Report Buyer, the online destination for business intelligence for major industry sectors, has added a market report.
(1888PressRelease) September 02, 2009 - According to the report “World Power Lawn & Garden Equipment: Industry forecasts for 2013 & 2018” available at www.reportbuyer.com/go/FED00037 worldwide demand for power lawn and garden equipment is projected to expand nearly three percent annually through 2013 to exceed $18 billion. Despite being presently mired in a recession, the bedrock US market will provide the best opportunities, accounting for slightly over one-half of the additional demand generated between 2008 and 2013. Recovery in US demand will reflect a turnaround in the current housing crisis, as well as continued enthusiasm for gardening by US consumers. US power lawn and garden equipment sales will also benefit from the introduction of improved products, such as cordless electric models.
On a regional basis, North America and Western Europe will continue to be the dominant markets, with nearly 90 percent of demand in 2013. Consumers in these developed nations have high per-capita income levels which allow for discretionary purchases such as power lawn and garden equipment. These areas are also home to the vast majority of the world’s golf courses, which are major consumers of power lawn and garden equipment.
Strongest per annum gains are expected in the developing areas of Asia. However, the region will remain small by global standards, with less than five percent of demand in 2013. Demand throughout much of Asia is limited by low income levels, with most consumers unable to afford power lawn and garden equipment for home use. Low wages also dampen professional demand, since the low cost of labor encourages the use of manual equipment in landscaping applications. Even the prosperous nation of Japan is a relatively small market. Most Japanese do not have yards or gardens of sufficient size to justify the use of power equipment.
The residential market accounted for nearly two-thirds of power lawn and garden equipment sales in 2008. The size of the residential market results from its dominance in developed markets such as that in the US. Gains in this segment will benefit from rising personal expenditure levels. The commercial market is larger in most developing nations, as well as in Japan. Demand in the commercial market will benefit from the rising number of golf courses and professional landscapers. Professional landscapers will find increased demand to service both residential and commercial properties.
The report “World Power Lawn & Garden Equipment: Industry forecasts for 2013 & 2018” is available from Report Buyer at:
http://www.reportbuyer.com/consumer_goods_retail/house/garden/world_power_lawn_garden_equipment.html
Report Buyer product ID: FED00037
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Report Buyer, the online destination for business intelligence for major industry sectors, has added a market report. 
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