The 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 essential utility products used for carrying plants, soils, fertilizers, tools and other gardening equipment and materials over short to medium distances within residential, commercial and industrial gardens, farms and landscaping projects. Wheelbarrows are considered ideal for heavy loads and on rough terrains, while garden carts provide better stability and comfort for carrying loads over paved driveways and walkways.
Market Dynamics:
The market is expected to be driven by the increased participation of consumers in do-it-yourself home improvement activities. With more people spending time at home during the COVID-19 pandemic, home gardening and landscaping projects have gained increased popularity among homeowners as stress-relieving leisure activities. Furthermore, rising environmental awareness has driven the adoption of organic urban farming practices using hydroponics and container gardening, thereby fueling demand for garden carts and wheelbarrows to transport soil and equipment. The market growth is also supported by the increased commercial construction of parks, golf courses and other recreational green spaces that require landscaping services and regular maintenance activities deploying wheelbarrows and carts.
SWOT Analysis
Strength: The Garden Carts and Wheelbarrows Market has several strengths. The products are extremely durable and can last for several years with proper maintenance. They are affordable and provide an easy means of transporting soils, plants, and other gardening materials. Manufacturers offer various styles, sizes, and load capacities to suit different gardening needs.
Weakness: However, the market also faces some weaknesses. Heavyweight wheelbarrows and carts can be difficult to maneuver for some users. Low-cost products may not have the best quality and can break down easily with heavy-duty use.
Opportunity: The market sees considerable opportunities for growth. Increasing interest in organic farming and home gardening is driving demand. Many users prefer eco-friendly products made from recycled materials. Additionally, the rising home improvement and renovation industry provides an avenue for expanded sales.
Threats: On the other hand, pricing pressures from private label brands pose a major threat. Unfavorable weather patterns affecting agriculture could negatively impact demand.
Key Takeaways
The global Garden Carts and Wheelbarrows market is expected to witness high growth, exhibiting a CAGR of 7.0% over the forecast period, due to increasing interest in outdoor activities like gardening and farming. The growing eco-conscious consumer base is further driving the demand for garden equipment manufactured using sustainable materials.
Regional analysis: North America currently dominates the garden carts and wheelbarrows market, holding the largest market share. This can be attributed to rising homeownership and increased spending on landscaping in the region. However, Asia Pacific is expected to showcase the fastest growth over the coming years owing to a rising middle class, increasing agriculture production, and expansion of commercial gardening centers across China and India.
Key players operating in the Garden Carts and Wheelbarrows market include 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, Amazon. Key players are focusing on new product launches catering to evolving consumer needs for durable, eco-friendly garden tools.