World power lawn and garden equipment demand is forecast to rise 4.8% yearly to $18.9 billion in 2015. Overall growth in equipment sales will be promoted by an improvement in housing activity in the key U.S. and West European markets.
While industry sales will post a strong rebound through 2015, longer-term growth will be more moderate due to slowing product pricing gains. Opportunities will exist in the golf industry outside the U.S., as participation rates are expected to grow due to rising standards of living and a continued emphasis on golf tourism. These and other trends are presented in World Power Lawn & Garden Equipment, a new study from The Freedonia Group Inc., a Cleveland-based industry research firm.
Despite a sluggish outlook in the shorter term, the bedrock U.S. market will provide the best opportunities, accounting for over 60% of the additional demand generated through 2015. North America and Western Europe will continue to be the dominant markets, together comprising over 85% of demand in 2015. These areas are home to the vast majority of the world’s golf courses, which are major consumers of power lawn and garden equipment.
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 U.S. and Western European markets. Turf and grounds equipment is expected to post the fastest gains, due to continuing growth in the number of professional landscapers in developed countries. Aging populations in the U.S. and throughout Europe will boost this trend. Trimmers and edgers, like lawnmowers, will benefit from their widespread use in both residential and commercial markets.
Between the two types of power sources, demand for electric lawn and garden equipment will grow at a faster pace, 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 lead industry sales by value, a reflection of their dominance in the key U.S. market and within high-value product categories.
