“Grand View Research, Inc. – Market Research And Consulting.”
According to report published by Grand View Research, 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 lawn mowers over the forecast period. In addition, rising popularity of well-kept yards and backyard beautification activities across the globe, predominantly in developed economies, is likely to contribute to the market expansion.
According to a report,“Lawn Mowers Market Size, Share & Trends Analysis Report By Product (Petrol, Electric, Manual, Robotic), By End Use (Residential, Commercial & Govt.), By Region (MEA, Asia Pacific, North America), And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The globallawn mowers marketsize is expected to reach USD 38.78 billion by 2025 exhibiting a CAGR of 5.2% from 2019 to 2025. 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 lawn mowers over the forecast period. In addition, rising popularity of well-kept yards and backyard beautification activities across the globe, predominantly in developed economies, is likely to contribute to the market expansion.
Key Takeaways from the report:
The electric lawn mower product segment held the highest market share in 2018; 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 coming years. 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 2018 and is anticipated to register a CAGR of 5.1% over the forecast period
Technological advancements and rapid adoption of robotic lawn mowers 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 market is highly consolidated and characterized by a high level of competition
Some of the leading companies in the market are Deere & 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
For instance, recently, Honda Power Equipment introduced two, all-new Open Frame Inverter (OFI) generators for several residential applications and lightweight construction equipment
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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, rising adoption of green roofs, primarily in developed countries, is also one of the key factors propelling 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 cooling indoors.
In addition, factors like strong GDP growth along with a notable rise in disposable income levels across developing economies has enabled increased investments in farm houses 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, growing popularity of artificial turf or grass may pose as 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 lawn mowers market.
Grand View Research has segmented the global lawn mowers market on the basis of product, end use, and region:
Lawn Mowers Product Outlook (Revenue, USD Billion, 2014 – 2025)
Manual
Electric
Petrol
Robotic
Others
Lawn Mowers End Use Outlook (Revenue, USD Billion, 2014 – 2025)
Residential
Commercial and Government
Lawn Mowers Regional Outlook (Revenue, USD Billion, 2014 – 2025)
North America
U.S.
Europe
U.K.
Germany
France
Italy
Netherlands
Denmark
Finland
Spain
Russia
Asia Pacific
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
UAE
Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
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