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Lawn & Garden Equipment Market is Anticipated to Witness High Growth Owing to Increased Consumer Spending on Home Improvement

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Vedant B
Lawn & Garden Equipment Market is Anticipated to Witness High Growth Owing to Increased Consumer Spending on Home Improvement

The lawn and garden equipment market includes numerous products that aid in landscape maintenance, gardening, and other landscaping activities. Power lawn mowers, lawnmowers, trimmers, and edgers are widely used to cut, edge, and trim grass. Power tools like chainsaws, trimmers, blowers, tillers, and cultivators are commonly employed for tree and hedge trimming, leaf blowing, tilling, and gardening. These equipment have advantages such as ease of use, high efficiency, and precision. The need for Lawn & Garden Equipment Market has risen considerably in recent years due to growing consumer spending on home and garden beautification. The Global lawn & garden equipment market is estimated to be valued at US$ 33.97 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the lawn & garden equipment are Pfizer, Roche, Johnson & Johnson, Novartis, Merck & Co, GlaxoSmithKline, Sanofi, AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Teva Pharmaceutical, Bayer , Novo Nordisk, Allergan, Gilead Sciences, Boehringer Ingelheim, Takeda Pharmaceutical, Biogen. Key players are focusing on new product development and launching more automated, energy-efficient, and intelligent equipment. Growing importance of outdoor living spaces and increasing spending on backyard beautification projects have opened new opportunities for manufacturers in the market. Major players are expanding globally through strategic mergers and acquisitions to leverage opportunities in emerging economies witnessing a rise in disposable income.

Market Drivers and Restraints

The growth of the lawn & garden equipment market is propelled by rising residential and commercial construction activities. Growing interest of consumers in outdoor leisure and recreational activities is escalating the demand for landscaping services and equipment. Increasing spending on amenity upgrades of public parks, sports fields, and other outdoor spaces is also fueling the sales of turf and grounds maintenance equipment. However, stringent regulations regarding carbon emission from gasoline-powered equipment as well as rising environmental concerns regarding fuel consumption may negatively impact the growth of the market. In addition, fluctuating costs of raw materials may restrain the profitability of players in the industry.


Segment Analysis

The global lawn and garden equipment market is dominated by the residential segment. Residential segment accounts for over 60% market share as majority of households employ lawn and garden tools either for recreational or aesthetic purposes. The increasing homeownership rates and growing focus of homeowners on landscaping has been a major factor for residential segment's dominance. Gardening has developed as a leisure activity for many households globally which has also boosted the adoption of various gardening equipment.

The commercial segment is the second largest with share of around 30% in the overall market. Golf courses, landscape service providers, government properties require maintenance of extensive green spaces and gardens which drives the demand for commercial lawn and garden equipment such as lawn mowers, trimmers among others. However, the commercial segment is expected to witness relatively higher growth during the forecast period due to increasing contracts for maintaining public parks and playgrounds.

Global Analysis

Regionally, North America dominates the global lawn and garden equipment market with a share of over 35% owing to factors such as early adoption of landscaping trend and high disposable income of households. However, Asia Pacific is identified as the fastest growing regional market due to improving economic conditions, increasing investments in public green spaces and rising interest of homemakers in gardening. Countries like China, India and Japan are anticipated to fuel the demand for lawn and garden equipment in Asia Pacific region. Meanwhile, Europe holds the second largest market size on back of strong presence of key players and traditional focus of European households on gardening.


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