People have started displaying a keen interest in redefining the appearance of their gardens and commercial and residential properties. This trend is expected to influence commercial turf equipment. Market players are emphasizing the adoption of energy-efficient products due to the increasing awareness of carbon emission in the atmosphere. Manufacturers are identifying different market opportunities, thereby setting up certain goals to achieve productivity and efficiency. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence.
According to Arizton, the commercial turf equipment market is expected to grow at a CAGR of over 5% during the period 2018–2024.
The following insights offer a brief idea as in why there has been a significant demand for commercial turf equipment in recent years.
Increasing Number of Golf Courses Worldwide: Golf is extremely popular sports in North America, Europe, and the APAC region. Over 35,000 golf courses were built in 209 countries in 2018 and the number is expected to expand rapidly in the near future. There is a need to maintain the appearance of golf courses, which is increasing the demand for equipment such as aerators, lawn mowers, turf sprayers, and dethatchers. Hence, the rise in the popularity of sports is propelling the demand for commercial turf equipment market.
Growing Landscaping Industry: Changing lifestyle preferences and increase in disposable incomes play a pivotal role in the gardening and landscaping services market. The process of gardening is expected to add an aesthetic value to the government, commercial, or residential properties. Key vendors have turned into full-time landscaping service providers, which offer services such as lawn aeration and tree and shrub care.
The growing GDP and increasing consumer interests for several landscaping services are expected consumers to spend on various recreational activities and landscaping services, thereby stimulating the demand for garden and turf equipment market.
Increasing Preference for Eco-friendly Equipment: The increasing awareness of global warming and fuel emissions is pushing vendors to develop eco-friendly turf care equipment that reduces environmental impacts and carbon emissions. Introducing sustainable features help turf surfaces offer heat relief, air particle removal, filtration, and adsorption.
Technological advancements have played a key role in popularizing the commercial turf and garden care equipment. Vendors have introduced driverless and autonomous fairway mowers. These mowers are 100% electric-powered, require low maintenance, and do not leak. The machines also offer 80% savings on the operational cost.
Development of Sustainable Cities: The increase in the number of sustainable cities and the growing awareness of the healthy environment, which has increased social benefits of eco-friendly spaces are influencing the commercial turf equipment market. Factors such as affordable and safe housing avenues for business opportunities, along with green spaces are likely to witness significant demand.
Government agencies across the globe are working in tandem with environment specialists and are developing environmental-friendly spaces as well as guarding the existing ones. Some of the implemented measures include:
- Use of sustainable urban transport systems
- Apt planning of land-usage and building codes to minimize the impact of natural calamities such as storms/floods
Prominent Vendors in Commercial Turf Equipment Market
- Deere & Company
- Honda Power Equipment
- Husqvarna Group
- MTD Products
- The Toro Company
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