LONDON–(Business Wire)–The “Garden and Lawn Tools Market by Product, End-user, Distribution Channel, and Geography – Forecast and Analysis 2020-2024” report has been added to Technavio’s offering.
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Technavio has announced its latest market research report titled Global Garden and Lawn Tools Market 2020-2024 (Graphic: Business Wire)
The garden and lawn tools market is poised to grow by USD 2.91 billion during 2020-2024 progressing at a CAGR of over 2% during the forecast period. Get FREE Sample Report in Minutes!
With the advent of advanced technologies, smart devices are being used for gardening activities as well. Smart gardening provides end-users with weather-related data and timely alerts regarding watering and nutrient addition to plants. The adoption of smart gardening will make gardening simpler, ensure on-time maintenance, and minimize manual intervention. To cater to the rising demand for smart gardening, market vendors are offering various innovative tools that can be used for smart gardening. For instance, Terra robot lawnmower, launched by iRobot Corp. (iRobot), can be connected and operated through the iRobot’s HOME App. Thus, the rising demand for smart gardening will be one of the critical garden and lawn tools market trends over the forecast period. The trend is expected to contribute to the garden and lawn tools market growth during the next five years.
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COVID-19 is expected to have a Negative and Indirect impact on the Consumer Discretionary industry. Even if the spread of the virus is contained, we expect that it may take more than two quarters (six months) to reach a normal state of economic activity. In the short term, the market demand will show Inferior growth.
53% of the market’s growth will originate from North America during the forecast period. The US is a key market for garden and lawn tools in North America. Market growth in this region will be faster than the growth of the market in Europe.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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The garden and lawn tools market is segmented by product (lawnmowers, power tools, hand tools, and garden accessories), end-user (residential and commercial), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America).
Lawnmowers are the most widely adopted garden and lawn tools globally. Lawnmowers are available in various sizes for both small- and large-sized lawns. Vendors in the market are focusing on developing self-propelled versions of lawnmowers, with front-wheel drive and rear-wheel drive options. Many vendors in the market are focusing on launching innovative lawnmowers with improved levels of automation. Such innovations can increase the sales of lawnmowers and drive the growth of the segment during the forecast period. Market growth in this segment will be faster than the growth of the market in the hand tools and garden accessories segment.
ANDREAS STIHL AG & Co. KG, Emak Group, Honda Motor Co. Ltd., Husqvarna AB, Koki Holdings Co. Ltd., Makita Corp., MTD Products Inc., Robert Bosch GmbH, Stanley Black & Decker Inc., and The Toro Co. are among leading companies in the garden and lawn tools market.
The garden and lawn tools market is fragmented with the presence of numerous large, small, and medium-sized manufacturers. Most of the large and established players have extensive sales and distribution networks globally, whereas most small players are concentrated in the regional markets.
Key Market Dynamics:
Market Driver
- Increasing number of product launches
- Presence of government initiatives that promote gardening
- Increase in landscaping services
Market Challenges
- Rising preference for pre-used and rented garden and lawn tools
- Potential hazards associated with garden and lawn tools
-
Rising demand for artificial grass
Companies Mentioned
- ANDREAS STIHL AG & Co. KG
- Emak Group
- Honda Motor Co. Ltd.
- Husqvarna AB
- Koki Holdings Co. Ltd.
- Makita Corp.
- MTD Products Inc.
- Robert Bosch GmbH
- Stanley Black & Decker Inc.
-
The Toro Co.
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Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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