February 25, 2024
Lawn & Garden Equipment Market
Ict

The Global Lawn & Garden Equipment Market is Driven by Rising Consumer Spending on Outdoor Activities

Lawn & garden equipment manufacturers produce a variety of tools that are used to maintain lawns, flower beds, vegetable gardens, and other outdoor spaces. These include lawn mowers, leaf blowers, line trimmers, chainsaws, and watering equipment. Due to their versatility and ability to streamline outdoor maintenance tasks, the demand for lawn and garden equipment has increased significantly over the years. Rising disposable incomes and expanding home ownership have encouraged more consumers worldwide to invest in their outdoor living spaces and amenities. Meanwhile, lawn and garden care services have also become a popular option for those unwilling or unable to maintain their own green spaces.

The global Lawn & Garden Equipment Market is estimated to be valued at US$ 33.97 billion in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

One of the key trends fueling growth in the global lawn and garden equipment market is the increasing adoption of battery-powered electric variants. Cordless electric tools are rising in popularity due to their ease of use, lack of emissions, and lower noise levels compared to gas-powered alternatives. Major equipment manufacturers have responded to this demand shift by expanding their electric product lineups. Battery technologies continue to improve as well, with longer runtimes and faster recharging enabling electric lawn mowers and other appliances to compete effectively with gas models. Sustainability has also become an important purchasing factor for many consumers, driving further preference for zero-emissions electrical lawn care solutions.

Porter’s Analysis

Threat of new entrants: Low barrier to entry due to low initial capital investment required to start a small business. However, established brands have significant brand loyalty and economies of scale which deter new entrants.

Bargaining power of buyers: High as buyers have a large variety of options and brands to choose from for their lawn and garden equipment needs.

Bargaining power of suppliers: Moderate as key components can be sourced from multiple suppliers globally. Established OEMs also have significant negotiation power over suppliers.

Threat of new substitutes: Low as there are limited substitutes available for power equipment needed for large-scale yard maintenance and landscaping.

Competitive rivalry: High intensity of competition among established brands like Honda, Briggs & Stratton, ECHO, STIGA, Craftsman, etc. fighting for market share through product innovation, competitive pricing, and brand recognition.

Key Takeaways

The Global Lawn & Garden Equipment Market Size is expected to witness high growth over the forecast period.

Regionally, North America dominates currently due to high spending on outdoor living spaces and professional landscaping. Europe and Asia Pacific are also growing at a significant pace led by countries like China, India, and Germany.

Key players operating in the Lawn & Garden Equipment market are Husqvarna, MTD, Robert Bosch, STIGA, and Emak. Husqvarna and MTD together control over 35% market share globally. Husqvarna has established strong brand recognition especially in robotic lawn mowers. MTD dominates mass market segment with affordable product offering across various power equipment categories.

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