PUBLISHER: The Business Research Company | PRODUCT CODE: 1387926
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387926
“Lawn And Garden Tractor And Home Lawn And Garden Equipment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on lawn and garden tractor and home lawn and garden equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for lawn and garden tractor and home lawn and garden equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The lawn and garden tractor and home lawn and garden equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Lawn and garden tractors typically feature higher horsepower engines to meet the demands of various tasks, while lawn tractors generally have lower horsepower engines and are primarily designed for lawn mowing. Lawn and garden equipment, on the other hand, encompasses a broader category of tools and machinery used for gardening and yard maintenance.
The main product types within the lawn and garden tractors and home lawn and garden equipment market include blowers, chain saws, cutters and shredders, tractors, lawnmowers, sprinklers and hoses, as well as other related product types. Chain saws are portable power saws with linked teeth to form an endless chain, and they can be powered manually, electrically, with gas, or by other means. The operation of these equipment types can be walk-behind, rider, or involve other methods. Various end-users of these products include residential users, professional landscaping services, and other end users who require lawn and garden equipment for their specific needs.
The lawn and garden tractor and home lawn and garden equipment market research report are one of a series of new reports from The Business Research Company that provides lawn and garden tractor and home lawn and garden equipment market statistics, including lawn and garden tractor and home lawn and garden equipment industry, global lawn and garden tractor and home lawn and garden equipment market size, regional shares, competitors with a lawn and garden tractor and home lawn and garden equipment market share, detailed lawn and garden tractor and home lawn and garden equipment market segments, lawn and garden tractor and home lawn and garden equipment market trends and opportunities, and any further data you may need to thrive in the lawn and garden tractor and home lawn and garden equipment industry. This lawn and garden tractor and home lawn and garden equipment market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The lawn and garden tractor and home lawn and garden equipment market size has grown steadily in recent years. It will grow from $30.5 billion in 2023 to $31.67 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth observed during the historical period can be attributed to several key factors, including shifts in consumer preferences, trends in homeownership, and prevailing economic conditions. These factors, collectively, played a significant role in shaping the growth dynamics within the lawn and garden tractors and home lawn and garden equipment market during that period.
The lawn and garden tractor and home lawn and garden equipment market size is expected to see steady growth in the next few years. It will grow to $36.21 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The anticipated growth in the forecast period can be attributed to various key factors, including the increasing adoption of sustainable and eco-friendly solutions, a growing aging population, the rise of urban gardening practices, the expansion of e-commerce and online sales channels, the influence of government regulations, and the impact of extreme weather events. Major trends expected to shape this period include considerations for seasonal variations, ongoing technological advancements, the integration of smart and connected devices, and the development of compact and versatile lawn and garden equipment, reflecting the evolving landscape of this market.
The increasing expansion of golf courses and green spaces has fueled a growing demand for lawn and garden tractors, consequently boosting the home lawn and garden equipment market. Garden tractors serve as essential tools for the regular maintenance of expansive areas like golf courses. With approximately 25.1 million Americans engaged in golf in 2021, the rising interest in the sport has led to an increased demand for golf courses. Consequently, this surge in green spaces and golf courses has significantly driven spending on garden equipment, garden tractors, lawn equipment, and home lawn products.
Anticipated growth in the lawn and garden tractor market is attributed to an upswing in government initiatives aimed at expanding green spaces. These initiatives commonly involve policies and programs focused on increasing vegetated land areas within regions. To encourage green landscaping and gardening, the government often promotes the use of electric or battery-powered equipment, aiming to reduce carbon emissions, enhance efficiency, and support environmental conservation. For instance, in April 2023, the US government allocated $1 billion to promote equitable access to trees and green spaces in urban and community forests. The objective of this initiative is to foster equal access to nature, expand tree planting in urban regions, address climate concerns, develop a clean energy economy, support environmental justice, and enhance economic opportunities nationwide. Therefore, these government efforts to expand green areas are expected to propel the lawn and garden tractor and home lawn equipment market growth in the coming period.
The higher cost of garden tractors in comparison to lawn tractors is anticipated to impede the growth of the lawn and garden tractor market. Garden tractors, known for their versatility and robust performance, command a higher price compared to lawn tractors. Typically, garden tractors are priced between $2,200 and $8,000, while lawn tractors fall within the $1,200 to $2,200 range. The higher price point of garden tractors poses a financial burden for individuals, potentially limiting the sales of these heavy-duty equipment in the market.
Technological advancements have become a prominent trend influencing the lawn and garden tractor market and the broader home lawn and garden equipment industry. Major industry players are directing their efforts towards the introduction of cutting-edge technologies, particularly battery-powered equipment, to provide customers with enhanced convenience and advanced features. As an illustration, in 2022, the U.S.-based manufacturer of power tools and equipment, ECHO Incorporated, rolled out the ECHO eFORCE 56V Battery System. This new range of battery-powered outdoor equipment is tailored for consumer lawn and garden care, offering homeowners powerful and user-friendly tools with professional-grade performance for home gardening.
Innovative product development remains a key focus for leading companies in the lawn and garden tractor and home lawn equipment market, emphasizing offerings like virtual boundary robotic lawn mowers to drive market revenues. These robotic mowers are autonomous machines integrated with technology enabling operation within predefined virtual boundaries or designated areas without the necessity for physical fencing or markers. For instance, in October 2022, Husqvarna AB, a Sweden-based company specializing in outdoor power products, launched a virtual boundary robotic lawn mower. The mower employs satellite navigation technology to navigate within virtual borders, allowing users to select mowing areas, schedules, and cutting heights without the reliance on traditional boundary wires. Husqvarna Automower Nera offers three distinct models accommodating lawns ranging from 2200 m2 to 5000 m2, providing easy installation, customized work zones, and restricted zones through the Husqvarna Automower Connect app.
In January 2023, Robert Bosch GmbH, a Germany-based engineering and technology company, acquired Husqvarna AB for an undisclosed sum. This strategic acquisition aims to enhance Husqvarna's electrification endeavors and further its battery cooperation. Husqvarna AB, known for its outdoor power products including home lawn and garden equipment, aligns with Bosch's vision for expanding innovation in this domain.
Major companies operating in the lawn and garden tractor and home lawn and garden equipment market include Ariens Company, Deere and Company, Husqvarna Group, Briggs and Stratton Corporation, Toro Company, STIHL AG and Co. KG, Emak SpA, Stanley Black and Decker Inc., Makita Corporation, Honda Motor Co. Ltd., Alamo Group, Fiskars Group, MTD Products Inc, Kubota Corporation, Mahindra & Mahindra Limited, Tata Motors Limited, Simplicity Manufacturing Company, Troy-Bilt LLC, Black and Decker, Greenworks, Worx, Ryobi Limited, Scotts Miracle-Gro Company, Earthwise, Snow Joe LLC, Homelite, PowerSmart, Generac Power Systems Inc., Bad Boy Mowers, Ferris Industries Inc., Scag Power Equipment, Swisher Acquisition Inc., Gravely, Hustler Turf Equipment
The Asia-Pacific was the largest region in the lawn and garden tractor and home lawn and garden equipment market in 2023. North America was the second largest region in the agricultural implement market. The regions covered in the lawn and garden tractor and home lawn and garden equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the lawn and garden tractor and home lawn and garden equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The lawn and garden tractor and home lawn and garden equipment market consists of sales of hand cultivator, tractor, lawn mower, harrow, spade, secateur, garden fork, sprinkler, rake, pruning saw, spray pump, grass shear, budding. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.