Dominican Republic: Lawn Mower Market 2024

Lawn Mower Market Size in the Dominican Republic

For the third year in a row, the Dominican lawn mower market recorded growth in sales value, which increased by 10% to $X in 2022. Overall, consumption continues to indicate a buoyant expansion. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in years to come.

Lawn Mower Exports

Exports from the Dominican Republic

Lawn mower exports from the Dominican Republic skyrocketed to X units in 2022, growing by 325% on the previous year's figure. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of 24,250%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, lawn mower exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 12,707% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X units) was the main destination for lawn mower exports from the Dominican Republic, accounting for a 51% share of total exports. Moreover, lawn mower exports to Ecuador exceeded the volume sent to the second major destination, Colombia (X units), twofold. The third position in this ranking was taken by Sri Lanka (X units), with a 21% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-1.9% per year) and Sri Lanka (+96.1% per year).

In value terms, Ecuador ($X), Sri Lanka ($X) and Colombia ($X) were the largest markets for lawn mower exported from the Dominican Republic worldwide, together accounting for 98% of total exports.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +634.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lawn mower export price amounted to $X per unit, growing by 23% against the previous year. In general, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 1,033% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to Haiti ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+274.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lawn Mower Imports

Imports into the Dominican Republic

In 2022, overseas purchases of mowers for lawns, parks, golf courses or sports grounds increased by 1.6% to X units, rising for the second year in a row after two years of decline. In general, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 34%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, lawn mower imports soared to $X in 2022. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 43% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X units) constituted the largest lawn mower supplier to the Dominican Republic, accounting for a 70% share of total imports. Moreover, lawn mower imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X units), eightfold. China (X units) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+11.7% per year) and China (+3.7% per year).

In value terms, China ($X), the United States ($X) and Mexico ($X) were the largest lawn mower suppliers to the Dominican Republic, with a combined 82% share of total imports. Japan, Brazil, Spain and Italy lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Italy, with a CAGR of +49.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average lawn mower import price amounted to $X per unit, surging by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2021 when the average import price increased by 30% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform