NEW YORK, Dec. 7, 2015 /PRNewswire/ -- Market outlook of the cordless garden tools
Technavios research analyst predicts the global cordless garden tools market to grow steadily at a CAGR of 5% during the forecast period. The rising need to add aesthetic appeal to residential and commercial properties around the world is a key driver for the growth of this market. Landscaping is believed to increase the value of a property by nearly 12%. The unfavorable weather conditions such as floods, dry summers, and heavy snowfalls create a demand for the repair of lawns, trees, hedges, and gardens, triggering a need for cordless garden equipment.
New trends such as hybrid lawn mowers are also expected to contribute to the market growth during the forecast period. Most electric ride-on mowers have a low battery capacity and have run times of about an hour. Hybrid mowers that have an onboard charging system can address this problem efficiently. For instance, the Raven MPV-7100 has a 420 cc engine that powers the onboard 7,100-watt generator. The generator powers the blades, outlets, and charges the batteries. The power outlet can supply power to up to 5 outlets, for 8 hours at half load on a full tank of gas.
Product segmentation and analysis of the cordless garden tools market
Trimmer and edger
Others (snow blowers, shrub shears, grass shears, and accessories like battery and battery charger)
The lawn mower segment dominated the market during 2015, accounting for a market share of around 36%. Battery-powered lawn mowers are portable, eco-friendly, and easy to start and maintain, thereby driving their popularity. The report anticipates this segment to retain its market leadership until the end of 2020. Geographical segmentation and analysis of the cordless garden tools market
North America accounted for 59% of the market share during 2015 and is expected to grow at a CAGR of 5% during the forecast period. The US is the market leader in this region. The increased production, import and export, and consumption of wood in this region is the key driver for its market dominance.
Competitive landscape and key vendors
The cordless tools market is dominated by key vendors. The competition among vendors is leading to the introduction of many innovative and advanced products. The report anticipates the competitive environment in the market to intensify further with an increase in product/service extensions, technological innovations, and mergers and acquisitions.
The leading vendors in the market are-
Deere & Co.
Other prominent vendors in the market include Briggs & Stratton, Emak, GreenWorks Tools, Hitachi, Honda, Makita, Stanley Black and Decker, STIHL, and Textron.
Key questions answered in the report include
What will the market size and the growth rate be in 2020
What are the key factors driving the global cordless garden tools market
What are the key market trends impacting the growth of the cordless garden tools market
What are the challenges to market growth
Who are the key vendors in this market space
What are the market opportunities and threats faced by the vendors in the global cordless garden tools market
Trending factors influencing the market shares of the APAC, Europe, North America and ROW
What are the key outcomes of the five forces analysis of the cordless garden tools market
Technavio also offers customization on reports based on specific client requirement.
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