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Landscaping Tools Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Landscaping Tools Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • July 2021
  • 140 pages
  • ID: 6106047
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The global landscaping tools market was valued at USD 27.96 billion in 2020 and is projected to reach USD 37.10 billion by 2026, registering a CAGR of 5% during the forecast period (2021-2026).

Owing to the Covid-19, landscaping tools manufacturers faced challenges, such as supply chain disruptions and shortage of labor, which have been leading to lower sales. However, due to the increased landscaping and gardening activities, the sales of landscaping tools has been higher after few months, when there is upliftment of lockdown in several countries.

Among the regions, North America is the major dominating market. For instance, in 2018, the American gardeners’ spending was recorded as USD 47.8 billion on the lawn and garden retail sales with a record average household expenditure of USD 503, more than USD 100 when compared to the previous year i.e., 2017. The increased spending on lawn and gardening tools has bolstered the growth of market and will in turn create opportunities for companies.

Many countries around the world have been shifting to organic, eco friendly environment by installing indoor/Urban gardening in their houses. Hence, there is a scope from these type of customers to increase the sales of the tools used for gardening such as small hand tools and power tools. Also, with the growing awareness among the households regarding the conservation of environment by improving the green cover, the opportunities for new as well as exiting players in the landscaping tools market may enhance during the forecast period.

Key Market Trends
Growing Trend of Kitchen/ Indoor Gardening

Indoor/kitchen gardening is a practice of growing crops in residential houses to meet household requirements, which are on the rise in the developed countries. This, in turn, has raised the demand for landscaping tools that provides the consumers with easy and convenient measures for gardening. The added benefits of these landscaping tools have led to a rise in the demand for the same in the study period.

During the pandemic, many countries have seen an increasing trend in home gardening. As people started questioning the food supply chains, their transparency, and their food safety, the thought of food shortage became a serious concern. Instead, people started to grow their own fresh produce at home to eliminate these concerns. This further demands the growth of landscaping tools globally.

It’s not just established companies that are offering consumers solutions for growing fresh fruit and vegetables in their own homes. Up coming companies are noticing the potential in the market and are expanding their businesses in the new provinces where the demand for indoor kitchen gardening is high.

Furthermore, according to the Ministry of Statistics and Program Implementation (MoSPI), in India, the gross value from the kitchen gardens has been increasing every year. This, in turn, creates an opportunity to increase the sales of landscaping tools in the Indian market. Also,the escalating expenditure on garden tools indicates the opportunity for higher demand for the landscaping tools across the globe during the forecast period.

North America is the Major Dominating Market

Landscaping and lawn care is a booming business venture in the North America. This sector is a low-cost and high-sweat-equity profession that offers immigrants and first-generation Americans a starting point and a gateway into the mainstream economy. The growth of this industry has a favorable impact on the use of landscaping tools. With the increasing concerns of environmental pollution, about 80% of the United States’s population staying in urban areas. The people in the country are focusing on a green backyard for better quality air and recreational activities. This indicates an increase in the popularity of landscaping in the country, which drives the use of gardening tools.

Landscaping is also known to improve the value of the property. Thus, most real estate companies are spending on improving the area around the property and expanding the landscaped area in the region. Landscaping in Canada has become one of the many forms of eco-tourism. Hotels are earning about USD 6-7 million per year in additional revenue from guests willing to pay extra to overlook the green space. Hence, more hotels are willing to use landscaping in and around its building. Therefore, policy changes, geographic and demographic suitability, and the use of advanced technology are the major factors that are expected to drive the market for landscaping tools in North America.

Competitive Landscape
The landscaping tools market is fairly consolidated with the presence of numerous large, small, and medium-sized manufacturers. The top players in the market include Andreas Stihl AG & Co. KG, Husqvarna AB, MTD Products Inc., Robert Bosch GmbH, Stanley Black & Decker Inc., Honda Power Equipment, and The Toro Corp., among others. Product innovation and acquisitions are the prime strategies being followed by these companies to increase their market share and improve their production capabilities using innovative technology.

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