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World demand to rise over 4% annually through 2017
Worldwide demand for power lawn and garden equipment is forecast to rise more than four percent per year through 2017 to well over $20 billion. Growth in equipment sales will be supported by a recovery in the massive US market that will lead to increased spending on durable consumer goods and landscaping services. Demand will also rebound in Western Europe as the construction of new housing climbs following the Euro zone economic troubles in 2012. In developing areas of the world, particularly the Asia/Pacific region, sales of outdoor power equipment will be stimulated by households that will increasingly seek out multifamily residential properties with associated lawns and/or gardens, spurring growth in commercial lawn care equipment.
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US, Canada, Western Europe to remain dominant markets
While power lawn and garden equipment sales in developing nations will record the largest advances in percentage terms through 2017, the US, Canada and Western Europe will continue to account for the vast majority of world demand. Consumers in these developed nations have high income levels that allow for discretionary purchases like power lawn and garden equipment, and landscaping services that utilize this equipment. Additionally, countries such as Canada, the United Kingdom, and the US have strong residential lawn and garden care cultures, and the lion’s share of golf courses worldwide are located in these three nations.
Turf & grounds equipment to be fastest growing
Lawnmowers will continue to account for the biggest portion of sales among all product groups, owing primarily to the large number of homeowners that possess and maintain their own lawns in the US, Canada and Western Europe. In these areas, a lawnmower is considered an essential appliance for most homeowners, as these products are the only way to efficiently manicure a larger lawn. Turf and grounds equipment is expected to post the fastest market gains, driven by recoveries in the professional landscaping industries in many developed nations. Furthermore, a continuing trend toward urbanization of developing nations, including those in Asia and South America, will boost the use of public parks and other green spaces, increasing maintenance needs and bolstering demand for related equipment. Sales of aftermarket parts and attachments will rise at a slower rate than demand for new equipment, as economic growth in the US and Western Europe will boost per capita incomes, and prompting many users to discard older units that require repair and maintenance.
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Commercial applications to experience fastest gains
Residential demand for power lawn and garden equipment will continue to account for the majority of all sales globally through 2017. However, demand for outdoor power equipment for commercial applications will grow at a faster pace going forward, fueled primarily by a recovery in the professional landscaping industries in industrialized nations. As technologies for batteries and electric motors continue to improve and the use of large battery-powered equipment becomes more economically viable, market expansion for electric equipment will outpace that for internal combustion engine-powered machinery. The growing popularity of robotic mowers will also contribute to gains in electric outdoor power equipment.
Profiles global players including Deere, Husqvarna, MTD Products, STIHL & Toro
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