Lawn & Garden Equipment Market Segmentation:
Product Type Segment Analysis
Lawn mowers segment in the lawn & garden equipment market is poised to register high growth till 2035. One element driving the market's growth is the quick adoption of technologically sophisticated equipment that offers customers greater comfort and convenience. Handheld power tools include leaf blowers, chainsaws, trimmers, and edgers. The necessity for lightweight, ergonomic equipment as well as the post–medium–term drop in Li–ion battery prices brought on by the crisis in Russian Ukraine are expected to propel the market.
Sales Channel Segment Analysis
E-commerce segment is estimated to dominate over 36% lawn & garden equipment market share by 2035. The bulk of OEM sales are made through third–party channels. The COVID–19 outbreak caused a temporary shutdown of hardware and home center stores, which resulted in a slight reduction in sales for the third–party channel sector. A compound annual growth rate (CAGR) of 6.4% is predicted for the home center segment over the projection period.
Online retail makes up the direct channel and will generate 15.15% of market revenue in 2021. Over the course of the projected period, it is anticipated that the growing preference of manufacturers for e–commerce platforms to boost their market presence and carry out commercial activities easily would support market expansion.
End–User Segment Analysis
By 2035, residential segment is poised to dominate over 52% lawn & garden equipment market share. The demand for garden equipment in the residential sector increased during the anticipated period. Demand is thought to have increased due to the rise in single–family houses and the increase in gardening equipment sales through internet channels.
In addition, the demand for gardening equipment in the domestic sector has increased due to the popularity of do–it–yourself backyard landscaping projects. In 2018, the average sales income of products in the home gardening business increased by 4.62% compared to the previous year. In 2020, two years later, the yearly growth rate almost doubled to 8.79%.
Additionally, sustainable home farming and gardening trends are increasing consumer requirements for more sophisticated tools to support the growth of vegetation in lawns & gardens. Furthermore, growing public awareness regarding holistic health and well–being has resulted in a high prevalence of vegetable gardening. Combined, these factors will fuel the residential applications of such equipment.
Our in-depth analysis of the global market includes the following segments:
|
Product Type |
|
|
Sales Channel |
|
|
End-User |
|
