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Gardening Equipment Market Exhibit a Remarkable CAGR of 6.2% and is expected to reach $74.97 billion by 2031

04-17-2024 10:22 PM CET | Industry, Real Estate & Construction

Press release from: Allied market research

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Gardening Equipment Market

Gardening Equipment Market

Gardening Equipment Market by Product Type (Lawn Mowers, Handheld equipment, Others), by End-User (Residential, Commercial), by Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global gardening equipment industry generated $40.40 billion in 2021, and is anticipated to generate $74.97 billion by 2031, witnessing a CAGR of 6.2% from 2022 to 2031.

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Prime determinants of growth
Rapid industrialization & urbanization, surge in middle-class population along with increase in disposable income, and technological advancements in the gardening equipment industry drive the growth of the global gardening equipment market. However, seasonal variations are the major restraining factors that hinder the market growth. Moreover, product developments such as lightweight tools along with the growth in popularity of using smartphone apps for gardening can attract the public to buy these tools. This is expected to boost the gardening equipment market opportunity during the forecast period.

Covid-19 Scenario
The outbreak of the Covid-19 pandemic had a negative impact on the global gardening equipment market. Various key manufacturers in the market had to stop their business in countries such as China, the U.S., and India, especially in the initial period.
Construction activities were delayed due to lack of raw materials, supply chain disruptions, unavailability of manpower, which, in turn, had directly impacted the global gardening equipment market.
Sale of gardening equipment was also hampered, owing to decline in disposable income.
However, reopening of production facilities and introduction of vaccines for coronavirus are anticipated to lead to re-opening of gardening equipment companies.

The lawn mowers segment to maintain its leadership status throughout the forecast period
Based on product type, the lawn mowers segment held the highest market share in 2021, accounting for more than three-fourths of the global gardening equipment market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 6.7% from 2022 to 2031, due to advancement in technology to save energy, time, and cost. The report also analyzes handheld equipment and others.

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The residential segment to maintain its lead position during the forecast period
Based on end user, the residential segment accounted for the largest share in 2021, contributing to around two-thirds of the global gardening equipment market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 6.5% from 2022 to 2031, owing to the rise in construction activities with rapid industrialization and the growth in population. The research also analyzes the commercial segment.

The offline segment to maintain its lead position during the forecast period
Based on sales channel, the offline segment accounted for the largest share in 2021, contributing to around two-thirds of the global gardening equipment market, and is projected to maintain its lead position during the forecast period. This is attributed to the adoption of technological advancements in the gardening equipment industry. However, the online segment is expected to portray the largest CAGR of 6.9% from 2022 to 2031, due to rise in construction activities in developing countries such as China, India, and Africa.

North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue 2021, accounting for nearly half of the global gardening equipment market, owing to rise in population and increase in disposable income. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.2% from 2022 to 2031. This is attributed to increase in remodeling and repairing work in developing countries such as China, India, Vietnam, and Indonesia.

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Leading Market Players: -
Stanley Black & Decker, Robert Bosch Power Tools GmbH, Stiga Group, Excel Industries, Inc., The Toro Company, STIHL Holding AG & Co. KG, Deere & Company, Hitachi Ltd., Honda Motor Co., Ltd, Husqvarna AB, Ariens Company, Briggs Stratton, Falcon Garden Tools, ECHO INCORPORATED, KUBOTA Corporation, Schiller Grounds Care, Inc., Emak S.p.A.

The report provides a detailed analysis of these key players of the market. These companies have adopted several strategies such as partnerships, expansion, collaborations, new product launches, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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