Abstract
Global demand to exceed $18 billion in 2013
Worldwide demand for power lawn and garden equipment is projected to expand
nearly three percent annually through 2013 to exceed $18 billion. Despite
being presently mired in a recession, the bedrock US market will provide the
best opportunities, accounting for slightly over one-half of the additional
demand generated between 2008 and 2013. Recovery in US demand will reflect a
turnaround in the current housing crisis, as well as continued enthusiasm for
gardening by US consumers. US power lawn and garden equipment sales will also
benefit from the introduction of improved products, such as cordless electric
models.
North America to remain dominant regional market
On a regional basis, North America and Western Europe will continue to be the
dominant markets, with nearly 90 percent of demand in 2013. Consumers in these
developed nations have high per-capita income levels which allow for
discretionary purchases such as power lawn and garden equipment. These areas
are also home to the vast majority of the world' s golf courses, which are
major consumers of power lawn and garden equipment.
Strongest per annum gains are expected in the developing areas of Asia.
However, the region will remain small by global standards, with less than five
percent of demand in 2013. Demand throughout much of Asia is limited by low
income levels, with most consumers unable to afford power lawn and garden
equipment for home use. Low wages also dampen professional demand, since the
low cost of labor encourages the use of manual equipment in landscaping
applications. Even the prosperous nation of Japan is a relatively small
market. Most Japanese do not have yards or gardens of sufficient size to
justify the use of power equipment.
Rising personal expenditures to benefit dominant
residential market The residential market accounted for nearly two-thirds of
power lawn and garden equipment sales in 2008. The size of the residential
market results from its dominance in developed markets such as that in the US.
Gains in this segment will benefit from rising personal expenditure levels.
The commercial market is larger in most developing nations, as well as in
Japan. Demand in the commercial market will benefit from the rising number of
golf courses and professional landscapers. Professional landscapers will find
increased demand to service both residential and commercial properties.
Study coverage
This new Freedonia industry study, World Power Lawn & Garden Equipment,
presents historical demand data (1998, 2003 and 2008) plus forecasts for 2013
and 2018 by product (e.g., lawnmowers, turf and grounds equipment, trimmers
and edgers), market (commercial, residential), world region and for 22
countries. The study also considers key market environment factors, evaluates
company market share data and profiles industry competitors worldwide.
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