Lawn Mower Market to Witness Rapid Growth by Top Key Players Hitachi, Ltd., Deere & Company, Husqvarna Group

Rise in consumer interest in gardening activities, increase in adoption of cordless lawnmowers, and usage of lawnmowers equipment to maintain public facilities have boosted the growth of the global lawn mower market. However, high adoption of artificial turf hampers the market growth. On the contrary, emergence of remote-controlled and GPS-equipped products is expected to create lucrative opportunities in the near future.

These trends & factors are expected to impel the product demand, thereby augmenting market growth. Rapidly expanding commercial and residential construction sectors, especially in developing countries, owing to increasing population is also likely boot the product demand. Moreover, rise in disposable incomes and changing lifestyles in developing countries, such as India and China, are also anticipated to fuel the market growth over the forecast period.

Global lawn mower industry was pegged at $9.75 billion in 2018 and is projected to reach $14.59 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026. The market has witnessed a number of developments in terms of technology and product over the past few years.

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The robotic mowers segment is expected to register the fastest CAGR of 10.1% during the forecast period, owing to rapid launches of new products by market players to improve product portfolio and intense competition. However, the ride-on mowers segment held the largest share in 2018, contributing to nearly three-fifths of the global lawn mower market, owing to the factors such as fuel cost-saving and energy-efficient.

The residential segment held the lion's share in 2018, contributing to more than three-fifths of the global lawn mower market, owing to increase in personal disposable income, changing lifestyle, and increase in DIY activities. However, the non-residential segment is projected to manifest the fastest CAGR of 6.1% during the forecast period, owing to rise in the construction of government-owned offices and properties in developing countries such as Brazil, India, and China.

The global lawn mower market across North America dominated in 2018, contributing to nearly half of the market, owing to increase in popularity of green spaces and green roofs and rise in demand for backyard beautification among the residential sector. However, the Asia-Pacific region is anticipated to register the fastest CAGR of 9.5% during the study period, owing to annual events in Asia such as IPL and other sports activities that boost the need to enhance sports fields and stadium.

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The key players profiled in the report include Andreas Stihl AG & Co. KG, Deere & Company, Hitachi, Ltd., Honda Motor Co., Ltd., Husqvarna Group, MTD Products, Robert Bosch GmbH, Stiga S.p.A, The Toro Company, and Textron.

Many players have adopted product development as their key developmental strategy to improve their product portfolio. For instance, in February 2019, Husqvarna launched new Automower 435X AWD, the Automower is AI enabled, robotic mower and features all-wheel drive. The mower has smart home connectivity and can work with Amazon Alexa, Google Home, and could be integrated with API for smart home applications. It can also be used on rough terrains and slopes with an inclination of up to 70%.

Key Findings of the Lawn Mower Market:
o The report provides an extensive analysis of the current and emerging lawn mower market trends and dynamics.
o Depending on type, the ride-on mowers segment dominated the market, in terms of revenue in 2018 and robotic mowers segment is projected to grow at a CAGR 10.1% during the forecast period.
o By end-user, the residential segment dominated the lawn mower market in 2018.
o Asia-Pacific is projected to register the highest growth rate in the coming years.
o Key market players within the lawn mower market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the lawn mower industry.
o The report provides an extensive analysis of the lawn mower market trends and emerging opportunities of the market.
o In-depth lawn mower market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
o The global lawn mower market forecast analysis from 2019 to 2026 is included in the report.

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