World Power Lawn & Garden Equipment
World demand to rise 4.8% annually through 2015
Worldwide power lawn and garden equipment market 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,
longerterm growth will be more moderate due to slowing product pricing gains and
declining opportunities in some key commercial markets, particularly golf
courses. Opportunities will exist in the golf industry outside the US, as
participation rates are expected to rise due to rising standards of living and a
continued emphasis on golf tourism.
Despite a sluggish outlook in the shorter term, the bedrock US market will provide the best opportunities, accounting for 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. Consumers in these developed nations have high per capita income levels, which allow for discretionary purchases such as power lawn and garden equipment. These areas are also home to the vast majority of the world’s golf courses, which are major consumers of power lawn and garden equipment.
Lawnmowers to remain largest product segment
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 key US and West European markets. Turf and grounds equipment is expected to post 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.
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Among power sources, demand for electric lawn and garden equipment will grow at a faster pace than gaspowered types, 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 dominate industry sales by value, a reflection of their dominance in the key US market and within high value product categories.
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