Gardening Equipment Market Size (2022 – 2027)
The Gardening Equipment Market was worth US$ 30.84 billion in 2021 and is projected to reach the valuation of US$ 50.47 billion by 2027 and is predicted to register a CAGR of 7.1% from 2022-to 2027.
The tools that are utilised in the garden are referred to as gardening equipment. A garden tool is any of the various tools created for gardens and gardening, which overlap with a variety of agricultural and horticultural instruments. Both home gardeners and commercial landscapers employ lawnmowers, hand tools, power tools, trimmers, edgers, and other lawn and garden equipment. The growing demand for technologically advanced and automated gardening equipment for both personal and commercial usage is one of the important factors driving the industry's growth. Increasing the use of gardening equipment to save time, energy, and money is predicted to drive market growth in the next few years.
Automated weed management systems are increasingly being used in commercial settings such as public parks, golf courses, and sports grounds. Additionally, the demand for automatic water sprinklers is growing, resulting in a significant growth in water management system demand. Gardening equipment demand is projected to rise as a result of this cause. In addition, current trends such as organic gardening, small-space gardening, and urban farming are likely to drive the Gardening Equipment Market forward.
MARKET GROWTH
Increased demand for ergonomic tools developed for lawns and gardens, as well as the growing geriatric population, might be attributed to the market's rise. In addition, in 2021, growth in disposable income combined with cheaper housing rates has increased the number of real-estate developments in many economies. Furthermore, increased millennial interest in transforming outdoor spaces into relaxing places, such as lounges, entertainment, outdoor kitchens, and so on, has been recognised as one of the market's emerging trends.
MARKET DRIVERS
Growing demand for gardening equipment in commercial settings such as sports fields, golf courses, and the construction industry is driving the global Gardening Equipment Market. The usage of gardening equipment is predicted to increase as the number of public parks in urban areas grows, as well as government laws governing their management. The growing popularity of vertical gardening and more gardening in residential complexes as a result of rising environmental awareness are also propelling the global market forward.
Furthermore, the growing adoption of technologically advanced gardening equipment that saves time, money, and energy is expected to boost the worldwide Gardening Equipment Market ahead. The introduction of ergonomically designed sophisticated technology garden equipment at a reasonable cost might generate considerable income opportunities for firms in the target market.
Gardening Instruments The prominence of garden spaces and government rules on garden management are fueling market expansion in this region. The Asia Pacific market is expected to grow at the fastest rate in terms of revenue in the global market throughout the projected period, owing to changing lifestyles and increased disposable income among individuals. Increased consumer understanding of garden maintenance, as well as expanding public parks in both urban and rural areas, are likely to propel the target market forward in the near future.
MARKET RESTRAINTS
Several factors have been identified as potential roadblocks to the expansion of gardening equipment demand. In the projection period of 2022-2027, high maintenance costs of electric gardening tools, wear and tear, replacement of moving components, and raw material price fluctuations are projected to stymie market growth to some extent.
Market Segmentation
Gardening Equipment Market - By Product:
The market is divided into Hand Tools, Lawnmowers, Trimmers & Edgers, Water management Equipment, and Others based on product. The gardening supplies industry is quite enticing, and it is a well-established industry with steady growth. The lawnmowers product segment is predicted to be the largest and fastest-growing during the forecast period. This is due to the widespread use of lawnmowers for grass and garden maintenance in backyards, public parks, and sports fields. Hand tools are divided into three subcategories: hoe, weeder, shears & snips. Repeat purchases of these items are expected to drive the expansion of the hand tools segment.
Gardening Equipment Market - By Sales Channel:
Home centres, lawn & garden speciality stores, national retailers & discount stores, hardware stores, and e-commerce have been classified as sales channels for the market. The majority of sales are generated by OEMs through these third-party channels. Due to the temporary closure of hardware and home centre stores as a result of the COVID-19 outbreak, the third-party channels segment saw a modest drop in sales. During the projected period, the home centre segment is expected to grow at a CAGR of 6.2 per cent.
The e-commerce channel, which accounted for 15% of global market revenue in 2021, is included in the direct channel. Over the projection period, it is expected to increase at the fastest rate. Manufacturers' rising propensity toward e-commerce platforms to boost their market presence and conduct commercial operations seamlessly is likely to benefit market expansion throughout the forecast period.
Gardening Equipment Market - By Application:
The market is divided into two categories based on application: residential and commercial. The progressive integration of information technology and operational technology, as well as the creation of business systems for managing real-time transaction processing, are all showing signs of improvement. Innovators are offering building blocks built expressly for achieving the goal of 'connected enterprise.' The fast spread of technologies and concepts linked with the Internet of Things provides new intelligent nodes that operate at the network edge to improve the efficiency and performance of manufacturing processes.
Gardening Equipment Market - By Region:
During the projected period, North America is expected to lead the market. The United States is the region's driving force, accounting for more than 25% of the global market in 2021. Over the projected period, the growing demand for portable and lightweight battery-powered equipment for backyard beautification is expected to fuel market expansion. During the projected period, an increase in need for battery-operated tools is also expected to boost market expansion.
Due to rising people's standards of life and the ready availability of labour at a reduced cost, the Asia-Pacific region is expected to grow at the fastest rate.
During the predicted period, Europe is expected to grow at a rate of 5.7 per cent. Increased construction spending in European countries is credited with the market's rise. France and Spain are two significant markets that were severely impacted by COVID-19, although Germany fared better since construction projects were largely unaffected by the shutdown. The UK, Ireland, and southern Europe were less affected than Germany, Switzerland, Austria, and the Nordic countries. The high GDP suggests that the construction sector in the nations is in good shape, which leads to more increased home investment and a beneficial impact on the European market.
Latin America, the Middle East, and Africa are projected to offer growth prospects towards the end of the forecast period as disposable income rises and the construction industry improves.
Gardening Equipment Market Key Players:
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