The global lawn mowers market is expected to reach USD 38.2 billion by 2025, according to a new report by Grand View Research, Inc. The growing residential development is spurring the demand for landscaping services, which, in turn, is expected to propel the demand for lawn care tools over the forecast period.
The rise in single homes, owing to the growing nuclear family culture in the U.S., has led to the construction of houses. The growing trend toward investing more time in one’s home leads to a higher interest in outdoor & gardening-related activities. A well-kept yard forms an integral part of an attractive house. Lawn maintenance tools are essential for the basic yard maintenance and offer a great aid & convenience in garden maintenance.
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The surging need for landscaping services in order to extend the aesthetic appeal to residential and commercial properties is anticipated to elevate the product demand. The developing trend of backyard beautification in North America and Europe is further expected to fuel product demand in these regions.
Increasing technological advancements are another major factor driving market growth. The replacement of conventionally used hand-guided mowers with robotic & electric ones is a key trend witnessed in the market. Moreover, the increasing availability of such technologically advanced products with enhanced features is triggering more interest in gardening.
Moreover, the key market players are enhancing the capabilities of their mowers so as to widen their product offerings in order to gain a competitive edge in the industry. In addition to this, manufacturers are increasingly promoting robotic equipment for gardening, thus augmenting consumer awareness, which is expected to drive the adoption of the product.
However, the increasing popularity of artificial grass is expected to serve as a major threat for the demand for lawn mowers. This type of grass does not require mowing, watering and fertilizing like the natural grass. Thus, artificial grass is increasingly becoming a great money saver for the customers possessing gardens and thereby creating threat for the lawn mowers adoption. Additionally, the high cost of robotic gardening equipment is one of the major challenges confronted by the consumers. All these factors are projected to hamper market growth in the near future.
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Further key findings from the report suggest:
• The global lawn mowers market is expected to witness a CAGR exceeding 4% over the forecast period owing to the rising demand for landscaping services.
• Electric mowers accounted for the largest market share in 2016; however, robotic products are projected to witness a high growth over the forecast period.
• Residential end-use segment held the highest revenue in 2016 and the trend is expected to continue over the forecast period.
• The North American region accounted for over 30% of the overall revenue share in 2016; however, Asia Pacific is expected to witness a high growth over the next eight years.
• Deere & Company, MTD Products Inc., American Honda Motor Co., Inc. (Honda Power Equipment), Husqvarna Group, and Ariens Company, among others, were a few key players that captured a significant market share in 2016.
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