Power Lawn and Garden Equipment Market to Expand Due to Rising Interest in Outdoor Living
The global power lawn and garden equipment market featured by high competition is dominated by large international players. Key players in the market are focused on technological innovations and introduce novel products such as robotic and battery-powered outdoor lawnmowers to stay competitive. Acquisitions and partnerships with regional or local companies is what leading companies have resorted to expand their geographical presence.
Some of the primary growth drivers of the global power lawn and garden equipment market include economic revival, rebound of home remodeling activities, and increasing indulgence in garden parties. An increasing number of do-it-yourself gardeners is also having a positive influence on the global power lawn and garden equipment market.
Browse The Report: https://www.transparencymarketresearch.com/power-lawn-garden-equipment-market.html
On the other hand, posing a challenge to the growth of power lawn and garden equipment market is disruptions in retail market for garden products and unfavorable natural calamities.
A report by Transparency Market Research estimates the global power lawn and garden equipment market to reach a valuation of US$96,832.1 mn by the end of 2025, expanding at a CAGR of 4.8% between 2017 and 2025.
High Spending on Outdoor Living makes North America Leader
The segments of the power lawn and garden equipment market based on equipment type are lawnmower, trimmer and edger, snow thrower/blower, rotary tiller, blower, vaccum, and sweeper, and others. The segment of mower can be further sub-segmented into riding (garden/turf tractor) and non-riding. Amongst all, lawnmowers held the leading share of the global power lawn and garden equipment market in 2016. The increasing demand for lawnmowers from the commercial sector such as golf courses, and the increasing spending on garden equipment for residential use is having a positive bearing on lawnmowers equipment type segment.
Download PDF Sample for this Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=547
Based on application, the residential segment is expected to display the leading CAGR over the forecast period. This is mainly because of increasing number of single family homes and capability for discretionary purchase of garden products in developed countries of North America and Western Europe. Consumers in these regions also engage professional landscaping and redesigning services for development of their garden spaces. These factors are expected to lift the demand for power lawn and garden equipment for residential use. Nevertheless, the commercial segment is expected to display exponential growth in the forthcoming years.
Comments
Post a Comment