SOURCE: The Freedonia Group, Inc.

January 30, 2008 16:31 ET

Global Demand for Power Lawn & Garden Equipment to Reach $18.7 Billion in 2011

CLEVELAND, OH--(Marketwire - January 30, 2008) - Global demand for power lawn and garden equipment is projected to expand 3.2 percent annually through 2011 to $18.7 billion. The majority of growth will occur in the dominant markets of North America and Western Europe. The pace of growth will be most rapid in the developing countries of Asia, where rising incomes and advances in residential and nonresidential building construction activity will bolster demand. Growth will also result from product innovations and upgrades. These and other trends, including company profiles and market share, are presented in "World Power Lawn & Garden Equipment," a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

The US accounted for the majority of demand in 2006, with 56 percent of the total. On a regional basis, North America and Western Europe will continue to be the dominant markets, with nearly 90 percent of demand in 2011. Consumers in these developed nations have high per-capita income levels. These areas are also home to the vast majority of the world's golf courses, which are major consumers of power lawn and garden equipment.

Unlike in many consumer durables industries, Asia represents only about five percent of world demand. Even the prosperous nation of Japan is a relatively small market. In most other Asian nations, demand is limited by low income levels, with most consumers unable to afford power lawn and garden 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, due to 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.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product and market forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles. More than 90% of the industrial companies in the Fortune 500 use Freedonia research to help with their strategic planning.

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