Lawn Mower Market Booming by Increased Demand for Residential Purposes
Lawn Mower Market by Type (Walk-Behind, Riding & Robotic), End Use (Residential & Commercial), Propulsion Type (ICE & Electric), Battery Type (Lithium-Ion, Lead-Acid), Lawn Size (Small, Medium & Large), Autonomy and Region - Global Forecast to 2027
Northbrook, IL 60062 -- (SBWire) -- 09/29/2022 --The Lawn Mower Market, by value, is projected to grow to USD 33.6 billion by 2027 from USD 23.5 billion in 2022, at a CAGR of 7.4% from 2022 to 2027. The base year for the report is 2021 and the forecast period is from 2022 to 2027. The major factors contributing towards the growth is the developments in residential and commercial purposes. The developments in robotic technologies have also contributed immensely to the growth in demand for lawn mowers across the globe.
With the growing commercial spaces and golf courses, lawns in commercial areas, hotels, and parks, the demand for mechanized lawn mowers with varied engine and cutting configurations are finding pace in the markets across the globe, particularly in North America and European countries. North America itself constitutes around 51% of world's golf courses, with USA particularly holding 43% of it. At the same time European region currently holds around 23% of world's golf courses. In these regions, the development of golf lawns and commercial spaces is picking up pace, because of expansion in municipal areas across the cities, is comparatively higher. Thus, in the coming years, it is evident that lawn mowers is expected to witness a significant boost in the coming years.
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Various developments are also taking place in the commercial lawn mower industry. Commercial mower manufacturers are launching various models with efficiency and performance. Recently, Ferris mowers have launched a 500S Zero Turn Mower, equipped with the Ferris exclusive pivoting front axle and coil-over shocks on each wheel to manoeuvre through difficult terrains.
The way lawn mowers are designed, produced, distributed, supported, and shared is changing as a result of digitalization and new technology such as artificial intelligence (AI), the Internet of Things (IoT), and autonomous technology. For example, new battery technologies are making batteries a useful and feasible alternative for energy storage in a wide range of lawn mowing products manufactured by several key participants in the lawn mowing business, helping to drive the change to a low-carbon economy.
Emerging technologies like Artificial Intelligence in the form of robotic systems can help with automated lawn mowing system with great cutting efficiency. Some robotic mowers have integrated functionality within bespoke apps to alter settings or schedule mowing times and frequency, as well as manually control the mower with a digital joystick, thanks to the rise of smartphones. Technologies like embedded GPS in modern robotic lawn mowers allow them to automatically mow around obstacles or even go to sleep when it starts to rain.
Key Market Players:
The lawn mower market is primarily dominated by globally established players John Deere (US),Honda Motor Co Ltd. (Japan), The Toro Company (US), Husqvarna (Sweden), MTD Products Inc (US), and Kubota (Japan). These companies are consistently developing new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth market across different regions.
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Media Relations Contact
Mr. Aashish Mehra
View this press release online at: http://rwire.com/1364313