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Lawn Mower Market to Grow11-09-05 | News

Lawn Mower Market to Grow




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This John Deere hybrid greens mower is being marketed in Australia and New Zealand as well as other parts of the world.


World demand for power lawn and garden equipment is projected to rise 3.4 percent per year (including price increases) through 2009 to $18.8 billion.

The growing market is outlined in World Power Lawn & Garden Equipment, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.

Although developing nations are expected to register the fastest growth, North America, Western Europe and Australia will continue to be the dominant markets, with over 90 percent of demand in 2009. Consumers in these developed nations have high per capita income levels which allow for discretionary purchases such as power lawn and garden equipment. Aging populations and the spread of innovative new products such as cordless electric trimmers will create opportunities. Moreover, these areas are home to the vast majority of the world?EUR??,,????'???s golf courses, which are major consumers of power lawn and garden equipment.

The United States will continue to be the largest national market by far, comprising the majority of world demand. Consumer demand results from high standards of living and large yard sizes, as well as from cultural interest in gardening activities. Professional demand stems not only from the country?EUR??,,????'???s dominance in the number of golf courses, but also from its large professional landscaping industry. Canada is also a major market, reflecting the close economic and cultural similarities between the nations. Western Europe is also an important market for power lawn and garden equipment, and offers solid growth opportunities through 2009. Unlike many consumer industries, Asia represents only about five percent of world demand. Even the prosperous nation of Japan is a relatively small market. Most Japanese do not have gardens of sufficient size to justify the use of power equipment.

Lawnmowers will continue to be the largest product segment, benefiting from their wide use in both residential and commercial applications. Turf and grounds equipment is expected to post the best gains, because of continuing growth in the professional landscaping services industry and the rising number of golf courses worldwide. Other products, which include trimmers, edgers, snow throwers, parts and accessories, will benefit from rising standards of living in developing nations.

More information: www.freedoniagroup.com.

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