Gardening Equipment Market Expected to Reach $74.97 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Gardening Equipment Market," The Gardening Equipment Market Size was valued at $40.40 billion in 2021, and is estimated to reach $74.97 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.

Gardening equipment are range of tools designed for gardening activities. These tools can be classified as hand tools and power tools. These tools are widely used for landscaping activities by commercial and residential users. The most commonly used tools for gardening are paving weeders, hand tools, fishtail weeders, snips, lawnmowers, and trimmers.

The growth in construction activities due to rapid industrialization and surge in population are the major factors that boost the demand for gardening equipment market. In addition, the growth in popularity of the Do-It-Yourself trend among the public is a key factor that can boost the growth of the gardening equipment market. Moreover, technological advancements in the gardening equipment industry have led to the adoption of water management tools and lawnmowers for commercial and residential purposes. Such factors are anticipated to boost the gardening equipment market growth during the forecast period.

Major players are engaged in adopting key development strategies such as product launch and acquisition to sustain the competition and improve the product portfolio. For instance, in May 2022, Toro launched new robotic mower, delivering on technological innovation and helping diversifying its portfolio.

North-America accounted for the largest share of the global gardening equipment market share in terms of revenue in 2021, owing to rise in demand for landscaping and beautification endeavors from the commercial and residential construction sectors. However, Asia- pacific is expected to register highest CAGR during the forecast period. This is due to increase in R&D investments in developing countries and rise in government investments day-by-day in construction activities.

However, during the COVID-19 pandemic, various manufacturers in the gardening equipment market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of gardening equipment companies. In addition, lack of manpower and raw materials also constricted supply of gardening equipment, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of gardening equipment companies.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global gardening equipment market trends and dynamics. 
• Depending on product type, the lawn mowers segment has dominated the gardening equipment market, in terms of revenue in 2021 and air filtration system is projected to grow at a significant CAGR during the forecast period.
• By end-user, the residential segment has registered highest revenue in 2021.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the global gardening equipment market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the gardening equipment industry.
• The gardening equipment market forecast analysis from 2022 to 2031 is included in the report.
• In-depth global gardening equipment market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.