$9.2bn
$XXX.Xm
16,397
158
$XXX.Xm
Revenue for lawn and garden equipment manufacturers has been quite volatile during the current period. Since retailers, wholesalers and households are the industry's largest customers, manufacturers are exposed to trends in these sectors, including consumer spending and disposable income. COVID-19 caused the economy to ground to a halt, inhibiting demand for lawn and garden equipment from the industry's main customers. Consumer spending and per capita disposable income have expanded during the pandemic recovery, as multiple rounds of COVID-19 stimulus packages buoyed the US economy. Soaring consumer spending and per capita disposable income caused investment in lawn and garden equipment to soar, aiding revenue growth. The industry's performance has recently been hampered by high-interest rates, causing homebuying and residential construction to falter.
Industry revenue has declined at a CAGR of 0.3 % over the past five years, to reach an estimated $9.2bn in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
The Toro Company | 1,124.7 | 193.7 | 17.2 | |
Deere & Co | 1,108.6 | 194.4 | 17.5 | |
Honda Motor Co Ltd | 1,108.6 | 194.4 | 17.5 |
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Industry revenue is measured across several distinct product and services lines, including Nonriding equipment, Riding equipment and Parts and attachments. Nonriding equipment is the largest segment of the Lawn and Garden Equipment Manufacturing in the US.
High-interest rates have caused spending on nonriding equipment to fall
Lawn and garden equipment manufacturers make powered lawn and garden equipment, primarily for household and business maintenance of lawns and gardens. Equipment manufactured by this industry includes lawn tractors, riding and standing mowers, hedge trimmers, leaf blowers, wood chippers and other machinery for maintaining lawns and gardens.
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NAICS 33311 - Lawn and Garden Equipment Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Import penetration has grown during the current period, putting more pressure on domestic manufacturers. China dominates the import market, though its share has declined rece...
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Riding and nonriding equipment account for similar portions of revenue. Riding equipment is most commonly sold to commercial and industrial clients, while nonriding equipment...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Factors such as market size, cost of living, taxes, regulations and economic incentives are important in determining a region's attractiveness to manufacturers. Manufacturers...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition in the industry is modest since manufacturers sell very similar products. Internal competition is somewhat constrained by significant market share concentration.
Learn about the performance of the top companies in the industry.
Currency exchange rates have a substantial effect on major players. An increase in the value of the US dollar makes US-manufactured goods more expensive abroad.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The industry is subject to product safety regulations. These regulations require manufacturers to ensure their products are safe and meet various quality and performance stan...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Fluctuations in commodity prices can impact profit. Manufacturers often use hedging strategies to manage their risks and exposure to commodity price volatility.
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Lawn and Garden Equipment Manufacturing in the US industry in United States is $9.2bn in 2024.
There are 158 businesses in the Lawn and Garden Equipment Manufacturing in the US industry in United States, which has grown at a CAGR of 1.7 % between 2018 and 2023.
The market size of the Lawn and Garden Equipment Manufacturing in the US industry in United States has been declining at a CAGR of 0.3 % between 2018 and 2023.
Over the next five years, the Lawn and Garden Equipment Manufacturing in the US industry in United States is expected to decline.
The biggest companies operating in the Lawn and Garden Equipment Manufacturing market in United States are The Toro Company, Deere & Co and Honda Motor Co Ltd
Manufacturing string trimmers and Manufacturing lawnmowers are part of the Lawn and Garden Equipment Manufacturing in the US industry.
The company holding the most market share in United States is The Toro Company.
The level of competition is moderate and steady in the Lawn and Garden Equipment Manufacturing in the US industry in United States.