Global Lawn Mowers Market Size, Share, Forecast Report, 2020-2027
The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Lawn Mowers Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Lawn Mowers market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.
The global lawn mowers market size was valued at USD 28.5 billion in 2019 and is expected to register a CAGR of 5.6% from 2020 to 2027. The market for lawn mowers has witnessed several developments in terms of technology and product over the past few years. The emergence of remote-controlled and GPS-equipped products has made gardening easier by making the equipment easy to track, monitor, and operate. Additionally, there has been a notable rise in consumer interest in gardening activities, such as landscaping, backyard beautification, and backyard cookouts. These factors are majorly contributing to market growth and are further anticipated to drive the market for lawn mowers over the coming years.
The market has witnessed improvement in the social lifestyle, increasing base of the affluent middle-class population, and adoption of gardening as a hobby. This trend is expected to impel the product demand, thereby augmenting market growth. Further, rapidly expanding commercial and residential construction sectors, especially in developing countries, owing to rising population is also likely to boost the product demand. Moreover, rise in disposable incomes and changing lifestyles in developing countries, such as India and China, are also anticipated to drive the market for lawn mowers over the forecast period.
Widespread usage of these equipment to maintain public facilities, such as parks, schools, and sports fields, is also likely to drive the market. Escalating demand for landscaping services in developed countries, such as U.S., to add an aesthetic value to a property will also help fuel market development. Furthermore, gradual shift from traditional manual tools to technically-advanced, automated equipment is likely to help create growth opportunities for manufacturers in the market for lawn mowers. In addition, growing adoption of green roofs is estimated to boost the product demand further.
Rising awareness about the benefits of green roofs, such as better storm water management by reducing runoff, energy conservation, and carbon sequestration, has encouraged their adoption since the past few years. Moreover, green roofs provide space for urban agriculture and offer healthy and aesthetically pleasing environment. These factors are also likely to propel their usage, thereby supporting market development. An emerging trend of covering roofs with small and medium-sized plants and vegetation is further expected to spur the demand for electric lawn mowers, thereby driving the overall market.
In the gardening equipment industry, the market for lawn mowers is anticipated to witness significant growth over the forecast period. This is accredited to varied uses of these equipment across several applications. The smallest types of tools, such as unpowered push mowers, are widely applicable for small residential gardens. Electrical or piston engine-powered mowers are utilized for grass cutting in larger residential lawns. Furthermore, technically-advanced lawn mowers, such as robotic lawn mowers, are significantly transforming the gardening equipment industry
The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Lawn Mowers market are included as given below:
The market is highly consolidated and is characterized by a high level of competition. Some of the leading companies in the market for lawn mowers are Deere and Company; MTD products; American Honda Motor Co., Inc.; Robert Bosch GmbH; STIGA S.p.A.; Robomow Friendly House; Husqvarna Group; and AriensCo. The industry competition is anticipated to intensify further as a number of companies are focusing on the development of advanced cost-effective products and technologies. For instance, in March 2018, the Husqvarna Group announced the introduction of a cloud-based voice service, Alexa, in their lawn mower brand Automower Connect. Users can use voice commands to start, stop, park, and get updates about work progress or the whereabouts of their mowers.
In order to sustain competition, key market players are also focusing on adopting inorganic strategies such as acquisitions, mergers, partnerships, and joint ventures. The implementation of these strategies helps companies in geographical expansion, increasing sales in a particular region, or to enhance their offerings in certain geographies. For instance, in May 2017, MTD Products announced merger with F. Robotics Acquisitions Ltd, makers of Robomow. The merger was aimed at satisfying the growing demand for robotic technology in residential lawns across North America
The global Lawn Mowers market has been segmented as below:
- Global Lawn Mowers Market by Region
- North America
- Asia Pacific
- Rest of the World
Reasons to Purchase this Report:
Estimates Lawn Mowers development trends with SWOT analysis
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
- Market dynamics scenario, along with growth opportunities for players in the years to come
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects