CLEVELAND, April 30, 2018 /PRNewswire/ -- Demand for gardening hand tools totaled $654 million in 2017, increasing only 0.6% annually between 2012 and 2017. Long-handled tools alone accounted for nearly half of total sales in 2017; combined with cutting tools the two segments represented three-quarters of the total. Handheld tools generated the lowest level of sales despite being necessities for people with lawns and gardens. While extremely popular, they are low priced and do not generate high value sales. These and other trends are presented in Lawn & Garden Hand Tools & Wheeled Implements in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Demand for hand tools is expected to increase 2.4% per year to $738 million in 2022. Growth rates are relatively the same for all products, as hand tool sales tend to occur in lockstep. Consumers tend to purchase these products when needed – e.g., after moving into a new residence, when starting a new project, or when an item breaks or is lost. Growth going forward will be reliant on an improving economy and weather across the US.
Demand for long-handled tools is forecast to increase 2.3% per year to $349 million in 2022. Shovels and rakes generate the majority of category sales. Among other products, hoes account for a large portion of demand. Growth rates will be similar for all long-handled products, as shovels and rakes in particular are necessities for people with lawns and gardens. There is relatively little innovation in the segment, with most products seen as commodities by consumers.
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Consumer Goods studies can be purchased at https://www.freedoniagroup.com/, www.marketresearch.com and www.profound.com.