Published Date : Apr 04, 2017
ALBANY, New York, April 4, 2017 - MarketResearchReports.biz has recently added a report, titled, “Global Garden Tools Market 2017-2021,” to their offerings. The report finds that with the global economy gradually gathering steam after the economic downturn, the expenditure on garden and lawn care equipment has received a major boost. In the years ahead too, this momentum will hold owing to demand for landscaping and greater disposable income in advanced countries.
Other factors stoking growth in the market are soaring take-up of gardening as a hobby, product innovations, and technological advancements. Besides, new houses coming up, the popularity of green roofs and growing number of golf courses, parks, and public gardens are also pushing up demand in the market. Countering the growth in the market is the rising usage of synthetic grass and sports turf, seasonal business and stiff competition in terms of pricing and product differentiation.
The report forecasts the global market for garden tools to grow at a CAGR of 4.97% from 2017 to 2021. Some of the noticeable trends in the market are the soaring popularity of ergonomic designs and multi-purpose tools and popularity of gardening in developing regions.
Having thrown light on the growth drivers and restraints, the report goes on to segment the global market for garden tools on the basis of products into lawn mowers market, power tools market, hand tools market, and garden accessories market. Depending upon end-users, the market can be divided into residential garden and lawn tools market and commercial garden and lawn tools market.
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Geographically, the major regions studied in the report are North America, Europe, and the Rest of the World. Among them, North America grosses maximum revenue and would continue doing so in the years ahead as well on the back of soaring popularity of landscaping activities among consumers in the region. Further, the improving U.S. economy that has once again bolstered the housing market is also positively impacting the market.
The report assesses the market to arrive at its current size and also predicts its possible size in 2021. To gauge the current competitive dynamics in the market, it sheds light on the current players and their strategies. At present, the global market for garden tools is witnessing stiff competition on account of the presence of many well-entrenched vendors who try to outsell one another on the basis of price, differentiation, quality, distribution, and promotion. This also serves to bring down their profit margins. As a result, savvy players are looking to make inroads into the relatively untapped emerging markets.
Some of the key players operating the global market for garden tools are Robert Bosch, the Toro Company, Husqvarna, MTD, Robert Bosch, and STIHL. The report examines their product offerings, sales, revenues, and market shares.
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