Assessment of COVID-19's Effect on Global Artificial Grass Turf Market 2020-2024 | Rising Demand for Artificial Grass in Landscape and Sports Applications to Boost the Market Growth | Technavio

The global artificial grass turf market is expected to grow by USD 1.49 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Technavio has announced its latest market research report titled Global Artificial Grass Turf Market 2020-2024 (Graphic: Business Wire)

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Several sports facilities such as athletics tracks, golf courses, and stadiums for soccer and basketball require water for the maintenance of grounds and tracks. However, various government bodies are imposing restrictions on landscaping services such as landscape irrigation owing to the shortage of water. Global warming is responsible for nearly 20% of the global increase in water scarcity. These factors are propelling the demand for artificial grass. Thus, the increase in demand for artificial grass in landscape and sports applications will boost the growth of the artificial grass turf market during the forecast period.

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As per Technavio, the advances in technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Artificial Grass Turf Market: Advances in Technology

Advances in technology for developing artificial grass turf products are driving the global market. Intense competition and high demand for good-quality playing surfaces have resulted in the creation of third-generation artificial grass turf that resembles natural grass. This type of artificial grass turf has advantages such as safety, durability, and high resistance to wear and tear. Several vendors are offering advanced artificial grass turf; for instance, Synlawn Artificial Grass, a subsidiary of Sport Group Holdings, offers artificial grass turf products that are developed with HeatBlock technology. The technology lowers the rising temperatures by reflecting sunlight, thus reducing heat build-up and thermal emissivity. Similarly, FieldTurf, a subsidiary of Tarkett, has introduced CoolPlay infill system, which reduces surface temperature by at least 30% when compared with turfs that use sand and rubber infills. All these factors are driving the demand for artificial grass turfs.

“Factors such as the increase in partnerships with sport clubs and stadiums and availability of hybrid grass will have a significant impact on the growth of the artificial grass turf market value during the forecast period,” says a senior analyst at Technavio.

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Artificial Grass Turf Market: Segmentation Analysis

This market research report segments the artificial grass turf market by application (sports and leisure and landscaping) and geography (Europe, North America, APAC, South America, and MEA).

The European region led the artificial grass turf market in 2019, followed by North America, APAC, South America, and MEA respectively. However, during the forecast period, the North American region is expected to register the highest incremental growth due to factors such as an increase in the use of artificial grass turf for landscaping of residential and commercial properties, unfavorable climate conditions for natural grass, the need for water conservation, and the rise in the number of sports events.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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