Global DIY & Garden Equipment Industry
The worldwide gardening and outdoor living market (part of the home goods industry) is expected to reach almost $183 billion in 2014, representing 12% growth in five years, reports MarketLine.
Gardening and outdoor living market growth has been moderate over recent years, due to a decline in spending on leisure activities due to economic volatility and declining disposable income levels in some markets.
In established markets such as the US, competition at mass-market level has become more intense, but is lessening at the market’s premium level, reports Global Industry Analysts. Market growth is fuelled by consumers investing in their gardens as an extension of the home, with outdoor furnishings seen as a way to add value to the home. Television shows and lifestyle magazines promoting home makeovers are also contributing to market growth. Fashion trends dictate the market to a large extent, with neutral colors, an elegant, luxurious look and simple designs proving popular.
The DIY market has seen growth in recent years as consumers under pressure due to the economic crisis opt to carry out home improvements themselves rather than paying for professional home improvement help.
Global power lawn and garden equipment demand is expected to record close to 5% yearly growth to reach almost $19 billion in 2015, according to research from Freedonia. As the housing market in the US and Western Europe recover, equipment sales demand will rise. Industry sales will post strong recovery through 2015, with growth proving more moderate in the long term as product price gains slow and growth opportunities in certain leading markets, particularly in golf courses, witnesses a decline. Outside of the US, however, golf course growth opportunities will fare better as golf tourism rises, along with living standards.
Lawnmowers will continue to represent the leading market segment in terms of sales. Demand for lawnmowers is set to rise as the West European and US housing markets rebound. Growth in professional landscaping combined with aging populations in established markets will fuel growth in the turf and grounds equipment market segment. Edgers and trimmers are also set to record growth in commercial and residential markets.
Leading players operating in the global outdoor garden furniture market include Meadowcraft, Agio International, Lloyd Flanders, Homecrest, Casual Living, Kingsley-Bate, Grosfillex North America, Gibraltar Furniture and Brown Jordan.