NEW YORK, Dec. 22, 2021 /PRNewswire/ -- Garden and Lawn Tools Market Facts at a Glance-
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According to the recent market study by Technavio, the Garden and Lawn Tools Market Size is expected to increase by USD 3.42 billion from 2020 to 2025, with an accelerated CAGR of 2.85%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth, occupying 51% of the global market share. The US is the key market for garden and lawn tools in North America. However, the market growth in this region will be slower than the growth of the market in APAC, MEA, and South America.
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Vendor Insights-
The garden and lawn tools market is fragmented and is characterized by the presence of several large, small, and medium-sized manufacturers. Vendors in the market are competing in terms of price, quality, technology, brand identity, and distribution. The market is also witnessing an increase in the number of new players, which is increasing the competition. Some vendors are focusing on forming strategic alliances and acquiring small vendors to expand their presence and enter new markets.
Honda Motor Co. Ltd.: In June 2021, the company announced a partnership with Komatsu for the development of micro excavators powered by swappable batteries. The company offers different types of garden and lawn tools such as lawn tractors, lawnmowers, and others.
Robert Bosch GmbH: In February 2021, the company announced a partnership with Microsoft to develop a vehicle software platform that seamlessly connects vehicles and the cloud. The company offers different types of garden and lawn tools such as Hedgecutters, Shredders, Chainsaws, and others.
Stanley Black & Decker Inc.: The company offers different types of garden and lawn tools such as digging tools, pruners, loppers, shears, and others.
The Toro Co.: In February 2021, the company announced a partnership with TURFLYNX for autonomous, alternate energy, and smart-connected products. The company offers different types of garden and lawn tools including sprinklers, riding lawn mowers, landscape drip, and others.
ANDREAS STIHL AG & Co. KG: The company offers different types of garden and lawn tools such as chainsaws, garden shredders, tillers, and others.
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Regional Market Outlook
The garden and lawn tools market growth in North America will be significant during the forecast period. The increasing popularity of gardening is increasing among consumers in the US. Also, the percentage of people that grow food in homes or community gardens is increasing in the US. In addition, the proliferation of golf courses is expected to drive significant demand for garden and lawn tools in North America during the forecast period.
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Latest Drivers & Trends Driving the Market-
Vendors in the market are focusing on expanding their market presence and generating revenue by introducing new innovative products. For instance, in February 2021, The Toro Company introduced its new trailer, TransPro 200, for lawn mowers used in golf course greens. Similarly, in January 2020, Cub Cadet, one of the brands of MTD products, introduced IntelliPower. The product gives lawn equipment the ability to tackle heavy, wet grass better without bogging or slowing it down. Such developments among consumers will foster market growth during the forecast period.
The concept of smart gardening is gaining prominence among consumers as it provides them weather-related data and timely alerts regarding watering and nutrient addition to plants. The adoption of smart marketing is making gardening simpler, reducing maintenance costs, and minimizing manual intervention. The growing adoption of the concept is encouraging vendors in the market to introduce a wide range of innovative products backed with smart technologies. This trend will have a positive impact on the growth of the market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
Related Reports:
Garden and Lawn Tools Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.85% |
Market growth 2021-2025 |
USD 3.42 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.17 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 51% |
Key consumer countries |
US, Germany, France, UK, and China |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ANDREAS STIHL AG & Co. KG, Emak Group, Honda Motor Co. Ltd., Husqvarna AB, Koki Holdings Co. Ltd., Makita USA Inc., MTD Products Inc., Robert Bosch GmbH, Stanley Black and Decker Inc., and The Toro Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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