As providers of component solutions for this industry, we have a first-hand look at customers’ forecast, so we can see trends. The continued demand for lawn and garden equipment is evident—along with steady growth in the replacement parts segment as well.
In the next five years, the U.S. demand for this equipment is expected to rise an annual 4 percent, which could add up to $10.6 billion. After tracking a slight decline in demand from 2007 to 2012, we are encouraged to see these projected numbers.
As the economy and GDP accelerate, consumers will spend more money on upgrading older equipment. Increased recreational activities requires the upkeep of greens and fairways as well as parks and resorts, which means groundskeepers need state-of-the-art equipment to maintain these venues.
As the industry continues to evolve with more innovation in the equipment’s technology, we at Production Materials will be there to provide many of the components and the subsequent benefits for consumers and our customers.