Lawn and Garden Equipment Manufacturing in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: December 2023
NAICS OD6151Revenue
$9.2bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
16,397
Businesses
158
Wages
$XXX.Xm
Lawn and Garden Equipment Manufacturing in the US industry analysis
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.
Trends and Insights
- Import penetration has grown during the current period, putting more pressure on domestic manufacturers. China dominates the import market, though its share has declined recently.
- Riding and nonriding equipment account for similar portions of revenue. Riding equipment is most commonly sold to commercial and industrial clients, while nonriding equipment is mostly sold to households.
- Factors such as market size, cost of living, taxes, regulations and economic incentives are important in determining a region's attractiveness to manufacturers. Manufacturers aim to reduce production costs while also having access to their core markets.
- Competition in the industry is modest since manufacturers sell very similar products. Internal competition is somewhat constrained by significant market share concentration.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 0.3 % over the past five years, to reach an estimated $9.2bn in 2023.
Trends and Insights
Macroeconomic factors impact consumer behavior
- Demand for lawn and garden equipment is directly impacted by demand for new equipment from households, mainly because homeowners often purchase these products for the upkeep of their homes.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Economic trends will influence demand for lawn and garden equipment
- Despite challenges related to high inflation, rising interest rates and recessionary fears, the US economy is expected to perform well during the outlook period.
Biggest companies in the Lawn and Garden Equipment Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($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 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
High-interest rates have caused spending on nonriding equipment to fall
- Nonriding lawn and garden equipment include lawnmowers, string trimmers, leaf blowers, hedge trimmers and chainsaws. Nonriding equipment is typically smaller than riding equipment and may be powered by electricity, gasoline or battery.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Hand Tool & Cutlery Manufacturing in the US
Complementors
- Tractors & Agricultural Machinery Manufacturing in the US
- Construction Machinery Manufacturing in the US
- Farm, Lawn & Garden Equipment Wholesaling in the US
International industries
- Tractors & Agricultural Machinery Manufacturing in Canada
- Agricultural Machinery Manufacturing in Australia
- Lawn & Garden Equipment Manufacturing in the UK
- Farming Machinery Manufacturing in China
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Manufacturing string trimmersManufacturing lawnmowersManufacturing leaf blowersManufacturing garden tractorsManufacturing commercial mowersManufacturing other lawn and garden equipmentCompanies
The Toro CompanyDeere & CoHonda Motor Co LtdPurchase this report to view all 5 major companies in this industry.
Related Terms
LAWN MOWERHEDGE TRIMMERLEAF BLOWERIndustry Code
NAICS 33311 - Lawn and Garden Equipment Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
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...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Riding and nonriding equipment account for similar portions of revenue. Riding equipment is most commonly sold to commercial and industrial clients, while nonriding equipment...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Factors such as market size, cost of living, taxes, regulations and economic incentives are important in determining a region's attractiveness to manufacturers. Manufacturers...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Competition in the industry is modest since manufacturers sell very similar products. Internal competition is somewhat constrained by significant market share concentration.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
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.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of The Toro Company's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Deere & Co's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Honda Motor Co Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for The Toro Company, and factors influencing its performance in the industry
- Description and key data for Deere & Co, and factors influencing its performance in the industry
- Description and key data for Honda Motor Co Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
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...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Fluctuations in commodity prices can impact profit. Manufacturers often use hedging strategies to manage their risks and exposure to commodity price volatility.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Lawn and Garden Equipment Manufacturing in the US industry in United States in 2024?
The market size of the Lawn and Garden Equipment Manufacturing in the US industry in United States is $9.2bn in 2024.
How many businesses are there in the Lawn and Garden Equipment Manufacturing in the US industry in 2023?
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.
Has the Lawn and Garden Equipment Manufacturing in the US industry in United States grown or declined over the past 5 years?
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.
What is the forecast growth of the Lawn and Garden Equipment Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Lawn and Garden Equipment Manufacturing in the US industry in United States is expected to decline.
What are the biggest companies in the Lawn and Garden Equipment Manufacturing in the US market in United States?
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
What does the Lawn and Garden Equipment Manufacturing in the US in United States include?
Manufacturing string trimmers and Manufacturing lawnmowers are part of the Lawn and Garden Equipment Manufacturing in the US industry.
Which companies have the highest market share in the Lawn and Garden Equipment Manufacturing in the US in United States?
The company holding the most market share in United States is The Toro Company.
How competitive is the Lawn and Garden Equipment Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Lawn and Garden Equipment Manufacturing in the US industry in United States.
