LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global garden and lawn tools market size is projected to reach USD 25.63 billion by 2021, growing at a CAGR of more than 5% over the forecast period.
This research report titled ‘Global Garden and Lawn Tools Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The emergence of green roofs in many new constructions is one of the key drivers of the garden and lawn tools market. These green roofs filter airborne pollutants, decrease energy consumption, increase biodiversity, and serve as micro parks. The maintenance requirements of these green roofs drive the demand for garden and lawn tools.
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Based on product type, the report categorizes the global garden and lawn tools market into the following segments:
- Power tools
- Hand tools
- Garden accessories
The top three revenue-generating product segments in the global garden and lawn tools market are discussed below:
“Currently, gas-powered lawn mowers constitute the largest segment of the market segment. However, increasing awareness about adopting eco-friendly lifestyles have led to the swift increase in the market penetration of battery-powered and hybrid lawn mowers,” says Poonam Saini, one of the lead analysts at Technavio for retail goods and services research.
Also, with rising popularity of the concept of green roofs and with the increasing availability of innovative products, the future market for power lawnmowers looks promising. Prominent players such as Husqvarna and Ferris are now considering expansion of their production capacities to meet the rising demand.
The power tools market segment is the fastest growing segment of the global garden and lawn tools market, driven by the fast and efficient nature of their operation. Some of the popular power tools used in this segment are hedge trimmers, shredders, and grass trimmers. Currently, there is a growing demand for electric and cordless garden tools, which is being catered to by prominent vendors such as MTD, Robert Bosch, and Techtronic Industries. With an increasing preference for do-it-yourself (DIY) activities and gardening, the demand for garden power tools will increase in the individual consumer segment during the forecast period.
“Hand tools are mainly used by the residential end-user segment of the global garden and lawn tools market. Some of the popular tools in this segment are garden forks, rakes, spanners, pliers, wrenches, and hook cutters,” says Poonam.
The growing DIY trend and the expanding home improvement market is predicted to drive the demand for garden hand tools over the forecast period. Also, the lower price point of these products is appealing to a larger consumer base, resulting in increased adoption.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Robert Bosch
- The Toro Company
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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