CLEVELAND, Jan. 11, 2018 — Global demand for power lawn and garden equipment is forecast to grow 2.5% per year to $24.2 billion in 2021. Demand for power lawn and garden equipment will remain heavily concentrated in the US, Canada and Western Europe, which will together account for 75% of the total global increase in sales between 2016 and 2021. These and other trends are presented in Global Power Lawn & Garden Equipment, 6th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here: https://www.freedoniagroup.com/industry-study/global-power-lawn-garden-equipment-by-product-power-source-market-and-region-3640.htm
Demand for power lawn and garden equipment in the US is forecast to rise 2.7% per year, in line with global average growth. Continued recovery in the construction sector will contribute to increased sales. However, an expected decline in the number of golf courses in the country will have an adverse impact on demand.
Demand for power lawn and garden equipment in Canada totaled US$1.1 billion in 2016, making Canada the world's fourth largest national market for these products behind the US, France and Germany. Similar to the US, Canada is an intensive user of power lawn and garden equipment (on a per household basis), reflecting large yard sizes and high levels of disposable income.
Western Europe accounts for a large share of the global power lawn and garden equipment market relative to its population size, reflecting the importance of cultural preferences for lawn maintenance in supporting demand. Most countries in Western Europe have mature power lawn and garden equipment markets, and growth will be sluggish by global standards through 2021. A regionwide emphasis on environmental friendliness will contribute to rapid growth in demand for battery-powered products, which already have high rates of penetration by global standards.
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About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Machinery & Equipment studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group
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