Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Lawn Mowers Market size is expected to reach $43.3 billion by 2028, rising at a market growth of 5.5% CAGR during the forecast period.
The Residential segment acquired maximum revenue share in the Global Lawn Mowers Market by End-use in 2021, thereby, achieving a market value of $27.1 billion by 2028. The surging growth of the segment is owing to the increasing trend of lawns-surrounded homes. Lawnmowers are typically used for gardening in domestic settings. The demand for lawn mowers across the residential sector significantly increased. This high demand can be attributed to the worldwide expansion of remote working models, which allow consumers to indulge in leisure activities like gardening or DIY gardening from the comfort of their own homes. As people began to spend more time at home, demand for gardening-related products grew, accelerating the growth of the segment.
The Robotic market is expected to witness a CAGR of 6.7% during (2022 - 2028). Consumer preference for tech-savvy items that offer convenience and environmentally friendly solutions is attributed to the significant segment growth. Furthermore, over the past few years, robotic devices have become more inexpensive, resulting in increased acceptance in developed economies. Consumers choose to link these mowers into their existing smart home environment, which allows them to control the item remotely via a smartphone app. The increased convenience along with lower prices is increasingly expanding the demand for robotic lawn mowers. The growth of this segment is being augmented due to this.
The North America market dominated the Global Lawn Mowers Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $16.7 Million by 2028. The Europe market is estimated to witness a CAGR of 5.1% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 6.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/lawn-mowers-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of The Toro Company, MTD Products, Inc., Falcon Garden Tools Pvt. Ltd., Fiskars Brands, Inc., Husqvarna Group, AriensCo, Hitachi, Ltd., Robert Bosch GmbH, Deere & Company, and Honda Motor Co. Ltd.
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