The global lawn mowers market size is expected to reach USD 43.7 billion by 2027, growing at a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Rapidly expanding residential construction sector across the globe is spurring the demand for landscaping services, which, in turn, is expected to propel the demand for lawnmowers over the forecast period. In addition, the rising popularity of well-kept yards and backyard beautification activities across the globe, predominantly in developed economies, is likely to contribute to market expansion.
Lawn
mowers are indispensable machines as they offer great aid and convenience in
undertaking a number of gardening activities, thus ensuring superior lawn
quality. These factors are likely to drive their demand over the next few years.
Furthermore, the rising adoption of green roofs, primarily in developed
countries, is also one of the key factors propelling the market growth.
Increasing environmental concerns pertaining to global warming, fuel emissions,
and Greenhouse Gases (GHG) have encouraged the usage of green roofs in
residential as well as commercial buildings, as these structures absorb UV rays
and reduce GHG emissions. Moreover, green roofs impart enhanced shading and
cooling effect, thereby reducing the costs associated with indoor cooling.
In
addition, factors like strong GDP growth along with a notable rise in
disposable income levels across developing economies has enabled increased
investments in farmhouses and bungalows with sizeable gardening areas. This has
triggered the demand for gardening tools, such as weeders and mowers, thereby
fueling the market growth. However, the growing popularity of artificial turf
or grass may pose a major threat to the product. Artificial grass does not
require mowing, watering, or fertilizing like natural grass. The convenience
and low cost associated with artificial grass are further compelling its
increased adoption across residential and commercial spaces. This is expected
to hinder the growth of the market.
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Further key
findings from the report suggest:
- The electric
lawn mower product segment held the largest market share in 2019; however,
robotic lawn mower is projected to exhibit the fastest CAGR over the
forecast period owing to its benefits over other products
- The
residential sector is expected to emerge as the largest segment in the
coming years. The rapidly expanding residential construction sector,
especially in developing regions, is the key driving factor for the
segment
- Europe
accounted for a significant share of the global market in 2019 and is
anticipated to register a CAGR of 5.4% over the forecast period
- Technological
advancements and rapid adoption of robotic lawnmowers in various
countries, such as Germany, France, and Switzerland, are opening up new
growth opportunities for companies offering advanced product variants
- The vendor landscape
of the lawn mowers market is highly consolidated and characterized by a
high level of competition
- Some of the
leading companies in the market are Deere and Company; MTD Products;
American Honda Motor Co., Inc.; and Robert Bosch GmbH. These companies are
focusing on product development to strengthen their foothold in the global
market.
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Grand View Research has
segmented the global lawn mowers market based on the product, end-use, and
region:
Lawn Mowers
Product Outlook (Revenue, USD Billion, 2016 - 2027)
- Manual
- Electric
- Petrol
- Robotic
- Others
Lawn Mowers
End-use Outlook (Revenue, USD Billion, 2016 - 2027)
- Residential
- Commercial/Government
Lawn Mowers
Regional Outlook (Revenue, USD Billion, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Netherlands
- Denmark
- Finland
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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