Outdoor Power Equipment

March 2018

Proudly serving the industry for which it was named for more than 50 years, Outdoor Power Equipment provides dealers who sell and service outdoor power equipment with valuable information to succeed in a competitive market.

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Page 17 of 51

G lobal demand for power lawn and garden equipment is forecast to grow 2.5 percent per year to $24.2 billion in 2021. Demand for power lawn and garden equipment will remain heavily concentrated in the United States, Canada and Western Europe, which will together account for 75 percent of the total global increase in sales between 2016 and 2021. These and other trends are presented in "Global Power Lawn & Garden Equipment, 6th Edition," a new study from The Freedonia Group, a Cleveland-based industry research fi rm. According to The Freedonia Group, demand for power lawn and garden equipment in the United States is forecast to rise 2.7 percent per year, in line with global average growth. Continued recovery in the construction sector will contribute to increased sales. However, an expected decline in the number of golf courses in the country will have an adverse impact on demand. Demand for power lawn and garden equipment in Canada totaled U.S. $1.1 billion in 2016, making Canada the world's fourth largest national market for these products behind the U.S., France and Germany. Similar to the U.S., Canada is an intensive user of power lawn and garden equipment (on a per household basis), refl ecting large yard sizes and high levels of disposable income. Western Europe accounts for a large share of the global power lawn and garden equipment market relative to its population size, refl ecting the importance of cultural preferences for lawn maintenance in supporting demand. Most countries in Western Europe have mature power lawn and garden equipment markets, and growth will be sluggish by global standards through 2021. A regionwide emphasis on environmental friendliness will contribute to rapid growth in demand for battery-powered products, which already have high rates of penetration by global standards. For additional insight into "Global Power Lawn & Garden Equipment, 6th Edition," Outdoor Power Equipment (OPE) magazine recently asked Jennifer Christ — manager of consumer and commercial products at The Freedonia Group — about the report. OPE: Can you tell us a little bit about your methodology for the analysis, and how you arrive at the growth being forecast? Christ: We examine reported government sources for production and trade, where available, as well as trends from sources such as key manufacturers, industry associations, trade news, and primary research contacts. We examine the industry forward and backward, considering technology innovations and regulatory developments, as well as demographic changes and end-user needs and preferences. 18 MARCH 2018 OUTDOOR POWER EQUIPMENT www.outdoorpowerequipment.com INDUSTRY RESEARCH Global Demand for Power Lawn and Garden Equipment Forecast to Grow to 2.5 Percent Per Year Sales to remain concentrated in the U.S., Canada and Western Europe IMAGE @ISTOCKPHOTO.COM/JFSPIC

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