Lawn and Garden Equipment Market by Growth Opportunities and Geographic Insights to 2025
Category: #headlines  By Rahul Varpe  Date: 2020-11-04
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Lawn and Garden Equipment Market by Growth Opportunities and Geographic Insights to 2025

APAC is set to play host for various upcoming sporting events, including the 2020 Olympics, which would be held in Japan, and the 2022 Winter Olympic Games, that would be held in China. These upcoming events have further augmented the demand for the equipment as the respective governments look to aesthetically improve the hosting stadiums for the intended guests and spectators. Based on these factors, the APAC lawn and garden equipment market is anticipated to expand at a CAGR of more than 8% over the forthcoming timeframe.

An upsurge in residential and commercial construction projects across developing nations is likely to drive the global lawn and garden equipment market size through the forthcoming time period. Several economies are currently undergoing considerable lifestyle changes and witnessing a rise in disposable income levels, which is a major factor augmenting market size. Lawn and garden equipment are also widely used across public properties such as sports fields and parks, offering the market immense growth opportunities. The industry would also witness significant growth owing to increasing product adoption across developed economies.

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The global lawn and garden equipment market is likely to exceed a valuation of $45 billion by 2025.

Currently, there are over 38,500 golf courses globally, as per data published by the National Golf Foundation. In addition, many nations are building new golf facilities in a move to increase participation and bring in more revenues. Citing an instance, in 2018, Turkmenistan established Ashgabat Golf Club to mark its entry into golfing countries. With golf courses requiring frequent and heavy maintenance, this trend is set in bring in tremendous growth to the lawn and garden equipment market.

As per the U.S. EPA, approximately 30% of day-to-day water consumption across U.S. is specifically devoted for use in outdoor settings. With several regions across the country experiencing severe droughts, the call for water conservation in increasingly picking up steam. This development, when coupled with the integration of newly introduced technologies such as WaterSense inside spray sprinklers, are likely to foster product adoption further.

With the widespread availability of advanced battery technology, the lawn and garden equipment market is witnessing a tremendous shift towards equipment that run on cleaner fuel sources. The extensive benefits offered by electric lawn tools including cost-efficiency, less noise, eco-friendliness, and easy operation are further promoting this widescale consumer shift, providing a positive growth trajectory to the market.

The golf courses are slated to become significant growth facilitators for the industry due to the in increasing popularity of golf across the world. As the game is becoming more popular, more and more golf courses are being constructed world over. The segment accounted for about one-fourth of the overall revenues in 2018 and is expected to foresee considerable growth owing to its growing popularity.

Geographically, APAC lawn and garden equipment market is anticipated to observe substantial growth due to increasing housing activity and improving economic outlook that is resulting in urbanization. Furthermore, the region is currently witnessing a trend where more number of playgrounds and golf courses are being built, which is likely to create ample product demand.

The sprinklers and hoses segment is anticipated to outline a favorable growth graph for the industry due to their increasing installations in different facilities to facilitate efficient and effective water distribution across the area. Owners of various facilities are actively installing these equipment and tools to reduce the use of water for outdoor purposes.

Today, major industry players are increasingly turning to new growth strategies including acquisitions, investments, collaborations, and new product launches to gain a competitive edge over others in the market. Citing an instance, in October 2019, Honda unveiled its new series of cordless gardening products, which included a small robotic mower as well as a cordless lawn mower.

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The competitive landscape of the global lawn and garden equipment market is inclusive of players such as Kubota, Robert Bosch, Stilh, Husqvarna Group, Deer & Company, TTI, and MTD Holdings among others.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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