Lawn & Garden Equipment Market Poised to Grow at a Robust Pace Due to Increasing Demand for Landscaping Services

 
Lawn & Garden Equipment

The global lawn & garden equipment market provides essential landscaping equipment that consists of lawnmowers, lawn tractors, trimmers, pruning, hedging & chainsaws. These products help maintain landscapes of residential and commercial properties effectively. The growing urbanization and increasing disposable incomes have led to greater spending on lawn care and landscaping services. Additionally, an enhanced sense of outdoor aesthetics among homeowners has been driving the sales of lawn care equipment.


Key players operating in the lawn & garden equipment market include Pfizer, Roche, Johnson & Johnson, Novartis, Merck & Co, GlaxoSmithKline, Sanofi, AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Teva Pharmaceutical, Bayer, Novo Nordisk, Allergan, Gilead Sciences, Boehringer Ingelheim, Takeda Pharmaceutical, and Biogen. These companies offer a diverse range of landscaping tools and machinery to cater to both residential and professional landscaping needs.

The Global lawn & garden equipment market is estimated to be valued at US$ 33.97 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players: Key players operating in Global Lawn and garden equipment Market Demand focus on product launches and strategic collaborations to expand their market share. For instance, in 2021, Husqvarna partnered with Greengo Lawn Care to launch robotic lawn mowers.

Key opportunities: Rising participation in outdoor activities presents significant opportunities for players in the lawn care equipment market. Additionally, the professional landscaping industry is expected to witness strong growth fueled by increased spending on commercial and public landscape maintenance projects.

Global expansion: Leading lawn equipment brands are expanding their presence across international markets through partnerships with regional dealers and distributors. For example, in 2022, STIGA acquired a majority stake in Italian corporation Sabartek to strengthen its position in the European market.

Market drivers: Increasing spending on outdoor backyard enhancements and landscaping services are major market drivers. The rising popularity of smart and robotic landscaping tools is also propelling the industry's growth.

Market restraints: High initial investment requirements for professional landscaping machinery and the growing adoption of artificial or synthetic grass could hamper market growth to some extent over the forecast period.

Segment Analysis
The lawn & garden equipment market is dominated by the residential segment. The segment accounts for over 60% share of the overall market owing to the increased usage of lawn care equipment like lawn mowers, leaf blowers by homeowners and individual consumers for landscaping purposes. The growing popularity of outdoor activities such as gardening and lawn care especially during the pandemic has been a major driver for the residential segment.

The commercial segment is the next largest and comprises usage of heavy duty equipment by landscaping professionals, golf courses, municipalities and other industrial users. Landscaping services have been witnessing steady demand from real estate industry for aesthetic outdoor spaces in residential complexes and office properties. The segment growth is expected to remain robust over the forecast period due to expansion of commercial infrastructure and construction activity.

Global Analysis

The North America region currently holds the largest share in the global lawn & garden equipment market owing to high consumer spending on outdoor equipment and services. The USA accounts for over 40% of North America market supported by strong presence of major players and suppliers in the region. The Asia Pacific region is expected to witness the fastest growth during the forecast period led by rapidly developing nations like India and China. Rising disposable incomes, changing consumer lifestyles and growth in housing sector are increasing the need for professionally maintained lawns and gardens in the region. The European region is another major regional market led by Germany, the UK and France. Stringent emissions norms have caused shift towards electric variants to drive long term growth across regional markets in Europe.

Get more insights on this topic: Lawn & Garden Equipment Market

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