Power Lawn & Garden Equipment Market Analysis and Latest Trends
Power Lawn & Garden Equipment are tools and machines that are used for maintaining lawns, gardens, and outdoor spaces. These include items such as lawn mowers, trimmers, blowers, chainsaws, and hedge trimmers, among others. The market for power lawn & garden equipment has been experiencing steady growth due to factors such as increasing urbanization, rising disposable incomes, and growing interest in gardening and landscaping activities.
The Power Lawn & Garden Equipment Market is expected to grow at a CAGR of 5.9% during the forecast period. One of the key trends in the market is the increasing demand for battery-powered and cordless equipment, as consumers are becoming more conscious of environmental issues and are looking for more sustainable options. Manufacturers are also focusing on developing smart and connected devices, which can be controlled remotely through smartphones or tablets, in order to cater to the tech-savvy consumer base.
Additionally, the rise of online sales channels and e-commerce platforms has made it easier for consumers to browse and purchase power lawn & garden equipment, further driving market growth. Overall, the market for power lawn & garden equipment is expected to continue to expand as more people take up gardening as a hobby and seek ways to maintain their outdoor spaces effectively.
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Power Lawn & Garden Equipment Major Market Players
The power lawn and garden equipment market is highly competitive with key players such as BLACK+DECKER, ANDREAS STIHL, Briggs & Stratton, Deere & Company, ECHO, Husqvarna, Kohler, Makita, MTD Products, Snow Joe, Textron, and Toro leading the market. These companies offer a wide range of products including lawn mowers, chainsaws, trimmers, and leaf blowers.
Husqvarna is one of the leading players in the power lawn and garden equipment market. The company has seen steady market growth due to its innovative products and strong distribution network. Husqvarna continues to invest in research and development to improve its product offerings and expand its market reach. The future growth prospects of Husqvarna remain positive as the demand for power lawn and garden equipment continues to rise.
Deere & Company, commonly known as John Deere, is another key player in the power lawn and garden equipment market. The company has a strong presence in the market with its lawn tractors and zero-turn mowers. Deere & Company has experienced steady market growth over the years and is expected to continue growing in the coming years. The company's sales revenue reflects its market position and growth potential.
According to recent reports, Husqvarna Group reported sales revenue of over $4.6 billion in 2020, showcasing its strong market performance. On the other hand, Deere & Company reported sales revenue of over $35 billion in 2020, solidifying its position as one of the top players in the power lawn and garden equipment market. These figures highlight the market size and competitive landscape of the power lawn and garden equipment industry.
What Are The Key Opportunities For Power Lawn & Garden Equipment Manufacturers?
The Power Lawn & Garden Equipment market is experiencing steady growth due to increasing demand for landscaping and gardening services in both residential and commercial sectors. The market is driven by technological advancements in equipment leading to increased efficiency and productivity. Furthermore, the growing trend of outdoor living spaces and emphasis on green spaces in urban areas is expected to drive further growth in the market. With increasing disposable income and rising awareness about environmental sustainability, the market is poised for continued growth in the coming years. Key players in the market are focusing on product innovation and strategic partnerships to capitalize on emerging opportunities.
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Market Segmentation
The Power Lawn & Garden Equipment Market Analysis by types is segmented into: