Freedonia Group: Strong Growth Opportunities Expected for Global Power & Lawn Garden Equipment Markets

News provided by

Sep 24, 2019, 13:19 ET

CLEVELAND, Sept. 24, 2019 /PRNewswire/ -- The US and Western Europe will continue to drive expansion in the global power lawn and garden equipment market, which is forecast to grow 2.6% through 2023 to $26.4 billion. Among the strongest growth opportunities in these highly developed regional markets will be:

aging populations boosting demand for commercial landscaping services, which tend to make intensive use of high-value products
consumers increasingly adopting novel products, particularly robotic mowers, as smart home systems extend to the outdoors
a large and growing number of professional and amateur athletic fields and landscaped parks requiring maintenance by power equipment, including many high-end types

Battery-powered equipment to increase market share over alternative types worldwide

Advances in battery technology will drive the robust growth anticipated for battery-powered lawn and garden equipment through 2023. In particular:

Improvements in power and run times will expand the scope of applications for battery-powered equipment, enabling increased penetration in commercial markets.
Falling costs for batteries will make these products more cost-competitive in residential and commercial segments alike.

In addition, sales will be boosted by rising penetration of robotic mowers, which typically run on battery power.

Will robotic mowers catch on across the pond?

While robotic mowers are abundant in Western Europe – supported by the small average residential yard sizes characteristic of the region – their prospects in the US remain contingent on the ability of brand owners to successfully market these products.

For example, the rising popularity of smart home devices with US consumers could create opportunities to position robotic mowers as an essential component of the smart home ecosystem, particularly as market leaders such as Deere and Stanley Black & Decker continue to integrate smart technologies with their physical product lines.

Looking for more?

Global Power Lawn & Garden Equipment, a new study from The Freedonia Group, analyzes the global power lawn and garden equipment industry, 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 selected 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, Toro, and others.

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
[email protected]

SOURCE The Freedonia Group