July 21, 2024
Garden Carts and Wheelbarrows Market
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Global Garden Carts and Wheelbarrows Market Is Estimated To Witness High Growth Owing To Rising Demand for Outdoor Activities

The garden carts and wheelbarrows market is estimated to be valued at US$ 2.78 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The garden carts and wheelbarrows market comprises products that are used for transportation of objects like soil, plants, gardening tools and other equipment. Gardening and landscaping activities have increased in the recent past owing to rising interest of people in outdoor activities. Various models of garden carts and wheelbarrows are available in the market for both residential and commercial applications.

Market Dynamics:

Growing participation in outdoor recreational activities such as gardening and landscaping has been a key driver for the garden carts and wheelbarrows market. According to a survey, nearly 80 million Americans participate in gardening and landscaping activities on a frequent basis. Furthermore, easy availability of these products through multiple sales channels including home improvement stores, online retail platforms, and nurseries has supported the market growth over the years. The increasing product innovation in terms of design, material and wheel types has enhanced functionality of these products. For instance, inflation wheel technology has improved mobility over rough terrains.

SWOT Analysis:

  • Strength: Garden Carts and Wheelbarrows are durable and affordable gardening tools. They are highly portable and manoeuvrable allowing easy transportation of soil, plants and other gardening materials around properties. Many models are made from rust-resistant, weatherproof materials ensuring longevity.
  • Weakness: Lower-quality carts and wheelbarrows may break or corrode easily with heavy usage. Larger models can be bulky and difficult to store when not in use. Assembly may be required for some carts.
  • Opportunity: Rising homeownership rates and increasing passion for gardening and landscaping among consumers present an opportunity to target new customer segments. Product innovation tailored for specialized tasks can capture untapped niche demand.
  • Threats: Availability of cheaper alternatives like reusable plastic bins or DIY solutions pose pricing pressure. Seasonal demand cycles bring fluctuations in sales volumes. Supply chain disruptions from global events could hamper timely delivery to retailers.

Key Takeaways:

The Global Garden Carts and Wheelbarrows Market Growth is expected to witness high, exhibiting CAGR of 7.0% over the forecast period, due to increasing home improvement spending and passion for gardening and landscaping as hobbies. North America currently dominates the market accounting for over 35% share backed by large housing stock and affluent demographic profile supportive of outdoor activities.

Regional analysis – Asia Pacific is projected to be the fastest growing regional market during the analysis period on account of rising household income, increasing urbanization and shifting lifestyle trends in major countries like China and India. Europe remains another lucrative regional market while Latin America and Middle East & Africa offer emerging opportunities for players.

Key players – Key players operating in the Garden Carts and Wheelbarrows market are The Gorilla Carts, Mac Sports, Polar Trailer, Radio Flyer, Rubbermaid Commercial Products, Suncast Corporation, WORX, Ace Hardware, Costco, Home Depot, Lowes, Menards, Northern Tool + Equipment, QVC, Sam’s Club, Target, Tractor Supply Co., Walmart, Wayfair, Amazon.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it