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Shibuya-ku, Tokyo, Japan, Japan, Jul 01, 2022, 07:00 /Comserve / -- The report predicts the Global Lawn and Garden Equipment Market to grow at a healthy CAGR over the forecast period from 2022-2031.
Global Lawn and Garden Equipment Market Research Report - Forecast till 2031
Market Dynamics
According to Market Research Future analysis, the Global Lawn and Garden Equipment Market is evaluated to reach 47 Million units by 2031, witnessing a significant CAGR of 13.04% during the review period. The apparatus used for cutting, trimming, aligning, and maintaining the arrangement and appearance of the greenhouses are referred to as lawn and garden equipment. The global market growth is attributed to the increasing competition among the key competitors, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations worldwide. Further, the market is expected to create many attractive and innovative opportunities for the competitors for the major market players due to their thirst of gaining the highest market share by them.
The global lawn and garden equipment market is anticipated to exhibit substantial market growth during the research period owing to the increasing purchasing power, growing per capita expenditure, changing lifestyles, high economic growth, and urbanization. Besides the technological innovations are set to acquire the largest possible gain over the review period. However, the high-cost garden equipment replacement in the aftermarket is likely to hamper the demand for lawn & garden equipment, which directly affects the working of the lawnmowers and the operators' comfort. Furthermore, the inadequacy of lawn & garden equipment manufacturers in the aftermarket is estimated to enhance the replacement price of the unauthorized players in upcoming years.
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Market Segmentation
The global market for Lawn and Garden Equipment has been categorized into Type, End-Use, and Region.
Depending on the type segment, the global market has been classified into lawn rider, lawn ZTR, walk behind, snow throwers, and trimmers and edgers. The trimmers and edgers segment is expected to register a 12.72% CAGR during the projected timeframe with the largest market share of 50% of share in 2019.
In terms of the end-user segment, the global Lawn and Garden market has been bifurcated into residential and commercial. The residential segment is expected to exhibit the largest market share with a significant CAGR of 13.3% during the review period.
Regional Analysis
Geographically, the report on the lawn and garden equipment market has been studied across five major regions namely North America, Europe, Asia-Pacific, and the rest of the world.
North America is anticipated to register as the largest market owing to the 51.9% of the global market in 2019. The regional market growth is attributed to the growing gardening and landscaping industry and the surge in the adoption of technologically advanced equipment. Additionally, smart gardening enables end-users to make gardening simpler and on-time maintenance. Furthermore, the increase in the number of golf courses and sports courts for basketball, tennis, baseball, and skiing is the major growth driving factor driving the growth of the regional market.
Europe contributes the second largest market for the global lawn and Garden Equipment market followed by Asia-Pacific.
Major Players
The prominent players operating in the global Lawn and Garden Equipment are Toro Company, MTD, Kubota Corporation, Briggs & Stratton Corporation, Husqvarna Group, and Deere & Company.
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