Gardening Tools to reach a market valuation of close to US$ 9.6 Bn by 2031
NEW YORK, Jan. 31, 2022 /PRNewswire/ -- Global gardening tools market sales are set to be valued at US$ 6 Bn in 2021, with steady long-term projections, according to latest insights by Persistence Market Research. The report estimates the market to expand at 4.8% CAGR from 2021 to 2031. Constant demand for landscaping from the commercial farming and agriculture, recreational centre, public institution, office and business space sectors is driving market expansion.
With increasing consumer spending capability and per capita disposable income, increased expenditure on leisure activities is expected over the coming years. People also spend time and money on gardening and gardening tools in order to keep up to a standard due to social pressure. Considering the increase in spending on gardening and lawn care, the gardening tools market, especially in developing countries, will experience favorable demand.
Key Takeaways:
- By operating type, the electric tools segment is expected to witness prominent growth. Companies are developing environment-friendly batteries for outdoor usage.
- By product type, demand for hedge trimmer tools is projected to increase at 3.8% CAGR by volume during the period of 2021 to 2031.
- By region, North America and East Asia are anticipated to witness substantial growth gardening tool sales. Among all the countries, sales in the U.S. and China are expected to increase at the highest CAGR in terms of value.
- By sales channel, online sales is anticipated to hold a prominent share of 44.9% in the global market.
- By end use, the commercial sector is expected to grow Y-o-Y of 3.5% in 2021.
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"Demand for gardening tools is highly driven by seasonal consumer preferences; however, in the past few years, private consumption has risen. Most users have switched to DIY gardening. Overall growth is driven by expansions in both, commercial and residential segments. Newly developed electric gardening tools will boost market growth," says a Persistence Market Research analyst.
Competitive Landscape
Leading manufacturers of gardening tools include Stanley Black & Decker, Inc., The Ames Companies Inc., CobraHead LLC, Estwing Manufacturing Company, Seymour Midwest LLC, Bully Tools, Inc., Zenport Industries, Ray Padula Holdings, LLC, Root Assassin Shovel LLC, Lee Valley Tools Ltd., Garden Tool Company, Fiskars Group, Husqvarna Group, and FELCO S.A.
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To gain a competitive edge in the market, players are focusing on research & development to launch new variants of tools. Apart from this, players are investing in strategic collaborations, mergers, and acquisitions to expand their global footprint.
For instance:
- In December 2019, The Ames Companies, Inc. acquired Vatre Group Limited, a leading U.K.-based supplier of innovative garden pottery and associated products to leading U.K. and Ireland garden centers.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global gardening tools market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, product type, end use, operating type, sales channel, and region. The report also provides supply and demand trends along with an overview of the parent market.
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