According to a new market research report published by Credence Research “Robotic Lawn Mowers Market (Range – Low-Range Robotic Lawn Mower, Medium-Range Robotic Lawn Mower and High-Range Robotic Lawn Mower; End User – Residential and Commercial; Sales Channel – Direct Retail and Online Retail) Market – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global robotic lawn mowers market expected to reach US$ 3.76 Bn in 2026 and will be growing at a CAGR of 17.5% during the forecast period from 2018 to 2026.
The robotic lawn mowers market expected to reach US$ 3.76 Bn in 2026 growing at a compounded annual growth rate (CAGR) of 17.5% during the forecast period from 2018 to 2026. Growing urbanization has led to a surge in landscaping and ground maintenance services. As a result of an increasing number of population shifting to urban cities, developing regions such as Asia Pacific, Middle East & Africa and Latin America has witnessed a boost in lawn maintenance services. This factor has been positively influencing the demand for robotic lawn mowers. Moreover, the commercial sector, in recent years, has witnessed rising dependency on automation in order to reduce the operation cost in the long run. The residential sector has been no exception either, and has witnessed a high adoption of domestic robots for carrying out various household activities such as lawn mowing and cleaning. Moreover, a growing aging population is another important factor complimenting the robotic lawn mowers market growth. In order to address the market competition and create growth opportunities for themselves, robotic lawn mower manufacturers are focusing on introducing new products with enhanced functionalities. Technological advancements have enabled manufacturers to add new functionalities to robotic lawn mowers.
However, increased adoption of artificial grass is one of the most important factor restraining the growth of robotic lawn mowers. In addition, high cost of robotic lawn mowers might offset its demand during the forecast period.
In terms of geography, Europe represented the largest market for robotic lawn mowers in 2017. The region has witnessed a rise in the popularity of robotic lawn mowers in recent years. Declining per unit price of mowers is another prominent factor arising market growth in the region. Asia Pacific expected to emerge as the most lucrative market for robotic lawn mowers in coming years. As a result of improving quality of life, countries in the region such as Thailand, India, Indonesia and Vietnam among others are expected to witness increased adoption of robotic lawn mowers. Some of the important markets for robotic lawn mowers in Asia Pacific region includes South Korea, China, Australia, New Zealand and Japan among others.
Browse the full report at https://www.credenceresearch.com/report/robotic-lawn-mowers-market
Some of the major players operating in the robotic lawn mowers market include Robert Bosch GmbH, DEERE & COMPANY, Honda Motor Company, Ltd., Hitachi, Ltd., Zucchetti Centro Sistemi S.p.a., Husqvarna Group, LG Electronics, Inc., Stiga S.p.A., MTD Products, The Kobi Company, E. ZICOM, Milagrow HumanTech, Linea Tielle and Global Garden Products among others.