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
). Due to Covid-19, landscaping tool manufacturers have faced challenges such as supply chain disruptions and labor shortages that have resulted in lower sales. However, due to increased landscaping and horticultural activities, sales of landscaping tools were higher after a few months when the lockdown was lifted in several countries.
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North America is the dominant market among the regions. For example, in 2018 American gardeners’ spending was recorded at $ 47.8 billion on lawn and garden retail sales with a record average household spending of $ 503, more than $ 100 year-over-year, i.e. 2017. The increase in spending for lawn and garden tools have supported the growth of the market and in turn will create opportunities for businesses.
Many countries around the world have switched to an organic, eco-friendly environment by installing indoor / urban gardening in their homes. Hence, there is scope for this type of customer to increase sales of garden tools such as small hand tools and power tools. As households become more aware of the need to preserve the environment by improving green coverage, the opportunities for new and emerging players in the Landscaping Tools market may also improve during the forecast period.
Major market trends
Growing trend of gardening in the kitchen / interior
Indoor / kitchen gardening is a practice of growing crops indoors to meet growing household needs in developed countries. This, in turn, has increased the demand for landscaping equipment that can provide simple and convenient gardening measures for consumers. The additional use of these tools for landscaping has led to an increase in demand for them during the period under study.
During the pandemic, many countries saw an increasing trend in home gardening. As people began to question food supply chains, their transparency and food safety, the thought of food shortages became a serious concern. Instead, people started growing their own fresh produce at home to address these concerns. This continues to require the growth of landscaping tools worldwide.
Not only established companies offer consumers solutions for growing their own fresh fruit and vegetables. Emerging companies are realizing the potential of the market and expanding their businesses in the new provinces, where the demand for indoor vegetable gardens is high.
In addition, the gross value of kitchen gardens is increasing every year in India, according to the Ministry of Statistics and Program Implementation (MoSPI). This in turn offers the opportunity to increase sales of landscaping tools in the Indian market. The increasing spending on garden tools also suggests the possibility of higher demand for garden tools around the world in the forecast period.
North America is the dominant market
Landscaping and lawn care is a booming business company in North America. This sector is an inexpensive and sweaty occupation that provides a jumping-off point and gateway into the mainstream economy for immigrants and first-generation Americans. The growth of this industry is beneficial to the use of landscaping tools. With pollution concerns growing, approximately 80% of the United States’ population remains in urban areas. The people in the country rely on a green backyard for better air quality and leisure activities. This indicates an increasing popularity of landscaping in the country, which is driving the use of garden tools.
Landscaping is also known to add value to property. Therefore, most real estate companies invest in improving the area surrounding the property and expanding the landscaping in the area. Landscaping in Canada has become one of the many forms of ecotourism. Hotels earn approximately $ 6-7 million annually in additional income from guests willing to pay an additional fee for the view of the green spaces. As a result, more hotels are willing to take advantage of the landscaping in and around the building. Hence, political changes, geographic and demographic suitability, and the use of advanced technologies are the major factors expected to drive the landscaping tools market in North America.
The landscaping tool market is fairly consolidated with the presence of numerous large, small, and medium-sized manufacturers. The top players on 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. Product innovations and acquisitions are the main strategies of these companies to increase their market share and improve their production capacities through the use of innovative technologies.
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