Aug 28, 2020
Gardening Equipment Market Trends
Some Recent Developments
· In January 2020, Lowe’s Companies announced that it will partner with Honda Power Equipment to sell the company’s line of outdoor power tools in its home improvement warehouse stores. Honda products are now available at Lowes.com and will be stocked in stores. They include walk-behind lawn mowers, generators, snow blowers, tillers, pumps and string trimmers for residential and commercial applications. This will provide the company with a larger reach in the region for generating demands and good revenue.
· In January 2020, Bloomington-based Toro is spending $167.5 million to broaden its portfolio of turf equipment and snow- and ice-management products by acquiring Venture Products Inc. This acquisition supports TORO’s growth strategy in the professional market with the addition of a strong brand and expanded product offering to customers in the turf, landscape, and snow and ice maintenance categories. It will provide a big help to the gardening enthusiast in the hilly, mountainous and snow-capped regions and will eventually help itself by generating good demands and growth in the market.
· In August 2019, Honda Power Equipment unveiled its all-new HRN Series of residential lawn mowers at the 35th anniversary celebration of the Honda Power Equipment Manufacturing, Inc. (HPE) facility in Swepsonville, North Carolina. The innovative new HRN lawn mower offers a powerful new Honda GCV170 engine and added features that that optimize grass cutting while streamlining operation and maintenance. The all-new Honda HRN Series of lawn mowers was designed from the ground up and tested at Honda Research and Development Americas, Inc. (HRA). It has replaced the earlier Honda HRR series to provide the best to its consumers; also it generated a good amount of demand before the pandemic times and will keep on generating good demands after the lockdown as well.
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Gardening Equipment Market Report
· In January 2019, iRobot announced awesome new terra robotic lawnmower called Terra. It’s rugged, fully autonomous, connected to internet — making full use of IoT and also wireless, using radio beacons to localize rather than relying on a buried edge wire to keep it from cutting other precious flowers. These capabilities make it certainly something sought by many people and helps boost the market demand in lawnmowers.
· In April 2020, Kubota Canada Ltd, announced the Grow Stronger initiative with its first partner, Topsy Farms and various partners to help support Canadians in these pandemic times. Kubota plans to continue supporting communities across Canada during the COVID-19 pandemic through a positive and educational social awareness campaign. Promoting the key benefits of victory gardening from a social distance and helping Canadians grow stronger. This will not only make the community self sufficient but also develop gardening skill in the community and will go a long way in stopping the spread of contagion.
· In May 2019, Kubota Tractor Corp. announced that Vicon hay tool equipment and pendulum spreaders will now be distributed and serviced by Kubota dealers in the United States. The rebrand of Vicon products to the Kubota brand is the latest development in the company’s growth strategy to deliver on its vision to offer full-service equipment to Kubota customers across product lines. This provides Kubota with range of products including the gardening ones to distribute in the States, which will lead to heavy demands and good revenue generation for the company in the region.
· In November 2019, RDO Equipment Co. announced a partnership with Ariens to sell its snow blowers and snow removal equipment at several stores across the RDO footprint. This collaboration will be a big win for the small family-owned company, as this will give a good opportunity to the company to learn, improve, generate renue and boost its reach in the region. The snowblower equipments are of good importance in gardening in snow-affected areas, leading to good growth in the market.
· In February 2019, the Toro Company announced that it entered into a definitive agreement to acquire privately-held The Charles Machine Works, the parent company of Ditch Witch and several other brands in the underground construction market, for $700 million in cash subject to certain adjustments set forth in the definitive agreement. As an organization, Charles Machine Works aligns well with and will contribute to Toro’s own strategic priorities of profitable growth, operational excellence and empowering people. The company expands their business in a meaningful way in an adjacent category they know well through their own specialty construction business and in a market that is attractive given the potential for growth in addressing both aging infrastructure that is currently in place and new infrastructure that will be needed to support next generation technologies like 5G.
