Lawn Mowers Market Size to Hit Around USD 55.77 Bn by 2033
The global lawn mowers market size was exhibited at USD 32.65 billion in 2023 and is projected to hit around USD 55.77 billion by 2033, growing at a CAGR of 5.5% during the forecast period 2024 to 2033.
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Lawn Mowers Market Key Takeaways:
Increasing awareness of environmental concerns is leading to a demand for eco-friendly, electric, and battery-powered mowers, reducing reliance on traditional gas-powered models. Consumer preferences for low-maintenance, easy-to-use, and durable lawn mowers also play a pivotal role in shaping the market, with manufacturers focusing on developing products that align with these expectations to gain a competitive edge in the industry. Moreover, with work from home, consumers have time to engage in activities like gardening, paving the way for the residential lawn mowers segment growth. In addition to this, households with increased disposable income have also increased consumer spending power, with demand for lawn maintenance activities on a rise.
In China, the demand for lawn mowers is expected to reach above pre-COVID levels in 2023 as the Chinese government pushes for eco-city project developments, subsequently creating avenues for future growth. Further, leisure gardening in China is witnessing a steady rise, projected to favor growth over the next few years. Despite changing consumer preferences or patterns in spending power, aesthetic appeal and eco-awareness for the gardening area within the household is a primary driver for the market.
In 2021, the global market rebounded to pre-COVID levels due to increased demand for battery-powered lawn mowers, notably from North America and Europe. However, ongoing semiconductor shortage concerns, disruption in supply chain activities, rising raw material prices, and a surge in oil prices due to the Russian-Ukraine conflict are expected to slow down the market in 2023. Due to these unfavorable macroeconomic conditions, OEMs and dealers are expected to increase the Average Selling Prices (ASP) of lawn mowers in 2023. These developments are likely to be short-lived and are expected to come down by H2 2023.
Over the next few years, vendor focus will be introducing robotic mowers as the demand for tech-advanced mowers is gaining a foothold with consumers seeking convenience. GPS, Wi-Fi, and other technologies are making inroads in the lawn mowing business and will keep vendors upkeep market growth over the future. Remote-controlled lawn mower is also emerging as a popular choice among consumers in developed regions. In addition to the demand for advanced products, the demand from the affluent middle class taking gardening as a hobby also promotes lawn mowers market growth. The development of government backed or commercial spaces infrastructure projects will also play a crucial part in propelling the demand for lawn mowers in the commercial sector.
Lawn Mowers Market By Product Insights
The electric-powered lawn mowers segment dominated the market and accounted for the largest revenue share of 29.18% in 2023. This growth is ascribed to ease of use and high torque to weight ratio, enabling these lawn mowers to cut tall grass. The segment captured a sizeable share in 2021 and is anticipated to register a steady CAGR exceeding 5.4% from 2024 to 2033. Furthermore, these lawn mowers are now one of the most often used alternatives among consumers due to innovation and development in battery-powered engines that have boosted their robustness and efficiency.
Lawn Mowers Market By End-Use Insights
The residential segment dominated the market and accounted for the largest revenue share of over 59.0% in 2023. Lawn mowers are primarily used in a residential setting for gardening applications, whereas in commercial spaces, for large-scale landscaping applications and lawn maintenance. The demand for lawn mowers in the residential market witnessed an uptick post-2021 and exceeded USD 18 billion in 2023. This healthy demand is ascribed to the proliferation of remote working models worldwide, giving consumers time to engage in leisure activities such as gardening or DIY gardening from their homes. As consumers began to spend more time at home, the demand for products associated with gardening gained traction, a trend that is expected to go on for at least the next two years.
Lawn Mowers Market By Regional Insight
North America dominated the lawn mowers market and has the largest revenue share of 35.03% in 2023. Developed markets such as North America and Europe markets with high demand. In 2021, these regional markets held their leading positions in terms of market share, collectively surpassing 60%. Over the last few years, increasing urbanization in Western Europe has made houses smaller, in turn reducing garden size. This trend may become a serious threat to the uptake of lawn mowers in the region. However, the maintenance and development of lawns in commercial buildings will provide some respite to the otherwise challenged lawn mowers industry growth.
Lawn Mowers Market Recent Developments
Some of the prominent players in the global lawn mowers market include:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global lawn mowers market
Product
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Product Type
Propulsion
End-use
Regional
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