Lawn Mowers Market Size, Share & Trends Analysis Report By Product (Manual, Electric, Petrol, Robotic), By End Use (Residential, Commercial/Government), By Region, And Segment Forecasts, 2020 - 2027
New York, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lawn Mowers Market Size, Share & Trends Analysis Report By Product, By End Use, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05744656/?utm_source=GNW
The global lawn mowers market size is expected to reach USD 43.7 billion by 2027, growing at a CAGR of 5.6%. Rapidly expanding residential construction sector across the globe is spurring the demand for landscaping services, which, in turn, is expected to propel the demand for lawn mowers over the forecast period. In addition, rising popularity of well-kept yards and backyard beautification activities across the globe, predominantly in developed economies, is likely to contribute to market expansion.
Lawn mowers are indispensable machines as they offer great aid and convenience in undertaking a number of gardening activities; thus ensuring superior lawn quality.These factors are likely to drive their demand over the next few years.
Furthermore, rising adoption of green roofs, primarily in developed countries, is also one of the key factors propelling market growth.Increasing environmental concerns pertaining to global warming, fuel emissions, and Greenhouse Gases (GHG) have encouraged the usage of green roofs in residential as well as commercial buildings, as these structures absorb UV rays and reduce GHG emissions.
Moreover, green roofs impart enhanced shading and cooling effect, thereby reducing the costs associated with indoor cooling.
In addition, factors like strong GDP growth along with a notable rise in disposable income levels across developing economies has enabled increased investments in farm houses and bungalows with sizeable gardening areas.This has triggered the demand for gardening tools, such as weeders and mowers, thereby fueling market growth.
However, growing popularity of artificial turf or grass may pose as a major threat to the product.Artificial grass does not require mowing, watering, or fertilizing like natural grass.
The convenience and low cost associated with artificial grass are further compelling its increased adoption across residential and commercial spaces. This is expected to hinder the growth of the market.
Further key findings from the report suggest:
• The electric lawn mower product segment held the largest market share in 2019; however, robotic lawn mower is projected to exhibit the fastest CAGR over the forecast period owing to its benefits over other products
• The residential sector is expected to emerge as the largest segment in coming years. Rapidly expanding residential construction sector, especially in developing regions, is the key driving factor for the segment
• Europe accounted for a significant share of the global market in 2019 and is anticipated to register a CAGR of 5.4% over the forecast period
• Technological advancements and rapid adoption of robotic lawn mowers in various countries, such as Germany, France, and Switzerland, are opening up new growth opportunities for companies offering advanced product variants
• The vendor landscape of the lawn mowers market is highly consolidated and characterized by a high level of competition
• Some of the leading companies in the market are Deere and Company; MTD Products; American Honda Motor Co., Inc.; and Robert Bosch GmbH. These companies are focusing on product development to strengthen their foothold in the global market.
Read the full report: https://www.reportlinker.com/p05744656/?utm_source=GNW
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