DUBLIN, August 04, 2021--(BUSINESS WIRE)--The "Landscaping Tools Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
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).
Andreas Stihl AG & Co. KG
MTD Products, Inc.
Robert Bosch GmbH
Stanley Black & Decker, Inc.
The Toro Co.
Honda Power Equipment
Falcon Garden Tools
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' 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.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.2 End User
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adapted Strategies
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 AN ASSESSMENT OF IMPACT OF COVID-19 ON THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/dt1f2k
View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005508/en/
Laura Wood, Senior Press Manager
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