Lawn Mowers Market To Hit Value .6 Billion By 2030 |Grand View Research, Inc.Posted by Mrudula Karmarkar on September 5th, 2022 The global lawn mowers market size is projected to reach USD 48.6 billion by 2030, registering a CAGR of 5.7%, according to a new report by Grand View Research, Inc. The industry growth witnessed a mild hiccup with supply disruptions from the impact of COVID-19 in 2020; however, the growth declined by not more than one percent. The newly minted work-from-home model paved the way for several consumers with more time to involve in gardening and lawn mowing activities. With households diverting funds from traveling to home landscape projects, the market reached pre-COVID levels in 2021. However, factors such as ongoing semiconductor shortage, rising labor costs, and materials associated with upgraded customer comforts, more robust frames, and high-quality mowers are influencing the lawn mower's prices, thereby limiting the market growth over the forecast period. The rising popularity of autonomous or robotic lawn mowers is expected to drive the market over the forecast period. Consumers are becoming tech-savvy and shunning traditional manual or fuel-powered mowers and shifting towards electric and robotic mowers. Overall, the lawn mower industry has been relatively stagnant for the last few years; however, the advent of products including electric or battery-powered mowers came as a respite in recent times. The trend for advanced products will continue to witness modest growth over the forecast period. Consumers are keen to embrace newer technologies that make their life easier. Therefore, the robotic mowers segment will register a healthy compound annual growth rate over the forecast period. Further, the consumer trends mentioned above, introducing products with sensors, Bluetooth, and Wi-Fi capabilities will bode well for lawn mower market growth over the forecast period. These technologies enable consumers to control the device remotely using a smartphone, allowing convenience. The Husqvarna Group, Positec Germany GmbH, and Robomow are some companies that offer app-based robotic lawn mowers. COVID-19 in 2020 led to a slight decline in market growth due to supply chain disruptions; however, over the forecast period, the market growth will be reasonably modest considering added consumer interest in home gardening activities. Apart from supply chain hiccups, uncertain economic conditions resulted in a temporary dip in consumer spending, impacting the demand in 2020. However, 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 prevalence of households with dual-income has also increased consumer spending power, with demand for lawn maintenance activities on a rise. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/lawn-mowers-market/request/rs1 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 2022. Due to these unfavorable macro-economic conditions, OEMs and dealers are expected to increase the Average Selling Prices (ASP) of lawn mowers in 2022. These developments are likely to be short-lived and are expected to come down by H2 2023. Lawn Mowers Market Report Highlights
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 mowers are 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 market growth. The development of commercial spaces or government-backed infrastructure projects will also play a pivotal role in driving the uptake of lawnmowers in the commercial sector. On-going semiconductor shortage coupled with the surge in raw material prices such as steel, and aluminum, supply & logistic delays, and increasing transportation costs while keeping pace with the growing competition are some of the short-term bottlenecks for OEMs. The focus for almost all OEMs in the market going forward will be to seek ways to make automation an integral part of their product offerings. As consumer inclination towards convenience and ease of use goes up, the demand for automated products is presumed to gain traction. Vendors will focus on product development and new launches as a part of their growth strategy. For instance, in December 2020, Husqvarna launched CEORA, a robotic mower, an autonomous turf care solution developed explicitly for lawn care professionals. Similarly, mergers and acquisitions are also expected to be a catalyst for market growth in the next few years. Some of the prominent players in the lawn mowers market include:
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