August 15, 2022 15:00 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, Aug. 15, 2022 (GLOBE NEWSWIRE) -- As per Fact.MR’s research analysis on gardening equipment, top suppliers include The Ames Companies Inc., Estwing Manufacturing Company Inc., Alamo Group Inc., Briggs and Stratton Corp., The Toro Co., Kubota Corp., and Robert Bosch GMBH, and collectively accounted for close to 50% share of global revenue in 2020.
Over the past half-decade, gardening equipment sales increased at a modest CAGR of around 5%, with developed countries such as the U.S., U.K., and Germany experiencing robust growth in terms of revenue.
Increasing landscaping activities coupled with surge in commercial and residential projects has been a major reason behind market expansion. For instance, it has been projected that, the housing market will see sales to go up by 7% by the end of 2021, an incremental increase of 1.2% as compared to 2020.
Moreover, technological advancements such as the development of hybrid lawn mowers, lawn aerators, and power tools have added to market growth, as more and more consumers now prefer equipment that is efficient for fuel and energy consumption.
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Key Takeaways from Market Study
Market players are investing in automation and digitalization, and are focusing on consumer-centric approaches. Additionally, high spending on R&D and innovation is what has given a competitive edge to numerous companies and improved their revenue bars.
Key Points Covered in Gardening Equipment Market Report:
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Competitive Landscape as per Gardening Equipment Industry Survey
Key market players have mainly relied on a mix of organic and inorganic growth strategies such as product launches, collaboration, acquisitions, and capacity expansion.
Some of the key developments are:-
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Fact.MR, in its new offering, presents an unbiased analysis of the global gardening equipment market, presenting historical demand data (2016-2020) and forecast statistics for 2021 to 2031.
The study divulges essential insights on the market based on product (hand tools, cape cod weeders, paving weeders, fishtail weeders, shears and snips, lawnmowers and trimmers, and edgers), end use (residential gardening equipment and commercial gardening equipment), and distribution channel (online sales, retail sales, and distributor sales), across six major regions of the world (North America, Latin America, Europe, Japan, APEJ, and MEA).
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