Gardening Equipment Market is Booming globally with Marginal GrowthPosted by Mrudula Karmarkar on October 3rd, 2022 The global gardening equipment market size is projected to reach USD 138.89 billion by 2030, registering a CAGR of 5.9%, according to a new report by Grand View Research, Inc. The COVID-19 pandemic took a severe toll on the global economy, driving down consumer demand and disrupting supply chains. The actions undertaken by several economies, such as quarantines, travel bans, curfews, transportation restrictions, and office and factory closures, among others, to arrest the spread of coronavirus, had an adverse impact on the gardening equipment market in H1/2020. There were heavy losses in the lawnmower segment due to the temporary shutdown of construction activities, but battery-powered models were comparatively stable, with limited losses as this portable equipment was demanded from residential. The surging popularity of riding/tractor lawnmowers, and chainsaws, particularly the zero-turn models, would augment the product sales. Trending hybrid tools may further contribute to the equipment demand. The majority of electric cordless lawn and garden tools possess a low battery capacity and usually have a run-time duration of not more than an hour. Hybrid tools are equipped with an onboard charging system, which addresses this problem efficiently. The growing demand for electric machines also characterized the performance of battery-powered blowers and chainsaws. The blowers show a significant reduction in sales, while the battery-powered models, boosted by the results from the third quarter year 2020 and the year 2021 and improved their performance compared to 2022. For instance, Husqvarna, the leader in garden watering systems, robotic lawnmowers, and garden tractors, and second in chainsaws and trimmers, stated that the first-quarter operating profit was USD 140.8 million as compared to a year-earlier 175.5 million. The market growth can be ascribed to increased demand for ergonomic tools designed for lawns and gardens for the rising geriatric population. Also, a rise in disposable income coupled with lower housing rates in 2021 has increased the number of real-estate projects across the economies. Moreover, rising interest among millennials to transform the outdoor spaces into relaxing areas, such as lounges, entertainment, outdoor kitchen, etc. have been cited few of the emerging trends in the market. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/gardening-equipment-market/request/rs1 The gardening equipment market has experienced a slight slump in the first half of 2020 due to the COVID-19 pandemic. The sluggish growth of the market is attributed to the temporary closure of retail stores and lower consumer demand for lawn and garden tools. However, favorable climatic conditions, prolonged gardening season, and preference for online sales among the gardeners have offset the effect of the pandemic. Moreover, the stay-at-home guidelines to curb the spread of COVID-19 have led individuals to spend most of their time at home, which, in turn, has fueled the demand for gardening equipment in 2020. Gardening Equipment Market Report Highlights
The sudden increase in demand for battery-powered tools such as trimmers, edgers, augers, and chain saws in H1 /2021 failed to meet the production demand. In addition, OEMs worldwide are currently experiencing a shortage of semiconductors and high prices of lithium batteries. Furthermore, disruption in supply chain activities, rising raw material prices, and a surge in oil prices due to the Russian-Ukraine conflict are expected to slow down the demand for gas-powered gardening equipment. As a result, OEMs to increase their product prices in the next few quarters of 2022. However, these macro-economic factors are likely to be short-term and are expected to come down by H2 2023. Gardening equipment is a fragmented market characterized by the prevalence of a few prominent international players such as Deere and Company; Husqvarna Group; The Toro Company, MTD Products, Inc (now Stanley Black and Decker, Inc), and several small-scale manufacturers. Some companies compete in various product categories, whereas some companies focus on a single product category, for instance, JCB Tools in the Electric Hand Tools, Power Tools, Accessories and Storage solutions, and ANDREAS STIHL AG & Co. KG in the chainsaws and other handheld power equipment, including trimmers and blowers respectively. The COVID-19 pandemic, notably during H1/2020, took a severe toll on the supply chain, particularly by disrupting the supply of raw materials and manufacturing activities. This subsequently delayed deliveries of new products. On the other hand, in H2/2020, OEMs experienced significant demand from online sales channels that helped offset the COVID-19 impact to some extent. List of Key Players in Gardening Equipment Market
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