Owing to the intense competition, several players all over the world, have settled themselves in the global power lawn and garden equipment market. The major players are working upon developing more efficient and energy-saving electric lawnmowers, with the help of newer technologies. They are also indulging in product differentiation and in improving the product portfolio in the entire market to gain an edge over their competitors. Some of the key strategies they are involvement in mergers and acquisitions and collaborations to maintain their position in the market. KG, ANDREAS STIHL AG & Co., BLACK+DECKER Inc., Deere & Company, Briggs & Stratton, ECO INCORPORATED, Kohler Co., Husqvarna AB, Makita Corporation, Snow Joe LLC, MTD Products Incorporated, Toro Company, and Textron Incorporated are among the major players leading in the global power lawn and garden equipment market.
As per a recent report by Transparency Market Research (TMR), the global power lawn and garden equipment market is likely to expand at a steady CAGR of 4.8% during the forecast period from 2017 and 2025. The market is expected to gain a worth of around US$96,832.1 mn by the end of forecast period, 2025.
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Lawnmower to Lead Global Market Due to Rising Demand in Commercial Sector
On the basis of equipment type, the power lawn and garden equipment market is categorized into trimmer and edger, lawnmower, snow thrower/blower, blower, rotary tiller, sweeper, vacuum, and so on. Out of these, in 2016, lawnmowers held the major share of the global power lawn and garden equipment market, owing to its surging demand in commercial industry. Geographically, in 2015, North America, accounted for the major share of over 50% of the global power lawn and garden equipment market. Rise in disposable income which results in more indulges in outdoor living and garden parties are among the important factors behind the growth of the market.
The power lawn and garden equipment market is highly supported by a large group of social and financial factors, for example, trend of urbanization, achieving confidence of the customers, re-emergence of home renovating activities, and appropriate demographic profiles. This situation alongside a developing base of DIY gardeners is bringing about soaring demand for power lawn and garden equipment. Moreover, the rising enthusiasm of elderly people and retired baby boomers in gardening as a leisure activity is additionally adding to the development of power lawn and garden equipment market globally.
Besides, the growing interest for open air living, which incorporates garden parties and backyard cooking is fueling the demand for garden equipment. In addition, the rising demand for coordinated abilities is foreseen to show significant scope for the development as well, in the market in the coming years.