- The key vendors in the power lawn and garden equipment market in the US 2015-2019 are Deere & Co., Husqvarna AB, MTD Products Inc., and Toro Co. Inc.
London, 4 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the power lawn and garden equipment market in the US 2015-2019. The recent increase in marketing activities by vendors is a key trend that is observed in this market. Marketing of the power lawn and garden equipment involves finding appropriate channels of distribution, creating effective advertising, and pricing the products aggressively. This market is expected to grow at a CAGR of 4.73% during the forecast period of 2014-2019.
Market growth in the residential segment is primarily driven by the increase in gross domestic product (GDP) and the presence of a strong US housing market. Additionally, the establishment of new golf courses has led to revenue generation through landscaping. Foreign trade also has a significant impact on market growth as exports generally account for a large share of industry inputs in the US.
“Advances in battery technologies, including improved performance and better prices of lead acid and lithium-ion rechargeable battery packs, have allowed manufacturers to develop cordless electric mowers and other equipment for which mobility is a key factor,” says Faisal Ghaus, Vice President of Technavio Research.
“The introduction of robotic and battery-powered outdoor lawn mowers has increased sales on both a per-unit basis and overall market basis.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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