Summary
Major players in the lawn and garden tractor and home lawn and garden equipment market are Ariens Company, Deere & Company, Husqvarna AB, Briggs & Stratton Corporation, The Toro Company, STIHL Holding AG & Company KG, Emak, Stanley Black and Decker Inc, Echo, and Makita Corporation.
The global lawn and garden tractor and home lawn and garden equipment market will grow from $32.12 billion in 2022 to $33.6 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The lawn and garden tractor and home lawn and garden equipment market is expected to grow to $39.16 billion in 2027 at a CAGR of 3.9%.
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.
Lawn and garden tractor refer to higher horsepower engines to support the demands of multiple tasks while lawn tractors typically provide lower horsepower engines since they specialize mainly in lawn mowing. Lawn and garden equipment refer to tools used for gardening.
The Asia Pacific was the largest region in the lawn and garden tractor and home lawn and garden equipment market in 2022.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 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of lawn and garden tractors and home lawn and garden equipment are blowers, chain saws, cutters and shredders, tractors, lawnmowers, sprinklers and hoses, and other product types.Chain saws refer to portable power saws that is having teeth linked together to form an endless chain.
The power is manual, electric-powered, gas-powered, and other power.The operation is a walk-behind, rider, and other operations.
The various end-users involved are residential users, professional landscaping services, and other end users.
Growing golf course areas and development in the green space have led to a rise in demand for lawn and garden tractors and the home lawn and garden equipment market.Garden tractors are used for regular maintenance of golf courses.
According to the National Golf Foundation, around 25.1 million Americans played golf in 2021 19. The surge in the number of people playing golf is generating higher demand for golf courses. Therefore, the surge in golf courses and green space resulted in increased spending on garden equipment, garden tractor, lawn, and home lawn equipment.
The high price of the garden tractor, as compared to a lawn tractor is expected to limit the growth of the lawn and garden tractor and home lawn and garden equipment market.Garden tractors are considered more versatile and heavy-duty, thus costing more than lawn tractors.
The price of garden tractors ranges between $2,200 and $8,000, whereas lawn tractors are priced between $1,200 and $2,200. Hence, the higher price of the garden tractor as compared to a lawn tractor is a burden for individuals and is likely to hurt the sales of garden tractors.
In January 2020, The Toro Company, a US-based company that deals with turf maintenance, landscape, rental and specialty construction equipment, and irrigation solutions acquired Venture Products, Inc., a manufacturer of Ventrac-branded products for $167.5 million. The acquisition supports growth strategy in the professional market with the addition of a strong brand and expanded product offering to customers in the turf, landscape, and snow and ice maintenance categories. Venture Products Inc., is a US-based manufacturer of equipment for turf and landscape grounds management, sidewalk snow removal, and specialty grounds care maintenance.
The countries covered in the lawn and garden tractor and home lawn and garden equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
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