The global market for gardening and agriculture equipment is set to grow from $49.4 billion in 2024 to $66.7 billion by 2030, representing a compound annual growth rate (CAGR) of 5.2%. This market growth is fueled by several key trends and technological advancements.
Key Market Drivers and Trends
Technological advancements are playing a significant role in shaping the industry. The introduction of autonomous machinery, AI-based decision-making tools, and precision farming equipment has revolutionized agricultural efficiency. These innovations reduce labor costs and boost productivity by optimizing processes from planting to harvesting.
Sustainable farming practices are also driving demand for eco-friendly equipment. As the agricultural sector faces pressure to combat climate change, there is a growing need for equipment that minimizes emissions, conserves water, and promotes soil health. Additionally, urban farming and the increasing popularity of community gardens are fueling demand for compact and versatile gardening tools.
The COVID-19 pandemic has further contributed to the growth of the market. Many people turned to home gardening for self-sufficiency during lockdowns, which led to a surge in the demand for gardening tools and small-scale agricultural equipment.
Government subsidies and incentives aimed at modernizing farming equipment are encouraging farmers to invest in cutting-edge technologies, driving further market growth. These factors, along with a growing focus on food security and sustainable agriculture, are creating strong opportunities for market expansion.
Market Segmentation and Geographic Insights
The report highlights various segments of the gardening and agriculture equipment market, including different equipment types such as walk-behind wheeled string trimmers, chipper and shredders, and 3-point tractor implements. It also covers two primary applications: agriculture and horticulture, as well as gardening.
Geographically, the U.S. market is valued at $12.8 billion in 2024, while China is projected to experience significant growth, reaching $15.2 billion by 2030 with a CAGR of 8.1%. Other regions such as Japan, Canada, and Germany are also showing positive growth trends.
Growth in Key Market Segments
Among the key segments, the walk-behind wheeled string trimmers segment is expected to reach $20.4 billion by 2030, growing at a CAGR of 5.9%. The chipper and shredders segment is also forecasted to grow at a 4.6% CAGR.
Leading Market Players
The report features profiles of 42 major companies in the industry, including AGCO Corporation, Andreas Stihl AG & Co. KG, Deere & Company, and Honda Motor Co. Ltd. These companies are well-positioned to take advantage of the growing demand for innovative gardening and agricultural equipment.
Conclusion
The global gardening and agriculture equipment market is poised for significant growth in the coming years. With advancements in technology, the shift toward sustainable practices, and increased consumer demand, this sector is set to play a crucial role in shaping the future of farming and gardening worldwide.
