The global Gardening Equipment Market size is expected to reach USD 102.3 billion by 2025, according to a new report by Grand View Research, Inc. Mounting investments in the novel gardening tools to replace the old equipment is expected to be a major factor spurring market growth. The rising housing activity capacity to meet the ever-growing population’s demand is estimated to act as a key driver augmenting growth. Never the less, the seasonal variation witnessed by the manufacturers is estimated to challenge the industry over the near future.
The
global gardening equipment market is anticipated to witness high growth over
the forecast period. This may be accredited to the advent of technologically
advanced products such as battery-powered hand tools and robotic lawnmowers.
Further, remote-controlled and GPS-equipped lawnmowers are expected to gain
traction in the near future, thereby spurring equipment sales. The rising
espousal of gardening as a hobby is expected to further catapult equipment
market growth over the next nine years.
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Gardening Equipment Market Report Highlights
- The
lawnmowers segment captured over 30% of the total revenue in 2015 and is
projected to exhibit a significant growth at a CAGR of over 4.0% from 2016
to 2025, which is attributed to their extensive usage in the commercial
complexes such as shopping centers, hospitals, churches, and public parks.
- On account
of the wide scope of purposes gardening equipment serve in trimming,
cutting, and shaping the plants & shrubs at the residential complexes,
the residential segment is expected to gain prominence over the forecast
period with an estimated CAGR exceeding2.0%.
- Asia Pacific
emerged as the fastest-growing market and is expected to grow at a healthy
compound annual growth rate of over 3.0%, which is primarily due to the
improved social lifestyle of the escalating base of wealthy middle-class
population in the region.
- The key
purveyors in this industry comprise Deere & Company, Toro, Bosch Power
Tools, MTD Products, Honda and Husqvarna Group, as the international
players hold a strong foothold in the market making it difficult for the
local suppliers to compete.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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