Global Artificial Grass Turf Market 2019-2023 | Distribution Channel Expansion Strategy by Vendors to Boost Growth | Technavio
LONDON–(BUSINESS WIRE) – According to Technavio’s latest market research report, the global artificial turf market is expected to have a CAGR of close to 13% in the period 2019-2023. Request a free sample report
Several sports facilities, such as athletics tracks, golf courses, and stadiums for soccer and basketball, require water for the maintenance of the grounds and tracks. However, various government agencies limit landscaping services such as landscape irrigation due to the lack of water. In addition, global warming is responsible for nearly 20% of the global increase in water scarcity. These factors drive the demand for artificial turf. The increasing demand for artificial turf in landscape and sports applications will therefore promote the growth of the artificial turf market in the forecast period.
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According to Technavio, the strategy of expanding the sales channels by the providers will have a positive effect on the market and will contribute significantly to its growth in the forecast period. This research report also analyzes other key trends and market drivers that will influence market growth in 2019-2023 period.
Global artificial turf market: strategy to expand the sales channel by suppliers
Vendors in the global artificial turf market are pursuing various strategies, such as expanding sales channels in order to expand their customer base and increase sales. They also work with brick and mortar stores and e-commerce retailers. In 2017, Koninklijke Ten Cate acquired the Synthetic Grass Warehouse, a supplier of artificial turf for landscaping applications in the USA. Through this acquisition, the company will focus on the supply of artificial grass products for landscaping applications. With the increasing strategy of expanding sales channels, the artificial turf market is expected to have positive prospects in the forecast period.
“The increase in partnerships with sports clubs and stadiums as well as the availability of hybrid grass are other important factors that will drive market growth over the forecast period,” says a senior analyst at Technavio.
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Global Artificial Grass Market: Segmentation Analysis
This market research report segments the global Artificial Grass market by application (sports, recreation and landscaping), distribution channel (offline and online), and geographic regions (APAC, EMEA and America).
America led the market in 2018. During the forecast period, America is expected to maintain its dominance over the world market.
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Some of the key issues covered in the report are:
Market segmentation analysis
Market size and forecast
Five forces analysis
Major leading countries
Market positioning of providers
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