The global market size for gardening equipment market is estimated to be USD 81.3 billion in 2017 and is estimated to grow at a CAGR of 4.1% during the forecast period. Increasing awareness among people to consider gardening as beneficial for heath rather than a leisure activity, is anticipated to fuel the growth of gardening equipment market.
Also, changing consumer lifestyle, expansion of modern houses, as well as increasing disposable income of the population globally are some of the major factors propelling the market growth. Furthermore, lithium-ion batteries usage in gardening equipment has resulted in increased flexibility for gardeners. Thus, ease-to-use such equipment has fueled the growth of the market.
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By product type segment, lawnmowers are anticipated to contribute to the largest marker share attributed to its high usage by homeowners in developed countries such as US, Canada, and other countries in Western Europe, to maintain their garden areas. Further, the use of gardening equipment to maintain turf and grounds is also expected to highly contribute to the market growth. Additionally, the development of several mobile gardening apps across platforms such as iOS, windows, and Android, has further resulted in increasing interests of people towards gardening. Additionally, increasing urbanization in developing nations of Asia Pacific and Latin America has boost the use of green spaces and public parks. This has increased the need to maintain gardens and landscapes thus, propelling the demand for these equipment.
The major market share is held by North America whereas, Asia Pacific region is projected to witness a noteworthy growth during the forecast period. The growth in Asia Pacific is highly driven by increasing construction and infrastructure sector of the developing economies in the region. Infrastructure includes construction of gardens, shopping malls etc. Further, the residential construction of the region is also blooming coupled with rising living standards of the people residing in these economies. This is also anticipated to bolster the market growth.
Some of the major players operating in the gardening equipment include Briggs & Stratton, Ariens Company, Honda Power Equipment, Deere & Company, Falcon Garden Tools, Husqvarna Group, Robert Bosch GmbH, Fiskars Corporation, Toro and Robomow-Friendly robotics among others. The market for gardening equipment is fragmented and only few companies holds a large share.