The global lawn and garden equipment market is poised to witness a massive momentum in the coming years perhaps attributing to the increasing construction activities across the globe. It is prudent to mention that the growing adoption of green roof technologies has also aided the rising demand for these equipment.
The worldwide lawn and garden equipment industry is vastly driven by the ongoing technological advancements, some of which include methodologies to enhance the cutting operations. Furthermore, the elevating consumer spending alongside international trade agreements are expected to fuel the business growth during 2019-2025.
With the green initiative and promotion doing rounds, high end support of government initiatives towards the enforcement of green and sustainable environment is anticipated to leverage huge possibilities for the various industry players. The industry mammoths such as Robert Bosch, MTD Holdings, Honda, and others, have laid focus on enhancing their supply chain operations whilst launching new products to sustain their foothold in the global market.
Highly influenced by the requirement of efficient lawn and garden maintenance, the worldwide lawn and garden equipment market size is envisaged to be pegged at USD 45 billion by the end of 2025 in terms of revenue, as estimated by Global Market Insights, Inc.
Enumerated below are the trends that are projected to render potential gains to the lawn and garden equipment market in the upcoming years:
Increasing adoption of electric powered equipment
With the technological developments being at a par in the current era, the adoption of electric powered equipment for cutting operations has witnessed a gradual upsurge. Estimates claim that the segment is probable to register a CAGR of 8 per cent through 2025. This growth is ascribed to the robust efficiency of the equipment. On account of this, various industry players are closely working to devise strategies with an intent to optimizing the battery efficacy. As a matter of fact, STIHL, in January 2017 unveiled its high speed battery hedge trimmer delivering exceptional power to weight ratio and reduced operational cost.
In this regard, it is imperative to note Asia Pacific region will witness a lucrative growth of 8 per cent by 2025. The burgeoning construction activities across the commercial and residential sectors in the region have called for high demands of lawn and garden equipment. Also, the advent of upcoming sports event in APAC region including the 2020 Olympics on Japan and Winter Olympic games in China in 2022, have spurred the industry growth exponentially. The propelling industry trends are also a result of growing number of golf courses and playgrounds across the region.
Expanding use across the golf course sector
The use of lawn and garden equipment has seen a lucrative growth across the golf course segment. In fact, the golf course segment procured over one fourth of the global business share in 2018 and is expected to foresee phenomenal growth in the near future owing to the presence of myriad golfing facilities worldwide. According to the statistics by National Golf Foundation, the world houses over 38,500 golf courses.
To sustain the growth of the market from this segment, various countries are increasing the number of golfing facilities. Say for instance, Turkmenistan in 2018 launched its Ashgabat Golf Club only to enter the list of golfing countries globally.
In order to ensure the proper functionality and maintenance of the golf courses, efficient distribution of water over the area is highly recommended. In this context, the sprinklers and hoses hold prominence in the industry. Apparently, various course owners have already initiated the installation of these devices to reduce the outdoor water use.
Increased driver comfort to augment rider lawn and garden equipment market dynamics
Global lawn and garden equipment market through the rider tool segment is likely to witness hefty proceeds in the forthcoming years. This segmental growth can be attributed to the equipment’s provision of comfortable seating arrangement for the driver to reduce the stress level and fatigue whilst improving the output efficiency.
Supporting this, Deere and Company in early 2018, launched 100 series lawn tractors incorporating comfortable and hassle free operation for the users.