Global Lawn and Garden Equipment Market in terms of volume is estimated to reach USD 47 Million units by 2026, registering a 13.04% CAGR during the forecast period.
The report covers segmentation and market dynamics for a better glimpse of the market in the coming years. Lawn and Garden Equipment Market are garden tools used for cutting, trimming, aligning, and maintaining the structure of the lawns and gardens. With advancements in science and technology, materials such as aluminum, steel, and iron have been used to develop several types of lawn & garden equipment such as lawnmower, snow throwers, trimmers, and walk-behind mowers.
Based on region, the report on the global lawn and garden equipment market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The demand for gardening is moderate all-over the world. However, the impact of rising technological advancement is expected to shift from moderate to high over the forecast period. This is attributed to the rising purchasing power, increasing individual income, changing lifestyles, economic growth and urbanization.
Global Market for Lawn and Garden Equipment Market Analysis has been segmented based on Type and End Use.
Based on type, the global market has been segmented into lawn rider, lawn ZTR, walk behind, snow throwers, and trimmers and edgers. In 2019, the trimmers and edgers segment accounted for the largest market share of 50%, with a market shipment of 16 million. It is projected to register a 12.72% CAGR during the projected timeframe.
Based on the End Use, the global market has been segmented into residential and commercial. In 2019, the residential segment accounted for the largest market share of 73%, with a market value of USD 17,926 million. It is projected to register a 13.36% CAGR over the forecast period.
The global lawn and garden equipment market is characterized by the presence of many local, regional, and global vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services. Vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.
The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. The Toro Company, MTD, Kubota Corporation, Briggs & Stratton Corporation, Husqvarna Group, and Deere & Company are a few of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology and consider product development as their key growth strategy in the global lawn and garden equipment market. Although the international players dominate the market, regional and local players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period.
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