Lawn Mower Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Type (Walk-behind, Riding, and Robotic); Sales Channel (Offline and Online); Propulsion Type (Internal Combustion Engine (ICE) and Electric); Region/Country
Detailed Analysis of COVID-19 Impact on the Lawn Mower Market:
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.
Furthermore, inclination toward automation and technology has further created opportunities for market players in the industry. Major stakeholders in the market are continuously developing new-age lawn mowers providing convenient & easily usable as well as environment-friendly options for the consumers. For instance, In January 2022, The Toro Company introduced Z Master 7500-D 144 which adapts to cutting conditions and terrain on the fly by having the ability to choose the correct operating mode for the conditions with Toro’s Horizon technology. The Horizon onboard intelligence platform enhances the performance of the machine in various mowing conditions and protects the mower by monitoring engine oil temperature and pressure.
Similarly, in 2020, Husqvarna introduced CEORA, a robotic lawnmower and autonomous turf care system designed specifically for lawn care professionals.
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.
Insights Presented in the Report
“Amongst type, Riding lawn mowers category to hold prominent share during the forecast period”
Based on type, the lawn mower market is segmented into walk-behind, riding, and robotic. Riding lawn mowers to witness a significant rise in market share during the forecast period. This is mainly due to the increasing application for mowing large-size lawn spaces coupled with the introduction of riding electric lawn mowers by major players in the market. Furthermore, continuous technological advancements and improvements in battery capacity and range have made electric riding mowers increasingly capable of competing with engine-driven models on both performance (power, run time) and price.
“Amongst propulsion type, electric lawn mowers to witness significant growth during the forecast period”
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.
“North America to hold a significant share in the market”
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 February 2021, The Toro Company introduced Greensmaster e1021 mower which takes electrical efficiency to a new level, allowing operators to mow up to 35,000 square feet (over 3,000 square meters) of turf on a single charge. A convenient LCD screen gives the operator an instant view of the ongoing battery charge status and indicates diagnostics, machine hours, overall battery health, and initiating backlapping.
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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Lawn Mower Market|
|2.2.||Research Methodology of the Lawn Mower Market|
|5||IMPACT OF COVID-19 ON THE LAWN MOWER MARKET|
|6||LAWN MOWER MARKET REVENUE (USD BN), 2020-2028F|
|9.1.||Internal Combustion Engine (ICE)|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia-Pacific|
|10.4.||Rest of the World|
|12||LAWN MOWER MARKET OPPORTUNITIES|
|13||LAWN MOWER MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Fiver Forces Analysis|
|17.1.||Honda Motor Co. Ltd.|
|17.2.||Deere & Company|
|17.3.||Husqvarna Motorcycles GmbH|
|17.5.||Stanley Black & Decker Inc.|
|17.7.||Robert Bosch GmbH|
Research Methodology for the Lawn Mower Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global lawn mower market were the three major steps undertaken to create and analyze the adoption of lawn mowers in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global lawn mower market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the lawn mower market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the lawn mower market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, propulsion type, and sales channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the lawn mower market. Further, we conducted factor analysis using dependent and independent variables such as various types, propulsion types, and sales channels of lawn mowers. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the lawn mower market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global lawn mower market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the lawn mower market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global lawn mower market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Primary research input was consolidated with secondary findings, turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global lawn mower market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, propulsion type, and sales channel in the global lawn mower market.
The main objective of the Global Lawn Mower Market Study
The current & future market trends of the global lawn mower market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the lawn mower market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, propulsion type, and sales channel analysis of the regulatory framework for the lawn mower
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the lawn mower market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the lawn mower market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry