Yahoo Finance Electric Lawn Mower Market size is set to grow by USD 3.60 billion from 2024-2028, Increasing number of product launches boost the market, Technavio
NEW YORK, June 10, 2024 /PRNewswire/ -- The global electric lawn mower market size is estimated to grow by USD 3.60 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.43% during the forecast period. Increasing number of product launches is driving market growth, with a trend towards automation in lawn care. However, rising preference for pre-used and rented electric lawn mowers poses a challenge. Key market players include ANDREAS STIHL AG and Co. KG, AriensCo, Briggs and Stratton LLC, D and D Motor Systems Inc., Deere and Co., EGO POWER, Emak Spa, Generac Holdings Inc., Greenworks Tools, Honda Motor Co. Ltd., Husqvarna AB, Robert Bosch GmbH, Sharpex Engineering Works, Snow Joe LLC, Stanley Black and Decker Inc., STIGA S.p.A., The Great States Corp., The Toro Co., Techtronic Industries Co. Ltd., and Unison Engg. Industries.
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Electric Lawn Mower Market Scope | |
Report Coverage | Details |
Base year | 2023 |
Historic period | 2018 - 2022 |
Forecast period | 2024-2028 |
Growth momentum & CAGR | Accelerate at a CAGR of 10.43% |
Market growth 2024-2028 | USD 3607.5 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 8.64 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution | North America at 39% |
Key countries | US, Germany, France, UK, and China |
Key companies profiled | ANDREAS STIHL AG and Co. KG, AriensCo, Briggs and Stratton LLC, D and D Motor Systems Inc., Deere and Co., EGO POWER, Emak Spa, Generac Holdings Inc., Greenworks Tools, Honda Motor Co. Ltd., Husqvarna AB, Robert Bosch GmbH, Sharpex Engineering Works, Snow Joe LLC, Stanley Black and Decker Inc., STIGA S.p.A., The Great States Corp., The Toro Co., Techtronic Industries Co. Ltd., and Unison Engg. Industries |
Market Driver
Electric lawn mowers with automation technology are gaining popularity due to their time-saving and efficient capabilities. Vendors like Robert Bosch and Husqvarna provide autonomous lawn care solutions, offering advanced maneuverability and control through smartphone apps.
These robotic mowers come with safety features, including automatic start and finish, and can detect objects to avoid collisions. With features like remote charging and increased coverage areas, the market for electric lawn mowers is expected to grow significantly during the forecast period.
The electric lawn mower market is experiencing significant growth due to the increasing trend towards eco-friendly gardening tools. According to industry reports, sales of electric mowers have seen a steady rise in recent years. This is attributed to their quiet operation, low maintenance, and environmental friendliness.
Moreover, advancements in battery technology have led to longer run times and increased power, making electric mowers a viable alternative to their gas-powered counterparts. Additionally, the convenience of cordless models and the availability of affordable options have further boosted market growth. Overall, the electric lawn mower market is poised for continued expansion in the coming years.
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Market Challenges
• The global electric lawn mower market experiences growth as vendors introduce enhanced models. However, not all consumers can afford new electric lawn mowers. Pre-owned electric lawn mowers, available through advertisements, online portals like Gumtree and eBay, and repair shops, remain a popular choice for cost-conscious consumers.
• Rental services from companies such as HSS Hire Service Group and Home Depot Product Authority also attract consumers due to cost savings, negatively impacting new unit sales and market growth during the forecast period.
• The electric lawn mower market faces several challenges. Product development involves creating mowers with longer battery life and more powerful motors to match gas-powered counterparts. Cost-effective manufacturing is crucial to remain competitive. Additionally, consumer preferences lean towards quieter and more environmentally-friendly options.
• Regarding distribution, logistics and supply chain management are essential to ensure timely delivery of products. Furthermore, marketing efforts must focus on educating consumers about the benefits of electric lawn mowers and addressing concerns regarding initial investment costs. Lastly, regulations and standards must be met to ensure safety and compliance.
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Segment Overview
End-user
1.1 Commercial
1.2 Residential
Type
2.1 Cordless electric lawn mower
2.2 Corded electric lawn mower
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Commercial- The commercial electric lawn mower market caters to public parks, amusement parks, tech parks, golf courses, government buildings, sports grounds, and garden care service companies. Due to larger areas, commercial users prefer heavy-duty electric models over hand tools. New product launches, like AriensCo's electric zero-turns, increase sales and market growth. Key vendors include AriensCo, Stanley Black and Decker, Deere and Co., and Husqvarna, making this segment a significant market driver.
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Research Analysis
The Electric Lawn Mower Market is experiencing significant growth due to the increasing demand for eco-friendly and sustainable landscaping solutions. Lithium-ion technology, a key battery technology, is driving innovation in the ride-on segment, offering longer battery life and improved performance compared to traditional gas-powered models. Seasonality and gardening activities continue to impact the market, with commercial real estate, such as golf courses and large parks, leading the adoption of battery-powered lawnmowers.
Developing markets are also showing strong potential for growth in the walk-behind and cordless segments. The supply chain networks are evolving to meet the increasing demand for eco-friendly products, including zero-emission lawn mowers. Human effort is being replaced with revolving blades and levers, making lawn care more efficient and convenient. Sustainability and green roofs are also emerging trends in the landscaping industry, further boosting the market for electric mowers.
Market Research Overview
The electric lawn mower market is experiencing significant growth due to the increasing demand for eco-friendly and low maintenance gardening tools. These mowers offer several advantages over their gas-powered counterparts, including quieter operation, reduced emissions, and lower operating costs.
The market is driven by factors such as increasing urbanization, rising disposable income, and growing awareness about environmental sustainability. Additionally, technological advancements in battery technology and motor efficiency are contributing to the development of more powerful and efficient electric lawn mowers. Overall, the electric lawn mower market is poised for continued growth in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Type
Geography
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
