuable information
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 discloses essential market information based on the product (Hand Tools, Cape Cod Weeders, Paving Weeders, Fishtail Weeders, Shears & Shears, Lawn Mowers & Edgers & Trimmers), end-use (residential gardening equipment and commercial gardening equipment), and distribution channel (online sales, retail sales and sales to distributors), in six major regions of the world (North America, Latin America, Europe, Japan, APEJ and MEA).
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