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The global Garden Carts and Wheelbarrows Market is estimated to be valued at US$ 2.78 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Garden carts and wheelbarrows are versatile tools that enable easy transportation of gardening materials such as soil, mulch, plants, flowers, fruits and vegetables. Garden carts provide a large flat surface to move multiple items, while wheelbarrows have a dump feature to unload contents easily. These tools aid in various gardening and landscaping activities related to planting, weeding, harvesting and more. Rapid urbanization and increasing focus on home improvement projects have boosted the demand for affordable gardening solutions, driving the sales of garden carts and wheelbarrows.
Market key trends:
Growing participation in leisure activities such as backyard gardening and landscaping among homeowners as well as rise of community gardening are major trends fueling the sales of garden utility tools. Advanced features such as canopy covers, swiveling casters and larger capacity sizes in garden carts and wheelbarrows cater well to commercial landscaping needs. Manufacturers are launching ergonomically designed models equipped with durable construction materials to increase product lifespan. In addition, innovations like battery-powered and lightweight garden aids expand the addressable market. Rise of e-commerce retail platforms further aids easy accessibility of these products.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the garden carts and wheelbarrows market is low due to the presence of well-established players and high initial investment required for manufacturing carts and wheelbarrows.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of numerous product offerings from various manufacturers at competitive prices in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers and brand loyalty is low.
Threat of new substitutes: The threat of substitutes is moderate as plastic or steel buckets can be used as an alternative for smaller garden tasks.
Competitive rivalry: High due to presence of numerous domestic and international established brands.
Key Takeaways
The global garden carts and wheelbarrows market is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing adoption of gardening as a hobby and trend of backyard gardening.
The North America garden carts and wheelbarrows market holds the largest market share globally and is expected to continue dominating the market during the forecast period. In the US and Canada, gardening is a popular outdoor activity and there is a rise in backyard and community gardening which is fueling the demand for garden carts and wheelbarrows in the region.
The Asia Pacific region is anticipated to be the fastest-growing market for garden carts and wheelbarrows due to rising middle-class population and their increased interest towards gardening and landscaping activities in major economies like China and India.
Key players operating in the garden carts and wheelbarrows market are The Gorilla Carts, Mac Sports, Polar Trailer, Radio Flyer, Rubbermaid Commercial Products, Suncast Corporation, WORX, Ace Hardware, Costco, Home Depot, Lowes, Menards, Northern Tool + Equipment, QVC, Sam’s Club, Target, Tractor Supply Co., Walmart, Wayfair, and Amazon.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
