July 21, 2024
Lawn & Garden Equipment Market

Rapid Urbanization Trend Driving The Growth Of Lawn & Garden Equipment Market

The Global Lawn & Garden Equipment Market Is Estimated To Be Valued At US$ 29.48 Bn In 2023 And Is Expected To Exhibit A CAGR Of 5.3% Over The Forecast Period 2023 To 2030, As Highlighted In A New Report Published By Coherent Market Insights.

Market Overview:
Lawn & Garden Equipment Includes Power And Hand Tools Required For Landscaping Activities And Maintenance Of Lawns, Gardens And Greens. Power Lawn & Garden Equipment Includes Mowers, Trimmers, Blowers And Other Equipment And Are Powered By Gasoline, Electricity Or Batteries. Demand For Lawn & Garden Equipment Is Increasing Globally Owing To Rapid Urbanization Trend And Increasing Consumer Spending On Outdoor Power Equipment. Growing Trend Of Outdoor Recreational Activities And Desire To Maintain Aesthetic Home Landscapes And Gardens Is Further Driving The Market Growth.

Market Key Trends:
Zero Emissions Power Equipment Trend Is Gaining Traction In Lawn & Garden Equipment Market. Major Players Are Focusing On Developing Eco-Friendly Lawn Care Equipment That Are Powered By Clean Energy Sources Such As Solar Or Electric Battery To Minimize Carbon Footprint. For Instance, Ego Power+ Produces Electric Lawn Mowers, String Trimmers And Other Equipment That Do Not Require Gas Or Oil. Similarly, Other Players Such As Stihl, Ryobi, Greenworks And Makita Have Electric Product Lines. Rising Environmental Consciousness Coupled With Technological Advancements Is Boosting Adoption Of Zero Emissions Lawn Care Equipment Globally.
Porter’s Analysis

Threat Of New Entrants: Low-Moderate, Due To Requirement Of Huge Investments And Established Distribution Networks Of Existing Players.

Bargaining Power Of Buyers: Moderate, As Buyers Have Several Options But Switching Costs Are Relatively Low.

Bargaining Power Of Suppliers: Low, As Raw Materials Are Commodity And Suppliers Are Fragmented.

Threat Of New Substitutes: Low, As Limited Substitutes Are Available For Lawn And Garden Equipment.

Competitive Rivalry: High, As The Market Is Dominated By Global And Regional Players.

Key Takeaways

The Global Lawn & Garden Equipment Market Share Is Expected To Witness High Growth, Exhibiting CAGR Of 5.3% Over The Forecast Period, Due To Increasing Demand For Tools Required For Lawn Maintenance And Commercial Landscaping.

Regional Analysis: North America Dominates The Global Market, Owing To High Disposable Incomes, Growing Trends Of Outdoor Recreational Activities And Rise In Construction Projects. Asia Pacific Is Expected To Fastest Growing Region, Led By India And China On Account Of Rapid Urbanization, Increasing Construction Activities And Rising Number Of Gardens And Lawns.

Key Players Operating In The Lawn & Garden Equipment Market Are The Toro Company, Kubota Corporation, Honda Motor Co., Husqvarna AB, Briggs & Stratton, Deere & Company, MTD Products, Ariensco, Stihl, Emak S.P.A., AL-KO, Makita Corporation, Robert Bosch, Stanley Black & Decker, Techtronic Industries, Yamabiko Corporation, American Honda Motor Co., Generac Power Systems, Lawn-Boy Inc., AL-KO Gardentech.

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