Market overview:
The gardening tools market is projected to register a CAGR of 4.51% and reach a value of USD 112.09 billion by 2027.
The growing demand for gardening equipment in commercial settings such as sports grounds, golf courses, and construction is driving the global gardening tools market. The increasing number of public parks in cities and government regulations governing their upkeep is expected to increase the use of gardening tools. Growing environmental awareness and increased gardening in residential complexes are driving the global industry forward. The growing use of gardening tools and equipment for residential and commercial purposes propels the gardening tools market forward. Gardening or lawn care is a popular leisure activity for the elderly, contributing to household demand for gardening tools. Furthermore, the increasing use of technologically advanced gardening equipment that saves time, money, and energy is expected to drive the global Gardening tools Market forward.
The COVID-19 pandemic has had a negative impact on the gardening tools market and is expected to continue to do so. The COVID-19 pandemic and the resulting economic uncertainty harmed the gardening tools market in most geographies and across a wide range of customers. In response to COVID-19, governments worldwide have implemented measures such as travel bans, business closures, bans on group events and gatherings, shelter-in-place orders, curfews, and recommendations to practice social distancing. These restrictions have weakened activity and forced the temporary closure of manufacturing facilities.
Market segmentation:
The Global Gardening Tools Market is segmented based on product type, end-use, tool holder and distribution channel.
According to the product type:
- Chain Saw
- Lawn Mowers
- Vacuums & Sweepers
- Blowers
- Striking & Digging Tools
- Pruning Tools
- Others
According to the end-use:
- Residential
- Commercial
According to the tool holder:
- Hand Tools
- Engine Tools
According to the distribution channel:
- Non-Store-Based
- Store-Based
Regional analysis:
The Global Gardening Tools Market is divided into North America, Asia-Pacific, Europe, and the Rest of the World.
North America had the largest gardening tools market share in 2020. During the forecast period, the regional market is expected to expand at a CAGR of 4.10%. North America dominates the market share with the growing demand for gardening tools. Industry players are making acquisitions to expand their product portfolios. As a result, the major factors expected to propel the gardening tools market in North America are geographic and political changes, demographic suitability, and the deployment of advanced technology.
Europe contributes significantly by increasing community participation in green spaces and landscaping expenditures. Increased emphasis on product development and R&D by industry players to gain market share will aid market growth. Furthermore, with technological advancements, rising disposable income in the region, and an aging population spending more time in gardens, sales of gardening tools will skyrocket during the review period.
Recent Developments
Few developments that occurred in recent times influencing the market growth of gardening tools are listed below:
- In August 2019, Stanley Black & Decker acquired the remaining 80 percent ownership stake in MTD Holdings Inc. The acquisition is aimed to increase the presence and manufacturing capacities of the company.
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