The Lawn & Garden Equipment Market Will Grow At Highest Pace...

The Lawn & Garden Equipment Market Will Grow At Highest Pace Owing To Increasing Demand For Landscaping Services

Posted 2024-03-07 06:39:28

The global lawn & garden equipment market comprises power and hand tools that are used for commercial and residential landscaping purposes. Power lawn & garden equipment include lawnmowers, trimmers, leaf blowers and chainsaws, while hand tools include shovels, rakes, shears and pruners. The commercial sector widely uses power equipment for gardening services and landscape maintenance of public parks, sports fields and golf courses. For residential use, these tools help maintain beautiful lawns and gardens. The demand for landscaping services is rising globally due to increasing spending power and growing focus on outdoor aesthetics.

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 2024 to 2031.

Key Takeaways

Key players operating in the lawn & garden equipment market 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. The growing interest of consumers in outdoor living spaces and increasing spending on home improvement activities are fueling the demand for Lawn & Garden Equipment Market. Furthermore, technological advancements such as battery-powered equipment and smart devices for precision landscaping are encouraging adoption.

In terms of regions, North America is the largest Lawn & Garden Equipment market with the U.S being the major revenue generator. This can be attributed to factors like large house sizes with expansive yards, high disposable incomes and growth in commercial landscaping industry. Europe is the second largest regional market led by Germany, France and the U.K owing to high focus on aesthetics of public spaces and increasing trend of DIY lawn and garden activities. Asia Pacific is poised to be the fastest growing region on back of rising standards of living, rapid urbanization and growth in horticulture industry in countries like India and China.

Get more insights on Lawn & Garden Equipment Market.