Steady Growth Forecast For Garden Tools Market

The garden and lawn tools market is estimated to grow at a compound annual growth rate (CAGR) of 3.41 per cent between 2022 and 2027, says a report from Technavio. The size of the market is forecast to increase by US$4,397.89 million during the forecast period. The market is fragmented and the degree of fragmentation will accelerate during the forecast period. The key factors holding back growth include the Russia-Ukraine war, global inflation, recovery from COVID-19, supply chain disruptions, global trade tensions, and risk of recession. Factors that benefit growth in the residential segment of the market include homeowners expanding their yard and lawn acreage.