According to a new market research report published by Credence Research, “Lawn Mowers Market – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the lawn mowers market was valued at US$ 16.61 Bn in the year 2018 and expected to reach US$ 29.63 Bn by the year 2027, expanding at a CAGR of 6.7% during the forecast from 2019 to 2027.
“Increasing Spending on Home Improvement expected to spur the Lawn Mowers demand over the Forecast Period”
Rising trend of home remodeling and beautification has gained prominent pace over the recent past and is further expanding at a rapid pace. Prime factor attributed to this is tremendous growth in home expenditure in the developed as well as developing countries such as U.S., UK, Germany, China, Japan, India, and many others. Furthermore, prominent rise in landscaping services to improve the aesthetic value of the property has brought frenetic growth in the lawn mowers demand.
Moreover, stringent government regulations towards lawn maintenance have spur the demand for heavy-duty lawn mowers. For instance, OSHA rules, Affordable Care Act (ACA), and regulations for trees trimming have positively boosted the sales of lawn mowers. The regulations are strictly practiced in the developed regions such as the U.S., Europe, Japan, South Korea, and other south-east Asian countries.
The global lawn mowers market has turned to be highly competitive with the spur in product launches by the market players in the recent past. The players are significantly engaged in research & development of new and effective solutions to overcome the present market challenges. In addition, rising preference for renewable and sustainable energy sources have offered alluring opportunity for the players to develop a cost-effective environment-friendly solution.
• On June 5, 2019, The Husqvarna Group invested in a U.S.-based robotic lawn mower service provider company, Mowbot Inc. By using robotic mowers provided by Husqvarna Group, Mowbot Inc. provides environment-friendly and noise free solution for lawn care in residential and commercial sectors.
Key Market Movements:
• Globally, the lawn mowers market projected to witness a CAGR of 6.7% during the forecast period from 2019 to 2027
• The Walk-behind lawn mowers dominated the global lawn mowers market with approximately 40% of the total market revenue. Prime factor attributed to the prominent share is increasing application in residential sector.
• Robotic and autonomous lawn mowers projected to register the fastest growth over the forecast period owing to economic solution that overcome the drawbacks of electric lawn mowers. They are battery-powered mowers therefore eliminate the requirement of cord and thus offers wide mowing area.
• Electric is the largely preferred power source in the lawn mowers market attributed to rising environment concern along with high plant safety
• The Asia Pacific anticipated to be the fastest growing region due to increasing government support for home gardening and plantation. This will help the government to fight effectively with the increasing carbon and greenhouse gas emission.
List of Companies Covered:
• John Deere
• Kubota Tractor Corporation
• The Husqvarna Group
• The Toro Company
• Cub Cadet
• Troy-Bilt LLC
• MTD Products Inc.
• Swisher Inc.
• Ariens Company
• Dixie Chopper
• Briggs & Stratton Corporation
• Robert Bosch GmbH
• Mountfield a.s.
Browse the full report at https://www.credenceresearch.com/report/lawn-mowers-market
The Global Lawn Mowers Market is Segmented into:
|Segmentation||By Type Segment (2017–2027; US$ Bn)|
|By Power Source Segment (2017–2027; US$ Bn)|
|By Cutting System Segment (2017–2027; US$ Bn)|
|By Engine Power Segment (2017–2027; US$ Bn)|
|By End-users Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page