Global Market Study on Turf Care Equipment: Lawn Mowers to Remain Highly Sough-after for Maintenance of Commercial Lawns and Turfs
Global turf care equipment sales are set to be valued at US$ 12.6 Bn in 2021, with a stable long-term projection, according to latest insights from Persistence Market Research. The report estimates the global turf care equipment market to expand at a steady CAGR of over 4% during 2021-2031.
As far as all the types of turf care equipment are concerned, mowers are the most sought-after across facilities and regions. Demand for energy-efficient and advanced equipment is also rising, with many small- and medium-sized business emerging, especially in developing regions. This is the reason why commercial lawns and turfs hold a high market share, with the trend expected to continue throughout the period of forecast.
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Key Takeaways from Study
“Upsurge in demand for lawn mowers in recent years from various end-use segments is expected to provide an impetus to turf care equipment sales. Substantial increase in the penetration of autonomous and connected mowers technology has brought about a shift from conventional lawn mowers to high-tech equipment, says a Persistence Market Research analyst.
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Competitive Landscape
The market is moderately consolidated in nature, with key players accounting for more than half of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Husqvarna AB, Honda Motor Co., Deere & Company, The Toro Company, MTD Products, Inc., Kubota Corporation, Briggs & Stratton Corporation, and BLACK+DECKER Inc.
Market Projections
The market is likely to grow at a moderate pace during 2021-2031. However, as it is a much concentrated market, companies are expected to focus more on development of markets in different regions across the globe and expand their business. Moreover, there is also an observed major trend of many manufacturers around the globe who are focusing more on acquisitions in order to gain a larger market share and fervent their sales figures egregiously.
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Find More Valuable Insights
The research report analyzes demand for turf care equipment. The market has been analyzed with the COVID-19 impact, macroeconomic factors, market trends, and market background. As per Persistence Market Research’s research scope, the market has been analyzed on the basis of equipment type, fuel, end use, and region. The report gives qualitative and quantitative information on various players in this market. It also tracks the market by both, supply side and demand side.
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Jul 01, 2022