Global Lawn and Garden Equipment Market

News: Global

2024-04-17

Global Lawn and Garden Equipment Market

GLOBAL REPORT
Michael Aistrup

The global lawn and Garden Equipment Market, which includes commercial and residential equipment, is projected by Power Systems Research to reach sales of $46.16 billion by 2030. This is a projected increase of $15.96 billion dollars from 2023 to 2030, an increase of 52.8%.

The global impact of COVID-19 is stating to wane and the market is returning to a normal growth rate. Individual homeowners are still interested in lawn and garden care, just not as much as during COVID-19. More people are returning to recreational activities.

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2023-11-16

Outboard Marine Engine Market Hits $5.5 Billion

GLOBAL REPORT

The global Outboard Marine Engine Market size is estimated at $5.54 billion in 2023, and is expected to reach $8.99 billion by 2035, growing at a CAGR of 4.1% during the forecast period, according to research by Power Systems Research.  

The COVID-19 outbreak significantly impacted the boat manufacturing industry and caused a decline in recreational activities worldwide, which hurt outboard motor sales. However, in 2021, the market regained momentum due to the easing of restrictions. The market is expected to register healthy growth in the coming years.

There are generally three types of boat drives including inboard, outboard, and sterndrive. One obvious distinction among them is their placement of motor in the boat.

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2023-10-23

Global Economy Seeing Modest Growth with Positive Outlook

GLOBAL REPORT
Jim Downey

SUMMARY. Many factors are pointing to modest growth in Q3 2023. This should lead to total production globally growing at +2.4% in 2023 vs 2022 (it was 2.6% in Q2 2023), and the outlook for the next few years remains positive with growth accelerating from 2025.  Apart from Russia and Ukraine, the main countries to show a decline are South Korea, Slovakia, Netherlands. However, the segment picture shows some differences.

Several drivers are influencing the global economic picture.

  • Fuel prices eased earlier this year, recently they have grown slightly and are no longer showing signs of easing. This remains a serious issue.
  • Supply chains remain constrained and show no signs of improving.
  • The war in Ukraine shows no sign of a speedy conclusion, despite recent successes by Ukraine.
  • Ukrainian exports of wheat, other grains and fertilizer have declined massively following Russia’s ending on the Grain Deal. Alternative routes (overland, and via the Danube) simply don’t have the necessary capacity.
  • Inflation is easing, but it continues to be a major concern for central banks as they consider raising their interest rates. This will pose a risk to economic growth in all regions. Inflation and price increases are putting OEMs in a difficult situation.
  • Risk of recession continues in the background for several countries, notably China, USA and Germany, and this could drag other countries into recession.
  • Covid is still lingering with global deaths now at over 6.9 million, and a new variant has the medical world concerned.
  • Latent demand for machinery keeps building, which is a positive sign.
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2023-09-15

Strong E-Bike Market Growth Seen

The pandemic bike boom boosted e-bike sales 145% from 2019 to 2020, more than double the rate of classic bikes, according to the market research firm NPD Group.

Research by Power Systems Research estimates the global e-bike market size at US$ 23.2B in 2022 and expects the market to reach US$ 78B by 2030, exhibiting a CAGR of 10.5%.

E-bikes are bicycles equipped with electrical motors for transforming electrical energy into mechanical energy to assist pedaling. They use rechargeable batteries that require minimum maintenance and provide power to the motor.

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Hydrogen Fuel Cell MH Commercial Vehicle Update

Chris Fisher
Chris Fisher

With regards to zero-emission medium and heavy vehicles, we have heard during the past few years that battery electric commercial trucks will ultimately replace the diesel-powered internal combustion engine for commercial trucks.  At some point in the future this might be true for short and regional haul freight carriers but what about the long-haul heavy truck segment? 

Currently, the lack of charging infrastructure, range anxiety and the extreme weights associated with the batteries will be a significant deterrent to mass adoption of long-haul battery electric trucks.  However, hydrogen fuel cell trucks for long-haul applications appear to be a viable option in this segment.  Even though fuel cell trucks currently have a greater range and lighter weight than battery electric trucks, they have the same problem as electric trucks due to a lack of a power infrastructure.

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2023-07-27

Q2 2023 Economic Update Is Mostly Positive

GLOBAL REPORT
Guy Youngs
Guy Youngs

SUMMARY. There are several factors that could contribute to modest growth in the second half of this year as we await final numbers for the quarter. This should lead to total production globally growing at +2.6% in 2023 (vs 2022). Given this 2023 growth, the outlook for the years into 2028 remains positive.

Apart from Russia and Ukraine, the main country to show a decline is South Korea, while Japan is barely positive. However, the segment picture shows some differences.

  • Fuel prices have eased recently, but they remain a serious concern.
  • Supply chains remain constrained.
  • The war in Ukraine shows no sign of a speedy conclusion, despite recent successes by Ukraine.
  • Ukrainian exports of wheat, other grains and fertilizer continue but are still low compared to pre-war levels.
  • Inflation continues to be a concern and central banks are raising their interest rates. This will pose a risk to economic growth in all regions. Inflation and price increases are putting OEMs in a tricky situation.
  • Risk of recession appears in several countries including the USA and Germany.
  • Covid is still lingering with global deaths now at over 6.9 million, but the death rate has slowed considerably.
  • Latent demand for machinery keeps bursting out into the open.
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