Landscaping Tools Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Landscaping Tools Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The Landscaping Tools Market size is expected to grow from USD 30.82 billion in 2023 to USD 39.34 billion by 2028, at a CAGR of 5% during the forecast period (2023-2028). Key HighlightsOver the long run, the increasing trend of urban gardening and landscaping in residential and commercial projects in developed and developing countries, coupled with the launch of innovative landscaping tools by major market players, may propel the growth of the landscaping tools market during the forecast period.Many countries worldwide have been shifting to an organic, eco-friendly environment by installing indoor/urban gardening. Hence, customers interested in indoor/urban gardening may boost the sales of landscaping tools used for gardening, such as small hand tools and power tools.Among the regions, North America is the major dominating market due to the increased spending on lawn and gardening tools, rising awareness about the benefits of growing your own food, increasing health consciousness, and the availability of advanced technology.Landscaping Tools Market TrendsGrowing Trend of Kitchen/Indoor Gardening Indoor/kitchen gardening is a practice of growing crops in residential houses to meet household requirements. This trend has raised the demand for landscaping tools that provide consumers with easy and convenient measures for gardening. Established companies are offering consumers solutions for growing fresh fruits and vegetables in their own homes. New and emerging companies are noticing the potential in the market and expanding their businesses in the new provinces where the demand for indoor kitchen gardening is high. According to the Ministry of Statistics and Program Implementation (MoSPI), the gross value from the kitchen gardens has been increasing every year in India, thus creating an opportunity to increase the sales of landscaping tools in the Indian market. Also, the escalating expenditure on garden tools may boost the demand for landscaping tools worldwide during the forecast period.North America Dominates the Market Landscaping and lawn care is a booming business in North America. This sector is a low-cost and high-sweat-equity profession that offers immigrants and first-generation Americans a starting point and a gateway into the mainstream economy. The growth of this industry has a favorable impact on the use of landscaping tools. About 80% of the US population stays in urban areas. With the increasing environmental concerns, the people in the country are focusing on a green backyard for better quality air and recreational activities, indicating an increase in the popularity of landscaping in the country and driving the use of gardening tools. The increasing standard of living and improved lifestyle of the Canadian urban population are two major factors forcing corporate offices to go for landscaping in their open spaces. It has been observed that a beautified office has a positive impact on its employees. Landscaping is also known to improve the value of the property. Thus, most real estate companies are spending on improving the area around the property and expanding the landscaped area in the region. Landscaping in Canada has become one of the many forms of eco-tourism. Hotels earn about USD 6-7 million annually in additional revenue from guests willing to pay extra to overlook the green space. Hence, more hotels are willing to use landscaping in and around their buildings. Therefore, policy changes, geographic and demographic suitability, and the use of advanced technology are the major factors expected to drive the market for landscaping tools in North America.Landscaping Tools Industry Overview The landscaping tools market is fairly consolidated with many large, small, and medium-sized manufacturers. The top players in the market include Andreas Stihl AG & Co. KG, Husqvarna AB, MTD Products Inc., Robert Bosch GmbH, Stanley Black & Decker Inc., Honda Power Equipment, and The Toro Corp. Product innovations and acquisitions are the primary strategies followed by these companies to increase their market share and improve their production capabilities using innovative technology.Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Please note: The report will take approximately 2 business days to prepare and deliver.