The garden and lawn tools market size is expected to grow by USD 2.91 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Garden and Lawn Tools Market 2020-2024 (Graphic: Business Wire)
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The increasing number of product launches is one of the key factors driving the growth of the garden and lawn tools market. Vendors are increasingly focusing on introducing new variants of garden and lawn tools, integrated with additional features. For instance, in February 2019, Husqvarna launched the new Automower, which is a robotic lawnmower. The new fully autonomous robotic lawnmower is designed to manage rough terrains and slopes. It also has a remote object-detection feature. Thus, the increasing availability of new products may encourage more end-users to invest in garden and lawn tools and drive the growth of the global market during the forecast period.
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As per Technavio, the rising demand for smart gardening will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Garden And Lawn Tools Market: Rising Demand for Smart Gardening
The rising demand for smart gardening is expected to be one of the key trends in the garden and lawn tools market during the forecast period. The continuous technological advances have led to the emergence of smart devices for gardening, which makes gardening simpler and ensures on-time maintenance. Smart gardening devices alert end-users to add nutrients and water to the plants on time. The growing inclination of end-users toward smart gardening devices has encouraged vendors to develop innovative tools that can be integrated with such devices. For instance, in January 2019, iRobot Corp. (Robot) announced the launch of Terra robot lawnmower. The equipment can be connected to iRobot's HOME App, and end-users can adjust the operation of the equipment through the app.
"Other factors such as the presence of government initiatives to promote gardening, and the increasing availability of landscaping services will have a significant impact on the growth of the garden and lawn tools market value during the forecast period," says a senior analyst at Technavio.
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Garden And Lawn Tools Market: Segmentation Analysis
This market research report segments the garden and lawn tools market by product (lawnmowers, power tools, hand tools, and garden accessories) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the garden and lawn tools market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the increasing number of golf courses and the rising popularity of home-grown fresh vegetables and fruits.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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