Turf Care Equipment Market Set to Exceed US$ 22 Billion by 2034 with a 4.4% CAGR

Development of products with novel technologies is speeding up the demand in the turf care equipment market, says Fact.MR in its new market research report.

ROCKVILLE, MD, UNITED STATES, May 9, 2024 /EINPresswire.com/ -- The global turf care equipment market is estimated to be US$ 14,325.5 million in 2024. The market is projected to grow at a sturdy clip through 2034, with a CAGR of 4.4%. The industry is forecasted to surpass US$ 22,035.1 million by 2034.

The proliferation of sports facilities lays the ground for the rise of the turf care equipment market. People are becoming increasingly fitness-conscious and are adopting sports activities in droves.

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Children make up a considerable portion of the consumers of turfs. With limitations over playing spaces and the desire to teach sports culture, parents are increasingly taking their children to turfs. To ensure that children do not hurt themselves, turfs are being maintained with greater precision, necessitating the use of turf care equipment.

There are, however, obstacles that slow down the growth of the market. The pricey nature of turf care equipment, augmented by the considerable repair costs, turns turf owners off some advanced products. The volatility of fuel prices and the contentious issue of land taken up by sports facilities are other obstacles in the path of the market.

Key Takeaways from the Market Study

The global turf care equipment market is projected to expand at a CAGR of 4.4% through 2034.

The East Asia turf care equipment market is expected to grow at a CAGR of 4.5% from 2024 to 2034.

The turf care equipment industry is expected to register a CAGR of 4.8% in China over the forecast period.

Canada's turf care equipment industry is expected to rise at a CAGR of 5.1% through 2034.

Based on fuel, diesel leads the market, with an expected share of 43.2% in 2024.

“Turf care equipment is advancing with the advent of new technology. Technologies like drones and lawnmowers that have the ability to communicate with each other are making the business of taking care of turf more efficient and effective. Thus, investment in technology and the introduction of new innovative products seems to be the way to go for market players.” says a Fact.MR analyst.

Players in the Turf Care Equipment Market Looking to Streamline the Value Chain

The industry is highly competitive, with smaller players jostling with giants for market dominance. To ease the value chain process, players are implementing integration strategies. Some prominent companies in the market are Husqvarna AB, Honda Motor Co., Deere & Company, and The Toro Company.

Some of the recent developments in the market are:

In October 2023, Bluebird Turf Products was acquired by Metalcraft of Mayville.

In September 2023, Excel Industries was acquired by Stanley Black & Decker.

Country-wise Insights

North America and East Asia are poised for robust growth in the turf care equipment market. In North America, the market is estimated to be worth US$4,168.7 million in 2024, capturing a 29.1% market share. The region is expected to grow steadily at a CAGR of 4.5% from 2024 to 2034, reaching a market value of over US$6,500.4 million and a market share of 29.5% by 2034.

Similarly, East Asia is projected to experience significant growth, with a market share of 35.9% and a value of US$5,142.9 million in 2024. The region is expected to maintain a solid CAGR of 4.5% throughout the forecast period, reaching a market value of US$7,976.7 million and a market share of 36.2% by 2034.

Competitive Landscape

The turf care equipment industry is characterized by a fragmented landscape, with several established players and numerous smaller companies. Leading companies are focusing on integrating the value chain for improved efficiency.

Partnerships between sports equipment industries and turf equipment manufacturers are becoming more common. However, new entrants face challenges in differentiating themselves from established competitors. Key players in the turf care equipment market include Husqvarna AB, Honda Motor Co., Deere & Company, The Toro Company, MTD Products, Inc., Intimidator Group, Kubota Corporation, Briggs & Stratton Corporation, BLACK+DECKER Inc., and Textron Inc.

Recent developments in the market include Metalcraft of Mayville's acquisition of Bluebird Turf Products in October 2023 and Stanley Black & Decker's entry into the turf care equipment market through its acquisition of Excel Industries in September 2023.

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Explore More Studies Published by Fact.MR Research:

Turf Sprayers Market: By 2023, the global turf sprayers market hit a notable $912.3 million, projected to soar to $1.29 billion by 2033, with a steady growth rate of 3.6% annually.

Lawn Edger Market: The lawn edger market is projected to hit US$11.55 billion by 2023, with a forecasted CAGR of 5.5% from 2023 to 2032, reaching a total market value of US$19.73 billion.

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