Lawn Mower Market is expected to display a steady growth by 2028|CAGR: 7%| UnivDatos Market Insights

According to a new report published by UnivDatos Markets Insights, the Lawn Mower Market is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Type (Walk-Behind, Riding, and Robotic); Sales Channel (Offline and Online); Propulsion Type (ICE and Electric); Region/Country.

The lawn mower market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the lawn mower market. The lawn mower market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Lawn Mower market at the global and regional levels.

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Market Overview

The lawn mower market is expected to register a CAGR of around 7% over the period of 2022-2028. This is primarily due to the rising demand for attractive lawns in gated societies and communities. Homeowners are now more inclined towards spending on lawns and playgrounds in societies. Moreover, these facilities are often considered imperative to the aesthetic value of any property. Further, the rise in dual-income households coupled with lower housing prices in suburbs led to increased investments in big residential spaces with lawns. Thus, this expansion of residential areas with lawns throughout regions has led to a rise in the need for lawn mowers to maintain the lawns around housing societies.

According to the American Community Survey, the number of housing units remained at 139.69 million in 2019, up 1.15 million from 138.54 million in 2018 and 7.90 million from 131.79 million in 2010. The growth of smart cities and green spaces, which is required as a result of urbanization, necessitates the building of new structures and the maintenance of public parks and green spaces.

Some of the major players operating in the market include Honda Motor Co. Ltd., Deere & Company, Husqvarna Motorcycles GmbH, Toro Co., Stanley Black & Decker Inc., Yamabiko Corporation, Robert Bosch GmbH, Kubota Corporation, STIHL, and Ariens Company.

COVID-19 Impact

Due to travel limitations and the projected dismal financial performance of market players in 2020, the spread of the COVID-19 pandemic has hurt the lawn mower industry. Supply chain execution, regulatory and policy changes, labor reliance, working capital management, and liquidity and solvency management are all major concerns for Lawn mower manufacturers. Since the COVID-19 epidemic has considerably diminished by the beginning of 2021, a lot of businesses are resuming operations. In terms of demand and supply, China, as a manufacturing powerhouse, is controlling the global industry. China's supply shortages have triggered a chain reaction throughout the world.

The global lawn mower market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·???????Based on the sales channel, the lawn mower market is divided into offline and online. The online segment is expected to witness the highest growth during the forecast period. This is mainly due to the increase in customer presence on digital platforms to drive demand through the online channel. Furthermore, the growing penetration of e-commerce platforms across the world coupled with increasing awareness regarding services offered by these platforms. Furthermore, the growing focus on digitization and rising internet penetration coupled with the strategic alliance of market players with e-retail giants such as Amazon and Alibaba to boost growth.

Based on propulsion type, the lawn mower market is categorized into ICE and electric. The electric segment is expected to witness a higher growth rate during the forecast period. This can be attributed to the growing awareness and adoption of environment-friendly electronics for households and commercial purposes. Furthermore, advancements in battery-powered engines have increased the durability and efficiency of these mowers. In addition, major players in the market are continuously focusing on launching advanced products and entering new markets. Thus, driving the market for electric lawn mowers. For instance, in 2020, MTD Products launched its German brand Wolf-Garten electric lawn movers to India with three new A-series cordless lawn movers.

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Lawn Mower Market Geographical Segmentation Includes:

·???????North America (United States, Canada, and Rest of North America)

·???????Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·???????Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·???????Rest of the World

North America grabbed the leading market share of the global market in 2020, and it is expected to grow with considerable CAGR during the forecast period owing to the growing working population and expanding middle-class population thus creating demand for advanced and robotic lawn mowers.

The market for automated products is also anticipated to grow as consumer preference for convenience and usability increases. As part of their growth plan, major market players are concentrating on product development and new product launches in the region. For instance, in 2020, Husqvarna introduced CEORA, a robotic lawnmower and autonomous turf care system designed specifically for lawn care professionals.

Thus, the presence of key players in the region coupled with the growing adoption of electric and robotic lawn mowers for commercial purposes is further expected to boost the market in North America.

The major players targeting the market include

·???????Honda Motor Co. Ltd.

·???????Deere & Company

·???????Husqvarna Motorcycles GmbH

·???????Toro Co.

·???????Stanley Black & Decker Inc.

·???????Yamabiko Corporation

·???????Robert Bosch GmbH

·???????Kubota Corporation

·???????STIHL

·???????Ariens Company ?

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Lawn Mower market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

? What are the latest trends, new patterns, and technological advancements in the Lawn Mower market?

? Which factors are influencing the Lawn Mower market over the forecast period?

? What are the global challenges, threats, and risks in the Lawn Mower market?

? Which factors are propelling and restraining the Lawn Mower market?

? What are the demanding global regions of the Lawn Mower market?

? What will be the global market size in the upcoming years?

? What are the crucial market acquisition strategies and policies applied by global companies?

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