The global gardening equipment market was valued at USD 83.29 billion in 2020 and is expected to grow at a CAGR of 3.9% during the forecast period. Increasing awareness among people to consider gardening as beneficial for health rather than a leisure activity is anticipated to fuel the growth of the 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 battery usage in gardening equipment has resulted in increased flexibility for gardeners. Thus, easy-to-use such tools have fueled the growth of the market.
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By product segment, lawnmowers are anticipated to contribute to the largest market share attributed to their high usage by homeowners in developed countries such as U.S., 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 the Asia Pacific and Latin America has boosted the use of green spaces and public parks. This has increased the need to maintain gardens and landscapes thus, propelling the demand for this equipment.
The major market share is held by North America whereas, the Asia Pacific region is projected to witness noteworthy growth during the forecast period. The growth in the Asia Pacific is highly driven by the increasing construction and infrastructure sector of the developing economies in the region.
Infrastructure includes the construction of gardens, shopping malls, etc. Furthermore, the residential construction of the region is also blooming coupled with the 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 market 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 a few companies hold a large share.