As a Group, we are active in markets with solid long-term growth prospects, with a current market value of approximately SEK 280bn. In recent years, following the pandemic, global market sentiment has been negatively impacted by financial and geopolitical instability as well as weather effects. However, there are several global, long-term trends strengthening our business, including electrification, servitization and connectivity, and an increasing demand for autonomous, low-carbon and resource-smart solutions.
The forest and garden market, where the Husqvarna Forest & Garden and Gardena divisions operate, is valued at approximately SEK 235bn. Additionally, there is significant untapped potential in automating professional lawn mowing, transitioning it from a manual to an automated task. We estimate the value of this opportunity at SEK 100bn. In 2024, the forest and garden market value declined by some SEK 15bn, primarily due to challenging macroeconomic conditions. However, segments with high structural growth – such as robotic mowers, smart watering systems, and battery-powered products – grew, driven by the ongoing shift to autonomous and sustainable solutions. Overall demand in our markets is closely tied to economic growth, with key drivers being consumer purchasing power, confidence, and employment levels. Weather patterns also play a role, influencing the gardening season and thereby impacting demand both positively and negatively. For example, in 2024, Gardena’s watering segment was particularly affected by unfavorable weather conditions in Central Europe and North America. Europe and North America remain the largest markets, accounting for approximately 85 percent of the global market value. In other regions, gardening opportunities are more limited due to factors such as climate, high population density in cities, cultural gardening practices, and varying levels of purchasing power.
The market for the Husqvarna Construction Division
The Husqvarna Construction Division is a global leader in equipment and diamond tools for the light construction industry and the natural stone processing industry. The market is valued at approximately SEK 45bn. In 2024, weaker macroeconomic conditions led to a decline in market value, particularly in North America, however the market in Europe had a more stable development. Our products and solutions serve needs in both new and renovation projects, infrastructure developments, and certain commercial segments. Our business follows economic cycles and to an extent the overall construction industry performance. Key markets include Europe and North America, both wellestablished and highly developed. Demand is rising in emerging markets, presenting significant growth opportunities. In addition to equipment sales, aftermarket services and consumables represents a significant part of the business, with a higherthan-average growth.
Learn more about the markets we operate in here.