Consumer demand for lawnmowers, trimmers, edgers, rotary tillers and other outdoors power equipment (OPE) is expected to grow over the next several years as spending rebounds from the 2007 to 2009 recession, according to new research from the Freedonia Group.
The new study, "Power Lawn & Garden Equipment,” predicts that the U.S. demand for power lawn and garden equipment will increase approximately 5.7% yearly to about $10.4 billion in 2015. The U.S. power lawn and garden equipment industry is currently valued at $7.9 billion. Factors contributing to the increase in sales include improvement in the U.S. housing market, as both new construction and the sale of existing homes will boost OPE sales. A return to growth in the landscaping services market will also bode well for power lawn and garden sales.
During the recent recession, many residential do-it-yourself consumers postponed equipment purchases. But as the economy continues to improve and homeowners return to greater discretionary spending, residential OPE users will make a strong turnaround. The fastest regional gains will be posted in the South and Midwest.
The report also predicts that sales to commercial sectors will grow more slowly than to residential markets through 2015, although higher value commercial equipment will boost demand. Over the longer term, equipment demand in the golf course segment will be inhibited by the declining number of courses, the Freedonia report said.
Although demand will pick up across all categories, the fastest growers will be turf and grounds equipment, garden tractors, and rotary tillers. Lawnmowers come next, with a projected annual growth rate of 6.5% through 2015.[Source: "Power Lawn & Garden Equipment: U.S. industry forecasts to 2015." Freedonia Group. Apr. 2011. Web. 3 May 2011.]