Power Lawn and Garden Equipment Market - Global Industry Analysis, Size, Share, Trends, Growth, and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 01/12/2017 -- Global Power Lawn and Garden Equipment Market: Overview
The growth of the global power lawn and garden equipment market is encouraged by the escalating rise in the number of landscaping establishments and the single-family housing stocks. The increasing emphasis on the aesthetic appeal of commercial and residential properties is driving the popularity of landscaping. In addition, various studies suggest that landscaping can boost the value of the property by more than 10%. The power lawn and garden equipment help in maintaining healthy, dense, and high-quality lawns. The demand for these is especially high in residential areas owing to the increasing popularity of gardening as a hobby and profession and the rising focus on providing aesthetic appeal to outdoor spaces.
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The report includes a comprehensive analysis of the development trends pertaining to the global power lawn and garden equipment market. Regional information, data about key players, market dynamics, and key growth observations listed in the report will help the stakeholders in understanding the major and minor shifts in the market.
Global Power Lawn and Garden Equipment Market: Drivers and Restraints
The rising demand for both commercial and consumer grade garden equipment can be attributed to the increasing housing activities such as new construction, renovation, and single family home sales. The growing construction of golf courses and other commercial infrastructure is also fuelling the growth of the market. Moreover, several governments worldwide are promoting the development of landscapes to enhance tourism in their countries, which in turn will augur well for the growth of the global power lawn and garden equipment market. However, the market is restrained by drought conditions and other unfavorable natural calamities. Nevertheless, the sales of these equipment will benefit from ongoing technological innovations such as robotic and battery-powered outdoor lawnmowers.
Global Power Lawn and Garden Equipment Market: Product Segmentation
On the basis of product, the global power lawn and garden equipment market can be segmented into trimmers and edgers, turfs and grounds equipment, lawnmowers, snow throwers, garden tractors and rotary tillers, blowers, vacuums, and sweepers, hedge trimmers, and others. The lawnmowers segment will exhibit a significant growth rate during the forecast period. Sales of lawnmowers will be triggered by the increasing demand for both new and replacement equipment and the expansion in housing stocks. The growing popularity of high-end models such as electric, robotic, self-propulsion, and riding mowers is another factor bolstering the growth of the segment. Turf and grounds equipment will account for a large share during the same period, owing to the rising number of landscaping establishments and the increasing focus of existing firms towards expanding their fleets.
The regional markets methodically examined in this report are Asia Pacific, Europe, North America, and Rest of the World (RoW). North America will be one of the major contributors to the global market for power lawn and garden equipment. The landscaping of outdoor spaces and yards has gained considerable momentum, particularly in the U.S.
Companies Mentioned in the Report:
The global power lawn and garden equipment market has a highly competitive landscape and is dominated by large, international companies. The existing players are introducing energy-efficient electric lawnmowers technologies in emerging countries to create ample growth opportunities in the market. Product/service portfolio diversification and technological innovations are commonly adopted strategies by players to stay relevant in the market. The leading players are expanding their global presence by acquiring regional or local companies.
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Some of the prominent players in the market are Alamo Group Inc., Bad Boy Mowers Inc., Briggs and Stratton Corp., Dana Holding Corporation, Deere & Company, Home Depot Inc., Husqvarna, Kohler Company, MTD, Snow Joe LLC, Textron Inc., Toro Company, and Wal-Mart Stores Inc.