The global landscaping tools market was valued at USD 27.96 billion in 2020 and is expected to reach USD 37.10 billion by 2026, registering a CAGR of 5% during the forecast period (2021-2026) .
). Due to Covid-19, landscaping tool makers have faced challenges, such as supply chain disruptions and a labor shortage, which have resulted in lower sales . However, due to increased landscaping and gardening activities, sales of landscaping tools increased after a few months as lockdowns were lifted in several countries.
New York, July 20, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Landscape Tools Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” – https://www.reportlinker.com/p06106047/?utm_source=GNW
Among the regions, North America is the main dominant market. For example, in 2018, spending by U.S. gardeners was recorded at $ 47.8 billion on retail lawn and garden sales with a record average household spending of $ 503, over $ 100 compared to the previous year. previous year i.e. 2017. The increased spending on lawn and gardening tools has driven the market growth and in turn will create opportunities for business.
Many countries around the world have switched to an organic and eco-friendly environment by installing indoor / urban gardening in their homes. Therefore, this type of customer has the opportunity to increase sales of tools used for gardening, such as small hand tools and power tools. Furthermore, with the increasing household awareness regarding environmental conservation by improving green roofing, the opportunities for new and existing players in the landscaping tools market may improve during the period. forecast.
Key market trends
Growing trend in indoor cooking / gardening
Indoor / kitchen gardening is a practice of growing crops in residential homes to meet household needs, which are increasing in developed countries. This, in turn, has increased the demand for landscaping tools that provide consumers with easy and convenient measures for gardening. The additional benefits of these landscaping tools led to an increase in demand for the same during the study period.
During the pandemic, many countries saw a growing trend in home gardening. As people began to question food supply chains, their transparency and food safety, the thought of a food shortage became a serious concern. Instead, people started growing their own fresh produce at home to eliminate these problems. This further requires the growth of landscaping tools on a global scale.
It’s not just established companies that offer consumers solutions for growing fresh fruits and vegetables in their homes. Upcoming companies notice the market potential and expand their activities into new provinces where the demand for indoor vegetable gardens is high.
In addition, according to the Indian Ministry of Statistics and Program Implementation (MoSPI), the gross value of home gardens is increasing every year. This, in turn, creates an opportunity to increase sales of landscaping tools in the Indian market. Also, increasing spending on gardening tools indicates the possibility of higher demand for landscaping tools across the globe during the forecast period.
North America is the main dominant market
Landscaping and lawn care is a booming business enterprise in North America. This industry is a low cost, high sweat equity profession that offers immigrants and first generation Americans a starting point and gateway to the mainstream economy. The growth of this industry has a favorable impact on the use of landscaping tools. With the growing concerns of environmental pollution, approximately 80% of the population of the United States remains in urban areas. Locals focus on a green yard for better air and recreational activities. This indicates an increase in the popularity of landscaping in the country, which leads to the use of gardening tools.
Landscaping is also known to improve the value of the property. So, most real estate companies spend money on improving the area around the property and expanding the landscaped area of the area. Landscaping in Canada has become one of many forms of ecotourism. Hotels earn around $ 6-7 million a year in extra revenue from guests willing to pay extra for a view of the green space. Therefore, more and more hotels are willing to use landscaping in and around its building. Hence, policy changes, geographic and demographic suitability, and the use of advanced technologies are the major factors that are expected to drive the North America landscaping tools market.
The market for landscaping tools is quite consolidated with the presence of many large, small and medium manufacturers. The main players in the market are Andreas Stihl AG & Co. KG, Husqvarna AB, MTD Products Inc., Robert Bosch GmbH, Stanley Black & Decker Inc., Honda Power Equipment and The Toro Corp., among others. Product innovation and acquisitions are the main strategies followed by these companies to increase their market share and improve their production capacities using innovative technology.
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