|06-19-2018 08:49 AM CET - Business, Economy, Finances, Banking & Insurance||
Global Electric Lawn Mower Market Production, Trends, Price, Revenue, Share, Growth and Forecast Until 2028
Press release from: Fact.MR
Electric lawn mowers are catching the imagination of a rapidly growing ‘environmentally-conscious’ demographic. Demand is also positively influenced by significant upgrades in battery power and precision cutting. On the coattails of these factors, global sales are likely to surpass 10 million units in 2019, equating a market value in the vicinity of US$ 9 Bn.
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Demand for electric lawn mowers – subdued in the past due to low battery life and inappropriate mowing capacity – has been gaining ground at a quick pace. Lawn mower manufacturers have been quick to assess end-user demand, and the market has witnessed launch of several electric variants that can rival gasoline based variants for longevity and precision. However, the report finds that high price of electric lawn mowers continues to be a deterrent.
Sensing the needs of end-users, manufacturers have launched electric lawn mowers across a range of power capacities. 500-1800W electric lawn mowers continue to be the highest selling variant, with ‘up to 500W’ also emerging as a lucrative segment. The report projects ‘up to 500W’ electric lawn mowers to grow at a slightly higher rate vis-à-vis 500-1800W variants, however the latter will reign supreme – both in terms of volume and value throughout the assessment period.
Robotic electric lawn mowers are likely to witness impressive growth rates, albeit from a small base. Robotic electric lawn mowers are expensive, which has led to sales concentration among specific demographics. However, as manufacturers focus on reducing the overall price on the back of technological innovations, uptake is likely to grow at a brisk pace. www.factmr.com/connectus/sample?flag=S&rep_id=811The dominance of this segment can be gauged from the fact that 80% of all electric lawn mowers sold in 2017 were ‘walk behinds’.
The report finds that consumers prefer to shop for electric lawn mowers in conventional retail stores, whereas online sales have started to complement demand. 70% of all electric lawn mower sales in 2017 were through conventional retail stores. Although sales through online stores are likely to grow at a slightly higher rate vis-à-vis online channels, the former will remain the pervasive sales channel throughout the forecast period.
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Seasonality: A Key Influencing Factor
In addition to the all the above mentioned factors, electric lawn mower sales are also massively influenced by seasonality. Electric lawn mower sales are usually concentrated in the spring and summer season, as most of the lawn care and gardening activities take place during this season.
Electric Lawn Mowers Going Cordless
A notable trend witnessed in the market is the steady shift from corded electric lawn mowers to cordless variants. Corded electric lawn mowers prevent free maneuver, and are inconvenient to use than cordless electric lawn mowers. Although corded electric lawn mowers still outsell cordless variants, the latter will grow at a higher rate during the assessment period.
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This release was published on openPR.
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