Garden Tools Market Research Report. Product Trends & Information (Mowers, Blowers, Vacuums & Sweepers, Pruning, Tamping & Digging Tools, Chainsaws & More), Tool Holders (Tools & Hand Tools), End Use (Residential & Commercial), Distribution Channel (Stores & OTC) and Region (North America, Asia Pacific, Europe, South America, Middle East and Africa) - Market Competitiveness, Size, Share and Growth Forecast to 2027
NEW YORK, United States, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Garden Equipment Market Snapshot:
According to Market Research Future (MRFR), a comprehensive research report, Garden Tools Market Research Report : Information about Product, Tool Holders, End Use, Distribution Channel and Region – Forecast to 2027, the market size of Garden Tools Market is expected to reach 112.09 billion by 2027 at a CAGR of 4.51% from 2020 to 2027.
Market coverage:
Hand and power tools are separate types of garden tools. Common gardening tools include lawnmowers, turf and soil tools, brush cutters and trimmers, shears, secateurs, hammers, shovels and weeders. Growing adoption of garden tools and equipment for home and commercial purposes is driving the growth of the garden tools market. Gardening or lawn care is a favorite hobby of the elderly, which increases the demand for garden equipment in homes.
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Scope of the report:
relationship attribute | details |
Market size 2030 | 112.09 billion dollars |
CAGR | 4.51% (2022-2030) |
reference year | 2021 year |
forecast period | 2022-2030 |
Historical information | 2020 year |
forecast unit | Value ($ billions) |
report cover | Revenue forecasts, competitive landscape, growth drivers and trends |
covered segment | By product, tool holder, end use, distribution channel and region |
geogr | North America, Europe, Asia Pacific and Rest of the World (RoW) |
Key market drivers | Growing trend of horticulture. |
The demand for technological garden tools is growing |
Competitive dynamics:
Market players:
Fiskers Group (Finland),
Husqvarna AB (Sweden),
Falcon Garden Tools Private Limited (India),
Rib Energy Machinery SL (Spain),
Ilaga supplies (Spain),
Stanley Black & Decker, Inc. (USA),
Ingersoll Tillage Group, Inc. (Canada),
Bully Tools, Inc. (USA),
Genport Industries (USA),
Griffin Corporation Inc. (USA)
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Market USP:
market factors
The global garden tools market has grown significantly in recent years and is expected to grow at a rate of 4.51% during the forecast period. The growing popularity of the landscape business and the expansion of the real estate sector are two of the most important factors for the expansion of the market. Additionally, increased demand for technologically advanced gardening tools is fueling the expansion of the gardening tools market. The sector will grow in the coming years through various initiatives including urban green spaces and green infrastructure.
In addition, real estate development increased in all economies due to rising disposable incomes and falling housing prices. This trend is likely to increase the demand for gardening equipment during the forecast period. The age-old trend of converting outdoor spaces into living rooms, entertaining areas, summer kitchens and parties is also expected to help expand the market. With investment in single-family homes on the rise and interest in do-it-yourself projects growing, the sector is expected to perform well. Due to the growing popularity of DIY projects, garden equipment manufacturers are creating a range of affordable and easy-to-use products for home use.
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Market restrictions
However, intensive maintenance of garden equipment complicates the expansion of the industry. On the other hand, power tools are more expensive than hand tools because of the materials used and the superior functionality of the product. This makes the maintenance cost of the product higher than that of hand tools. Due to the technical nature of electrical equipment, the risk of damage is also significant if it is not serviced regularly. In addition, any damage to spare parts may increase the cost of repairing the product. Thus, high maintenance cost of garden tools severely restricts the market expansion.
Analysis of COVID-19:
The COVID-19 pandemic has had a negative impact and is likely to pose a threat to the garden equipment industry. There are several dangers associated with the COVID-19 pandemic. Covid-19 has spread around the world in 2020 and continues to affect global economic activity. The Covid-19 virus caused disruption and instability in financial markets around the world and contributed to the economic downturn in 2020. The Covid-19 pandemic and the accompanying economic uncertainty have had a negative impact on patio equipment manufacturing in most regions and around the world. a wide range of customers. When it comes to COVID-19, governments around the world have implemented measures such as travel bans, business closures, bans on group events and gatherings, shelter-in-place orders, curfews, and social distancing guidelines. These restrictions led to a decrease in economic activity and a temporary cessation of production activities.
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Market segmentation:
By types of products
The lawn mower segment accounted for the largest market share in 2019, while the trimming equipment segment is expected to post the highest CAGR of 4.27% during the forecast period.
on the tool holder
In 2019, the power tools segment had a higher market share and is expected to grow at a higher CAGR of 4.06% during the forecast period.
for final use
In terms of value, the commercial sector accounted for the largest market share in 2019 and is expected to have the highest CAGR of 4.06% during the forecast period.
By delivery method
In-store segment held a large market share of 62.32% in 2019, while the non-store segment is expected to grow at a faster rate of 4.19% during the forecast period.
Regional analyses:
In 2019, North America had the largest market share in the lawn equipment industry at 44.58%. The regional market is expected to grow at a CAGR of 4.10% during the forecast period. With the growing demand for landscaping equipment, North America accounts for the largest market share. Industry players buy products to expand their offerings. For example, commercial lawn equipment company Briggs & Stratton announced the acquisition of Hurricane, Inc., a manufacturer of leaf blowers. In addition, the rising standard of living and the advanced lifestyle of the residents of Canada's megacities forces corporate offices to make decisions about the improvement of their open spaces. Therefore, most real estate companies invest in improving the environment of the property and improving the surrounding landscape. As a result, an increasing number of hotels are implementing landscape design in and around their facilities. Thus, political changes, regional and demographic suitability, and adoption of advanced technologies are expected to boost the North American lawn market.
Europe accounted for 24.17% of the global garden tools market in 2019 and is expected to grow at a CAGR of 4.02% during the forecast period. Greater involvement of the European community in greening and spending on the landscape represents a significant contribution. Emphasis on product development and R&D by industry players to capture market share will drive market growth. In Germany, Terra announced the launch of a robotic lawnmower with smart display technology and the ability to automatically recharge when the battery is low. Growing interest in horticulture and horticulture is also contributing to increased sales of equipment in this area. In addition, the average British household spends more than $200 on gardening services, a figure that has risen in recent years. In addition, technological advancements, rising disposable incomes in the region, and an aging population that spends more time on gardening will increase sales of garden equipment during the forecast period.
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