The landscaping equipment market size is expected to grow from USD 30.82 billion in 2023 to USD 39.34 billion in 2028 at a CAGR of 5% during the forecast period (2023-2028). Main points:
NEW YORK, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of "Landscaping Equipment Market Size and Share Analysis - Growth Trends and Forecasts (2023 - 2028)" - https:// www.reportlinker.com / p06484075/?utm_source=GNW
The landscaping equipment market size is expected to grow from USD 30.82 billion in 2023 to USD 39.34 billion in 2028 at a CAGR of 5% during the forecast period (2023-2028).
Main points:
In the long term, the growing trend of urban horticulture and landscaping in residential and commercial projects in developed and developing countries, along with the launch of new landscaping equipment by major market players, will fuel the growth of the market for landscaping equipment. landscape during the forecast. was. duration.
Many countries are transitioning to an organic and green environment by planting indoor/urban gardens. Therefore, customers interested in indoor/urban gardening can increase sales of landscape gardening equipment such as small hand tools and power tools.
Among regions, North America is the dominant market due to increased spending on lawn and garden equipment, awareness of the benefits of growing one's own food, increased health awareness, and availability of advanced technology .
Garden Equipment Market Trends
Kitchen/interior garden development
Indoor/kitchen gardening is the practice of growing crops to meet the needs of the home. This trend has increased the demand for landscaping tools that provide consumers with simple and convenient gardening steps.
Established companies provide solutions for consumers to grow fresh fruits and vegetables at home. New and innovative companies are realizing the potential of the market and expanding their businesses into new regions where the demand for home gardens is high.
According to the Ministry of Statistics and Program Implementation (MoSPI), the total cost of home gardens in India is increasing every year, creating an opportunity to increase sales of landscaping equipment in the Indian market. Furthermore, increased spending on garden tools is likely to boost the demand for garden tools across the globe during the forecast period.
North America dominates the market
Landscaping and lawn care is a growing business in North America. The industry is a low-cost, high-skill occupation that provides immigrants and first-generation Americans with a home and access to the mainstream economy. The development of this industry has a positive effect on the use of garden equipment. 80% of the US population lives in cities. With increasing environmental protection, the people of the country are focusing on green gardens, better air quality and entertainment, which shows the growing popularity of landscaping and gardening tools in the country.
Rising living standards and the progressive lifestyle of Canada's urban population are two main factors forcing corporate offices to design their open spaces. A well-furnished office has been observed to have a positive effect on employees. Landscaping is also known to improve property values. Therefore, most commercial real estate companies spend money to improve the property's surroundings and enhance the landscaping of the area. The landscape has become one of the many forms of ecotourism in Canada. If hotels were willing to pay more to see green space, guests would earn an additional $6 million to $7 million a year. Therefore, many hotels are willing to use the landscape in and around their buildings. Therefore, policy changes, geographic and demographic adjustment, and the use of advanced technology are the main factors driving the availability of marketable land in North America.
Garden Equipment Industry Overview
The garden equipment market is quite concentrated with many large, small and medium-sized manufacturers. Key players in the market include Andreas Steel AG & Co.KG, Husqvarna AB, MTD Products Inc., Robert Bosch GmbH, Stanley Black & Decker Inc., Honda Power Equipment, and The Toro Corp. Product innovation and acquisition are keys. The strategies adopted by these companies use innovative technologies to increase their market share and improve production capabilities.
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