Gardening Tools Market Synopsis
As per the analysis by Market Research Future (MRFR), the global gardening tools market is projected to amass the market value of USD 112.09 billion, expanding at a CAGR of 4.51% during the forecast period from 2020 to 2027.
The increasing demand for gardens in residential and corporate constructions is projected to be one of the most significant factors driving the gardening tools market 2020. Furthermore, the growing need for lawn tools in landscaping services can enhance the demand for gardening tools and develop the market. In addition, the increased demand for technically-advanced gardening tools is projected to be another key factor underpinning the evolution of gardening market during the forecast period. The increasing number of product launches is anticipated to boost the demand for gardening tools and boost the market.
On the other hand, the high prices of advanced tools are likely to hamper market growth. However, the increasing prevalence of vertical gardens across urban areas, along with aforementioned factors are projected to counter the obstructing factors and favor the market growth.
Key Players
Some the global gardening tools key market players are Stanley Black & Decker, Inc. (US), Ray Padula Holdings, LLC (US), Griffon Corporation (US), American Lawn Mower Co (US), Bully Tools, Inc. (US), and a few others
Many international players dominate the market due to their extensive product range, high quality, aggressive pricing, and market reach. Many manufacturers have also introduced creative and technologically advanced gardening equipment to meet the needs of smart gardening. For starters, in February 2019, Husqvarna AB unveiled the new Automower 435X AWD, an AI-enabled, all-wheel-drive robotic mower with smart home connectivity. The fully autonomous robotic lawn mower is designed to handle rough terrain and slopes with an incline of up to 70%, works with Amazon Alexa and Google Home, and offers an open API for smart home integration. Increased availability of new products can lead consumers to invest in garden tools, thereby boosting the global market's growth for gardening tools market size during the forecast period. In addition, foreign players are expected to extend their geographical reach by acquiring regional and local players.
Market Segmentation
The segment analysis of the global gardening tools market is done by product, type, distribution channel, and end-use.
The product-based segments of the global gardening tools market are lawnmowers, pruning tools, striking & digging tools, blowers, vacuums, & sweepers, and others. The lawnmower segment is expected to expand at the highest CAGR during the review period.
The type-based segments of the global gardening tools market are hand tools and power tools. Power tools segment is anticipated to dominate the market owing to their ease of usage, leading to its larger preference.
The distribution channel-based segments of the global gardening tools market are store-based and non-store based. The growing prominence of e-commerce is projected to boost the non-store-based segment. The non-store segment is estimated to witness a higher CAGR during the forecast period.
The end-use-based segments of the global gardening tools market are commercial and residential. The residential sector is projected to dominate the global market owing to the presence of lucrative opportunities in the coming period.
Regional Analysis
The gardening tool market overview is divided into four geographic regions based on geography: North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
As per the analysis by MRFR, the global gardening tools market is projected to be dominated by North America. The region is anticipated to acquire significant market share in the coming period. The increasing demand for landscaping services is likely to be one of the significant factors driving the regional gardening tools market . Further, the increasing demand to maintain public green spaces is predicted to be another potent factor favouring the growth of the regional market.
Europe is likely to witness decent growth during the forecast period owing to the increasing development of infrastructure. Furthermore, the increasing demand to ensure lawn maintenance for public gardens is anticipated to develop the regional market.
The APAC region is predicted to be the fastest-growing regional market owing to the growing construction of residential properties. Further, the region is anticipated to experience a rise in demand for the aesthetic appeal of commercial spaces, which can augment the market's size during the review period.
The RoW market is predicted to be heavily driven by the increasing demand for maintenance and management of green spaces in South America and the Middle East.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
Related Reports
