Gardening Tools Market to Proliferate Due to Rising Demand from Commercial End-Use Sector: Persistence Market Research
NEW YORK CITY, UNITED STATES, USA, Jan. 31, 2022 /EINPresswire.com/ — Global gardening tools market sales are expected to be valued at US$6 billion in 2021, with stable long-term projections, according to the latest information by Persistence Market Research. The report estimates that the market is expected to grow at a CAGR of 4.8% from 2021 to 2031. The steady demand for landscaping from commercial agriculture and agriculture sectors, recreation centers, public institutions, office and commercial space stimulates the expansion of the market.
With increasing consumer spending capacity and per capita disposable income, an increase in spending on leisure activities is expected in the coming years. People also spend time and money on gardening and gardening tools in order to keep up due to social pressure. Considering the increase in gardening and lawn care expenses, the gardening tools market, especially in developing countries, will witness a favorable demand.
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Key points to remember:
By type of operation, the power tools segment is expected to experience significant growth. Companies are developing environmentally friendly batteries for outdoor use.
By product type, the demand for hedge trimmer tools is expected to grow at a CAGR of 3.8% in volume during the period 2021 to 2031.
By region, North America and East Asia are expected to see substantial growth in gardening tool sales. Among all countries, sales in the United States and China are expected to grow at the highest CAGR in terms of value.
By sales channel, online sales are expected to hold a significant share of 44.9% in the global market.
By end use, the commercial sector is expected to grow 3.5% annually in 2021.
“The demand for gardening tools is strongly influenced by seasonal consumer preferences; however, in recent years private consumption has increased. Most users have moved on to DIY gardening. Overall growth is driven by expansions in the commercial and residential segments. The newly developed electric garden tools will drive the growth of the market,” says an analyst from Persistence Market Research.
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Major garden tool manufacturers 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 SA
To gain a competitive edge in the market, the players are focusing on research and development to launch new tool variants. Apart from this, players are investing in strategic collaborations, mergers and acquisitions to expand their global footprint.
In December 2019, The Ames Companies, Inc. acquired Vatre Group Limited, a leading UK supplier of innovative garden pottery and related products to leading garden centers in the UK and Ireland.
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More valuable information about the offer
Persistence Market Research, a research and advisory firm, has published a new market research report on the global garden tools market that contains industry analysis from 2016-2020 and opportunity assessment for 2021- 2031.
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