Global Lawn and Garden Equipment Market in terms of volume is estimated to reach 47 Million units by 2026, registering a 13.04% CAGR during the forecast period.
The lawn & garden equipment are garden tools used for cutting, trimming, aligning, and maintaining the structure of the lawns and gardens. With the advancement of science and technology, materials such as aluminum, steel, and iron have been used to develop several types of lawn & garden equipment such as lawnmowers, snow throwers, trimmers, and walk-behind mowers.
Global Market for Lawn and Garden Equipment has been segmented based on Type, End Use, and Region.
Based on Type, the global market has been segmented into lawn rider, lawn ZTR, walk behind, snow throwers, and trimmers and edgers. In 2019, the trimmers and edgers segment accounted for the largest market share of 50%, with a market shipment of 16 million. It is projected to register a 12.72% CAGR during the projected timeframe.
Based on the end use, the global market has been segmented into residential and commercial. In 2019, the residential segment accounted for a larger market share of 73%, with a market value of USD 17,926 million. It is projected to register a 13.36% CAGR over the forecast period.
Based on region, the report on the lawn and garden equipment market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Lawn and Garden Equipment Market, by Region, 2019
Source: MRFR Analysis
The growth of the gardening and landscaping industry and the rise in the adoption of technologically advanced equipment are the major factors expected to promote lawn & garden equipment globally. Smart gardening enables end-users to make gardening simpler and on-time maintenance. The rise in the number of golf courses is the major factor for the demand for lawn & garden equipment globally. Golf is played around the globe. By the end of 2019, there were around 38,864 golf courses in 209 of the world’s 249 countries, which is an 84% diffusion rate of the sport globally. Thus, these factors are anticipated to be driving factors for the growth of the lawn & garden equipment market.
Golf is the leading outdoor pay-for-play, individual participation sport in the US. As per the National Golf Foundation (NGF), total golf participation climbed to 33.5 million in 2018, considering the increasingly popular on-course and off-course forms of the game such as Topgolf, Drive Shack, and indoor simulators. Almost 1 in every 9 Americans plays golf in some form, more than in sports such as basketball, tennis, baseball, and skiing. This makes the lawn & garden equipment a critical aspect in ensuring proper maintenance and landscaping of the golf courses in the Americas, which is expected to result in the growth of the global lawn & garden equipment market during the forecast period.
The global market for lawn and garden equipment has been segmented based on type and end-use. The demand for gardening is moderate all-over the world. However, the impact of rising technological advancement is expected to shift from moderate to high over the forecast period. This is attributed to the rising purchasing power, increasing individual income, changing lifestyles, economic growth, and urbanization. However, the high-cost garden equipment replacement in the aftermarket will limit the demand for lawn & garden equipment, which directly affects the working of the lawnmowers and the operators' comfort. The limited presence of lawn & garden equipment manufacturers in the aftermarket will increase the replacement price of the unauthorized players.
The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain market growth. The Toro Company, MTD, Kubota Corporation, Briggs & Stratton Corporation, Husqvarna Group, and Deere & Company are a few of the key players operating in the global market.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
Global lawn & garden equipment market is projected to grow at approximately 5% CAGR during the assessment period (2020-2026).
Trimmers & Edgers is the largest application segment in the global lawn & garden equipment market.
Substantial investments by commercial mower manufacturers on engineering and designing the perfect mower decks and increasing sales of residential decks are major tailwinds pushing the growth of the global lawn & garden equipment market.
North America holds the largest share in the global lawn & garden equipment market, followed by Europe and Asia Pacific region, respectively.
Husqvarna Group (Sweden), Deere & Company (US), The Toro Company (US), Robert Bosch GmbH (Germany), Honda Motor Co., Ltd (Japan), Briggs & Stratton Corporation (US), AGCO Corporation (US), Kubota Corporation (Japan), MTD (US), Excel Industries Inc. (US), Metalcraft of Mayville (US), and AriensCo (US), are some of the top players operating in the global lawn & garden equipment market.