Cutting Edge Innovation: Exploring the Lawn Mowers Market

TEXES, AUSTIN, UNITED STATES, June 7, 2024 /EINPresswire.com/ -- The Lawn Mower Market Size was valued at USD 32.45 billion in 2023. It is projected to reach USD 52 billion by 2031.

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Top Key Players:
Deere & Company
American Honda Motor Co., Inc
Robert Bosch GmbH
Ariens Company
The Toro Company
MTD Products
Briggs Stratton
Robomow Friendly House
Dreametech Technology
Husqvarna Group

Homeownership rates around 70% in developed economies like the US translate to a large potential customer base for maintaining personal lawns.
Additionally, the growing popularity of outdoor activities at 62% in the US and rising disposable incomes contribute to increased investment in beautifying outdoor spaces. Furthermore, environmental concerns are pushing demand for eco-friendly alternatives with electric and battery-powered mowers accounting for a projected 40% share of the market by 2031 due to growing environmental awareness.

Major Threats:
While gas-powered mowers still dominate at 70%, stricter emission regulations are expected to dampen their appeal. On the other hand, electric mowers, a rising star at 20% of the market, face limitations. Their shorter runtime restricts them to smaller lawns, and concerns linger about battery life and replacement costs. Robotic mowers, though intriguing at 10% of the market, come with hefty price tags and require upfront investment in boundary wires.

While 72% of households in the US still rely on gas mowers, a growing 18% are embracing electric mowers, seeking quieter operation and reduced emissions.
This shift is particularly prominent among environmentally conscious millennials, who account for 42% of electric mower sales. Additionally, with 58% of homeowners spending over 4 hours mowing their lawns annually, the market is ripe for innovation in time-saving solutions. This could include advancements in robotic mowers that overcome limitations like short battery life or self-emptying features for robotic models desired by 71% of those considering them.

By product including robotic mowers, projected to experience the fastest growth exceeding 5.4% CAGR according to SNS Insider analysis due to their autonomous operation and convenience.
In terms of fuel, electric mowers currently dominate with a dominant share exceeding 30%. This can be attributed to factors like ease of use, lower noise pollution, and advancements in battery technology that enhance their efficiency and durability

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North America, with its extensive lawns and high disposable incomes over 40% of global market share, dominate in conventional mowers.
However, robotic mowers are experiencing a rise, particularly due to busy lifestyles. Europe follows closely around 35% share, driven by rising environmental consciousness. Here, government incentives for eco-friendly landscaping play a crucial role. The Asia Pacific region holds the fastest growth projected at over 50%, driven by rapid urbanization and a expanding middle class. Interestingly, demand is split between petrol mowers and electric mowers gaining traction for their eco-friendliness.

Recent Developments:
Leading companies like Husqvarna and MTD Products are revamping their electric mower lines, with a focus on extended battery life. This includes to 68% of homeowners who prioritize eco-friendly options, according to a recent industry survey.
Giants like Deere & Company are upping the automation ante. Their latest robotic mowers boast improved obstacle detection and self-docking capabilities, making them attractive to busy homeowners.
This focus on tech is expected to promote the smart lawn mower segment by a significant 35% in the next three years, offering a glimpse into the future of effortless lawn care.

Key Takeaways:
Residential users account for the largest portion of the market, at around 70%, with professional landscapers and municipalities making up the remaining 30%. Interestingly, the demand for eco-friendly solutions is rising.

Electric and battery-powered mowers are expected to capture over 40% of the market share by 2030, displacing gas-powered models as environmental consciousness takes root. This shift aligns with another key trend: consumer preference for convenience.

Over 60% of buyers seek low-maintenance mowers that are easy to use, with features like self-propulsion and automated functionalities like robotic lawnmowers gaining significant traction.

Akash Anand
SNS Insider | Strategy and Stats
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