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Turf Care Equipment Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The turf care equipment market size is expected to see strong growth in the next few years. It will grow to $20.20 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%” - The Business Research Company
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The global turf care equipment market is projected to reach $13.92 billion in 2024, up from $12.69 billion in 2023, at a compound annual growth rate CAGR of 9.6% as per the "Turf Care Equipment Global Market Report 2024". This prominent surge can be largely attributed to the increase in the number of golf courses, limitations of playing grounds, rising demand for DIY landscaping projects, growth in commercial lawn and sports facilities, and growing popularity among people for golf.
What is the Projected Growth Rate and Market Size of the Global Turf Care Equipment Market?
The global market for turf care equipment is expected to witness strong growth in the near future. As per projections, it will rise to an impressive $20.20 billion by 2028 at a CAGR of 9.8%. The growth can chiefly be attributed to factors such as increasing construction activities, an upswing in outside garden or lawn parties, growing public encouragement for sports, a rise in the number of luxury hotels and resorts, and the growing popularity of battery-operated ergonomic design tools.
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What Are the Key Trends Influencing the Turf Care Equipment Market?
With the continuous evolution of technology, various trends are expected to shape the turf care equipment market. These include technological development, innovative products, the development of commercial turf equipment, effective product development, and lawnmowers with machine-to-machine communication capabilities.
What Are the Major Drivers of the Global Turf Care Equipment Market?
A key driving force for the growth of the turf care equipment market is the escalating popularity of golf, seeing a rise due to its appeal as a socially distant outdoor activity that promotes wellness and provides a leisurely yet competitive experience. Golf relies heavily on turf care equipment for maintaining the optimal condition of fairways, greens, and roughs, and enhancing the overall golfing experience. The National Golf Course Owners Association Canada reported a 2.2% increase in rounds played in 2023 compared to 2022, maintaining a significant 23.9% above pre-pandemic levels.
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Who Are the Top Industry Players Driving the Growth of the Turf Care Equipment Market?
Major companies operating within this fast-paced market include Deere & Company, Kubota Corporation, BLACK+DECKER Inc., Textron Inc., Husqvarna AB, The Toro Company, MTD Products Inc., Briggs & Stratton Corporation, Honda Power Equipment, Ventrac, Schiller Grounds Care Inc., Smithco Inc., Brinly-Hardy Company, Redexim North America Inc., Salsco Inc., Turfco Manufacturing Inc., Scag Power Equipment, Greenman Golf & Turf Solutions, Spraying Devices Inc., Protea Turf Equipment CC, Tru-Turf Pty Ltd, TurfTime Equipment.
What are the Key Growth Opportunities in the Turf Care Equipment Market?
A noteworthy trend observed amongst the major players is the focus on developing technologically advanced solutions, such as residential and commercial lawn care equipment, to enhance precision, efficiency, and user convenience. For instance, The Toro Company, a US-based lawn mower manufacturer, recently unveiled a series of innovative residential lawn care products, emphasizing their commitment to innovation in outdoor maintenance solutions.
How is the Global Turf Care Equipment Market Segmented?
The turf care equipment market is segmented by:
1 Equipment Type: Turf Sprayers, Mowers, Turf Tractors, Aerators, Utility Vehicles, Other Equipment Types
2 By Fuel: Gasoline, Diesel, Other Fuel
3 By End Use: Commercial Lawn And Turf, Sports Lawn And Turf, Golf Turf, Other Turf
Regional Insights into the Turf Care Equipment Market
North America held the upper hand as the largest region in the turf care equipment market in 2023. Moreover, other regions extensively covered in this report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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