Region - North America, Europe, Latin America, APAC, MEA;
New York, NY -- (SBWIRE) -- 05/09/2018 -- Persistence Market Research (PMR) has published a novel research report on gardening and agricultural equipment. The report has been titled, "Gardening & Agriculture Equipment Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2026."
Initially, the market for gardening and agriculture equipment was more focused towards manual equipment and tools in order to perform numerous tasks but with the advancement of technological landscape the market has developed and generated several opportunities for the equipment manufacturers which consists of tier-1 as well as small players operating in global and regional markets.
In order to retain their positions in the market, the players are entering into collaboration with the core market stakeholders in order to operate manufacturing facilities efficiently. Innovating the current technology and the optimization of new technology has become the need of the hour for the players in the market for the production of gardening and agriculture equipment.
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For instance, in 2017, Husqvarna Group signed an agreement to acquire the Floor Grinding Solutions Division of HTC Group AB (grinding solution). This acquisition would help company to strengthen its construction business. The players operating in the market are Honda Motor Co., Ltd, Andreas Stihl AG & Co. KG, Briggs & Stratton Corporation, Ohashi Inc., EMB MFG Inc., and Mahindra & Mahindra Limited, among others.
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According to the report, the global gardening and agriculture equipment market is projected to exhibit a CAGR of 4.8% from 2018 to 2026. The market is expected to touch US$ 51,314.6 Mn by the end of 2026 rising from a valuation of US$ 33,858.2 Mn in 2017.
Rising Green Space Initiatives to Boost Demand for Gardening and Agriculture Equipment
As environmental concerns are growing and diet-related problems area increasing, governments and development partners are extensively promoting school gardening. About 12,000 schools and other educational institutions have signed up to grow school gardens. Gardening has also been added to school curriculums with an aim to promote gardening as an activity.
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The RHS campaign in Europe provides support and encourages institutions to promote school gardening. Institutes, such as Cambridge Primary, and Milford Pre-School, among others, have registered for school gardening campaigns and companies, such as Fisker Inc., Husqvarna Group and others, are developing gardening tools especially designed for children.
Moreover, the trend of urban green spaces is also supporting the growth of the market. Urban green spaces are those spaces in the city which are covered by vegetation or other soft and permeable surfaces. The interest in urban and green spaces seems to be rising and many cities are giving trials to innovative ways to introduce urban greenery into the cities. Cities are generating greener spaces to create more calm and environment-friendly places.
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Sport turfs and Synthetic Grass to Act as Roadblock
The utilization of artificial turfs has moved rapidly beyond sports fields to commercial and residential landscaping. Use of synthetic grass and sports turfs is increasing as these require lower maintenance. Apart from that, they are also environment-friendly as they require less water.
Synthetic grass and sports turfs are employed in indoor as well as outdoor residential and public gardens, play areas as well as airports as they add to the aesthetic appeal and give a natural look to the space where they are used and also have low maintenance cost. Hereafter, they are being preferred by end users over natural grass. Nevertheless, this, in turn, would lead to a decline in the growth of the gardening tools market.