Lawn Mower Market Worth $14.5 Billion by 2026 | Top Leading Players, Future Demand, Key Driving Factor

According to a new report published by Allied Market Research, titled, " Lawn Mower Market by Type, End-User, and Fuel Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,"

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The global lawn mower market was valued at $9,746.0 million in 2018 and is projected to reach $14,595.3 million by 2026, growing at a CAGR of 5.1% from 2019 to 2026. In 2018, by type, the ride-on mowers segment accrued the largest share in the lawnmower market. In addition, disposable income throughout the world has increased especially in emerging nations such as China and India. China’s per capita income increased by 9% from 2016 to 2017. Moreover, India’s disposable personal income increased approximately by 9.4% from 2016 to 2017. Therefore, these factors have led to the increase in buying power of people, enabling them to use advanced products, which, in turn, is expected to drive the growth of the market.

Moreover, busy lifestyles due to globalization and longer working hours tend to affect leisure time and household work. Hence, this has encouraged people to find alternative ways to spare more leisure time by reducing or eliminating the time required to do household work, which is expected to boost the demand for household automation for daily chores such as cleaning, lawn mowing, and many more. This leads to the rise in demand for the lawnmower market globally.

Smartphone penetration throughout the world has increased drastically over the years. The rise in the number of smartphones and other mobile devices leads to the development of robotic lawn mowers and aids the adoption and growth of lawnmowers. However, the utilization of turfs for sports activities and residential lawns hinders the market growth.

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Furthermore, the advancements in artificial intelligence (AI) technology has helped mobile robots to evolve past their limitations and perform their tasks at greater efficiency. Thus, such greater efficiency coupled with the convenience of applying less human effort has led to the widespread adoption of mobile robots such as robotic lawnmowers.

On the basis of end-user, the residential segment dominated the market with the largest share in 2018 and the non-residential segment is expected to exhibit significant growth during the forecast period. The proliferation of new residential and commercial properties in developing countries is expected to propel the demand for landscaping services, which, in turn, is anticipated to fuel the growth of the global lawn mower market. In addition, growth in retail infrastructure across developing nations is anticipated to boost the sales of lawnmowers and other lawn mowing equipment, especially through hypermarkets, specialty stores, and other channels.

In terms of value, North America and Europe collectively contributed around 82.5% in the lawnmower market in 2018. For instance, in August 2018, Bosch launched the New ProSilence Rotak series of cordless high-performance mowers. These new mowers feature a 60% reduction in noise and have three models that have 550 to 750 square meters output. The leading players in the global lawn mower industry have focused on product launch and acquisition as their key strategy to gain a significant robotic lawn mower market share.

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 the new Automower 435X AWD, the Automower is an 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%.

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