Lawn and garden equipment refers to machinery used for cutting, trimming, edging, and maintaining grass, grounds, and outdoor green spaces. This includes lawn mowers, trimmers, edgers, tillers, snow blowers and leaf blowers. With busy lifestyles, outdoor power equipment helps consumers save time and effort in maintaining their lawns and gardens. Also, the growing real estate sector and increasing residential and commercial construction have augmented the demand for well-manicured lawns and gardens, thus driving the sales of lawn and garden equipment. The global lawn & garden equipment market is estimated to be valued at US$ 33.97 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers propelling the growth of the lawn & garden equipment market is increasing outdoor leisure and recreational activities. With rising disposable incomes and changing lifestyle preferences, people are spending more time outdoors in parks, gardens and sports fields for leisure, exercising and other outdoor activities. This has augmented the demand for well-maintained open spaces and landscapes, thereby driving the sales of lawn & garden equipment. Furthermore, growing consumer awareness about eco-friendly landscaping is also fueling the adoption of cordless or battery-powered equipment to reduce dependency on fossil fuels. Advancements in lithium-ion battery technology have improved the battery life and performance of electric lawn & garden equipment. Owing to environmental benefits and convenience of use, the electric equipment segment is expected to witness lucrative growth over the forecast period.

SWOT Analysis

Strength: The lawn & garden equipment market has strong demand from both residential and commercial end-users. Rising outdoor recreation activities and growing emphasis on green spaces in urban areas drive sales of lawn mowers, trimmers, and other gardening equipment. Equipment manufacturers offer a wide variety of products suited for different types of lawns and gardens. Furthermore, technological advancements have led to the introduction of robotic lawn mowers and other smart garden tools that perform tasks autonomously.

Weakness: High initial costs of equipment such as ride-on mowers and garden tractors restrict their adoption in price-sensitive markets. Frequent repairs and maintenance needs also increase long-term ownership costs. The market also faces challenges from stringent emissions norms on gasoline-powered tools. Moreover, economic downturns and reduced consumer spending negatively impact sales.

Opportunity: Rising do-it-yourself trends and increasing home ownership in developing countries present new opportunities. The penetration of robotic and battery-powered garden equipment is rising and represents an avenue for future growth. Additionally, expansion of commercial landscaping and grounds maintenance industries supports equipment demand. The growing popularity of gardening as a hobby and wellness activity further benefits market prospects.

Threats: Volatility in raw material prices poses inflationary pressures. Intense competition among market players squeezes profit margins. Adverse weather conditions that damage gardens or delay the lawn mowing season also threaten sales. Furthermore, trade disputes and changing import-export regulations create uncertainties.

Key Takeaways

The Global Lawn & Garden Equipment Market Size is expected to witness high growth over the forecast period of 2024-2031.

Regional analysis: North America currently dominates the market, supported by large turf areas, growing DIY culture, and availability of various product types. However, Asia Pacific is poised to register the fastest growth owing to surging home ownership, expansion of commercial landscaping, and rising environmental awareness. Key players are investing heavily in countries like China, India, and Japan through new product launches, partnerships, and manufacturing plants.

Key players: Key players operating in the lawn & garden equipment market are Pfizer, Roche, Johnson & Johnson, Novartis, Merck & Co, GlaxoSmithKline, Sanofi, AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Teva Pharmaceutical, Bayer , Novo Nordisk, Allergan, Gilead Sciences, Boehringer Ingelheim, Takeda Pharmaceutical, and Biogen. These companies hold a major share through their extensive brand portfolios and global distribution networks.

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