Freedonia Group: Residential vs. Commercial Global Power Lawn & Garden Equipment Markets

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Nov 22, 2019, 10:17 ET

CLEVELAND, Nov. 22, 2019 /PRNewswire/ -- While more than half of the $23 billion global power lawn and garden equipment market is accounted for by residential applications, residential demand is heavily concentrated in affluent markets such as the US. In low-income markets, commercial applications tend to be the larger driver of sales.

What trends are driving the most important global power lawn and garden equipment markets? A new Freedonia Group analysis provides expert insight.

High Incomes & Cultural Interest in DIY Lawn Care Support Residential Sales

Global demand growth for residential power lawn and garden equipment through 2023 will be concentrated in the US, Canada, and Western Europe, where high income levels combine with cultural interest in DIY lawn care to support high residential sales. For example, big-ticket robotic and smart products have higher penetration in these areas.

In the leading US market, however, the strongest driver of future sales is expected to be commercial landscaping as the local population continues to age and increase their reliance on lawn care services.

Rising Incomes & Tourism to Benefit Commercial Sales in Some Developing Areas

In lower income countries, growth in the size of the middle- and upper-class populations will provide opportunities for power equipment sales to commercial landscapers as economies continue to develop:

Growth in building construction and rising standards of living will contribute to increased spending on power lawn and garden equipment.
Continued advances in golf tourism will provide opportunities in Central and South America and the Asia/Pacific and Africa/Mideast regions.

Cultural Factors Can Affect Penetration in Affluent Markets

Whereas large residential lot sizes and a strong DIY lawn care culture promote sales in the US, the opposite is the case in some similarly affluent countries due to cultural factors. For example:

In Japan – where a larger share of the population resides in multifamily housing relative to other high-income markets – residential need for power lawn and garden equipment is lower, as fewer households in general have reason to purchase these items.
In addition, as Japanese single-family homes are on average much smaller than those in the US, these residences have limited space to store power lawn and garden equipment, which supports a higher market share for commercial sales.

Looking for more?

Global Power Lawn & Garden Equipment, a new study from The Freedonia Group, analyzes the global power lawn and garden equipment market, presenting historical demand data (2008, 2013, and 2018) and forecasts for 2023 by product group (lawn mowers, turf & ground mowers, chainsaws, trimmers & edgers, other power lawn & garden equipment, parts & attachments), product type (engine-driven, battery-powered, corded electric), market (residential, commercial), global region (North America, Central & South America, Western Europe, Eastern Europe, Asia/Pacific, Africa/Mideast), and major national market. International trade and pricing data are also included. In addition, the study provides market share and analyzes key global industry participants, such as Deere, Husqvarna, MTD Products, and Toro.

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
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SOURCE The Freedonia Group