Global Power Lawn and Garden Equipment Demand to Approach $19 Billion

World power lawn and garden equipment demand is forecast to rise 4.8 percent yearly to $18.9 billion in 2015.  Overall growth in equipment sales will be promoted by an improvement in housing activity in the key US and West European markets.  While industry sales will post a strong rebound through 2015, longer-term growth will be more moderate due to slowing product pricing gains.  Opportunities will exist in the golf industry outside the US, as participation rates are expected to grow due to rising standards of living and a continued emphasis on golf tourism.    These and other trends, including market share and product segmentation, are presented in World Power Lawn & Garden Equipment, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

Despite a sluggish outlook in the shorter term, the bedrock US market will provide the best opportunities, accounting for over 60 percent of the additional demand generated through 2015.  North America and Western Europe will continue to be the dominant markets, together comprising over 85 percent of demand in 2015.  These areas are home to the vast majority of the world’s golf courses, which are major consumers of power lawn and garden equipment.

Among product groups, lawnmowers will continue to comprise the largest percentage of sales.  Demand for lawnmowers will benefit from the upturn in new housing units in the US and Western European markets.  Turf and grounds equipment is expected to post the fastest gains, due to continuing growth in the number of professional landscapers in developed countries.  Aging populations in the US and throughout Europe will boost this trend.  Trimmers and edgers, like lawnmowers, will benefit from their widespread use in both residential and commercial markets. 

Between the two types of power sources, demand for electric lawn and garden equipment will grow at a faster pace, spurred by gains for battery-powered electric equipment.  Suppliers are promoting growth in this segment by incorporating more effective battery technologies into their products and introducing electric options into new product categories such as riding mowers.  However, gasoline-powered equipment (including diesel engines) will continue to lead industry sales by value, a reflection of their dominance in the key US market and within high value product categories. 

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.