2023 GREEN INDUSTRY OUTLOOK sponsored by


PGR and barriers Overcoming obstacles C


oming to the end of the season, respondents are slightly less ex- cited as they were at the begin-


ning of the year. With the warm summer months behind them, 27% expected flat returns or a decrease overall compared to 23% last year. Roughly the same amount expected moderate growth this year (51%) compared to last year (52%), so that elas- ticity may have pulled a little bit away from those looking for exceptional growth. But they’re definitely just as optimistic


as the previous year, as none of the results for that question have shifted by more than a point or two between surveys. Re- spondents appear to think that there’s still more to get out of the market if they can get the right tools. For another year running, a struggle to find the right labor is the top barrier to getting a larger slice of that market (69%). More respondents reported that economic conditions are pushing back on them as well at 45% compared to last year’s 39%. Benefits and employee compensation extended its lead as one of the top expens- es for respondents from 55% to 62%. Sup- plies remained about the same at 44%, but fuel and energy jumped from 29% to 38%. Respondents say they struggle most


with regulation surrounding labor (32%), fuel (25%) and water (24%). About a quar- ter of all respondents (24%) have contact- ed their local or state representatives about industry issues in the past three years.


Decrease Flat 1%-5%


6%-10% 11%-15% 16% or more


What barriers most impact your business growth? Labor shortage


Economic conditions


Insurance/employee compensation Supply chain issues Equipment costs Low profit margins


Too much competition


Drought/water shortage Regulations


Negative industry perceptions 34% 31% 21% 18%


14% 14%


10% 9%


45%


Less than $100,000 $100,001-$500,000 $500,001-$1 million


$1,000,001-$5 million $5,000,001-$10 million More than $10 million


Compared to 2021, how much do you expect your business has grown in 2022?


What is your business’s projected gross revenue for 2023?


69%


What are your business’s two largest expenses?


Benefits and compensation


62% irrigationandlighting.org


44% Supplies


38% Fuel and


energy


Equipment acquisition


19%


17% Business


insurance


Equipment maintenance


14% Late Fall 2022 Irrigation & Lighting 15


7% 20% 28% 23%


11% 11%


16% 21% 15% 26% 9% 13%


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