The Global Gardening Equipment market is estimated to be $235 billion in 2014 and is expected to reach $409 billion by 2022 growing at a CAGR of 7.17% from 2014 to 2022. Increasing perception about gardening being a leisure activity beneficial for health as well as environment is expected to play a crucial role in the gardening equipment market growth. Some of the key drivers of the market include changing consumer lifestyle, rising annual incomes, expansion of modern homes and usage of gardens for hosting parties. However factors such as increase in backyard cooking are the opportunities for market growth. The usage of lithium-ion batteries in gardening equipment has increased gardeners flexibility driven by the easy portability of cordless tools.
Lawnmowers will continue to account for the biggest portion of sales among all product groups, owing primarily to the large number of homeowners that possess and maintain their own lawns in the US, Canada and Western Europe. Turf and grounds equipment is expected to witness the fastest market growth driven by recoveries in the professional landscaping industries in many developed nations. Development of mobile gardening apps across several platforms including iOS, Android, and Windows is expected to generate significant interest among people, thereby driving the gardening equipment market growth. Moreover, a continuing trend towards urbanization of developing nations, including those in Asia and South America, will boost the use of public parks and other green spaces, increasing maintenance needs and bolstering demand for related equipment.
North America and Europe constitute for the major gardening equipment usage regions, mainly due to the presence of adequate garden space and stringent regulations pertaining to garden maintenance. The demand for hand tools in Asia Pacific is expected to upsurge during the forecast period. Government funding and positive response from private firms for development of landscapes is expected to double the growth rate of this market. The US, Canada and Western Europe will continue to account for the vast majority of the world demand. Additionally, countries such as Canada, the United Kingdom, and the U.S. have strong residential lawn and garden care cultures, and the lion’s shares of golf courses worldwide are located in these three nations.
Gardening Equipment market is segmented by product, by type and by geography. Depending on the various products, market is classified as blowers, vacuums and sweepers, garden tractors and rotary tillers, hedge trimmers or brush cutters, lawnmowers, snow throwers, turf and grounds equipment. Based on type, the market is categorized as hand tools, powered tools, mowers and water management systems. Based on geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
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The key players in the Gardening Equipment market include BayWa AG, Castorama, Daiya Tsusho Co. Ltd., Home Retail Group PLC, Kingfisher PLC, Honda Motor Company Limited, Deere & Company, The Ace Hardware Corp., The Home Depot Inc., and Wesfarmers Ltd.
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