The world is going green in more ways than one! As people continue to embrace the joys of gardening and outdoor spaces, the lawn and garden watering equipment market is soaring. Here’s everything you need to know about this booming industry.
The Green Numbers: Growth Like Never Before
According to a recent report by Allied Market Research, the global lawn and garden watering equipment market is on a rapid rise. Here are some key takeaways:
- Projected Market Size by 2032: A whopping $40.9 billion!
- Growth Rate: An impressive Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to 2032.
- Past Year’s Performance: The market stood at $24.7 billion in 2022.
What’s Fueling the Growth?
Water Efficiency and Gardening Trend
The increasing demand for water-efficient products combined with the growing popularity of gardening are major drivers. But like all industries, there are challenges:
- Global water shortages: This can restrict the growth of this market.
- Limited green spaces: Especially in urban environments, the lack of green space is a concern.
Yet, all is not gloomy! There’s a bright side:
- Smart watering systems: Their rising popularity is a beacon of hope for the future.
- Outdoor living spaces: More people want their own slice of outdoor paradise, further boosting demand.
Digging Deeper: Market Segmentation
By Product Type
- Garden Machinery: Topping the charts in 2022, garden machinery continues to be a favorite.
- Watering Tools: Expected to witness the highest growth, with a CAGR of 5.9% from 2023 to 2032.
By Control Type
- Semi-Automatic: Holding the lion’s share in 2022, these tools are a sweet spot between manual and fully automated systems.
- Automatic Systems: With concerns about sustainability, these systems are quickly becoming popular, boasting a projected CAGR of 5.7% from 2023 to 2032.
- Residential: With the surge in home gardening trends, residential usage holds nearly three-fifths of the market revenue in 2022.
- Commercial: Not far behind, with a projected CAGR of 5.5% from 2023 to 2032.
A Global Perspective
While North America currently dominates the market, the Asia-Pacific region is hot on its heels with the fastest expected CAGR of 6.0% from 2023 to 2032.
Movers and Shakers: Key Market Players
Companies like WOLF-Garten, Gardena GmbH, Fiskars Group, and KUBOTA Corporation are some of the key players shaping the future of the industry.
Want More Details?
For a more detailed dive into this report, check out the full report here.
The lawn and garden watering equipment industry is more than just numbers; it’s about embracing a sustainable, green future. Whether you’re an industry player, an avid gardener, or just someone with a budding interest, these trends are reshaping the way we think about green spaces.
About Allied Market Research: A premier market research and business-consulting firm, Allied Market Research offers insights to help clients make informed business decisions.