How Technology Has Changed The Lawn Mower Market Till 2026?
Rise in consumer interest in gardening activities, increase in adoption of cordless lawnmowers, and usage of lawnmowers equipment to maintain public facilities have boosted the growth of the global lawn mower market. However, high adoption of artificial turf hampers the market growth. On the contrary, emergence of remote-controlled and GPS-equipped products is expected to create lucrative opportunities in the near future.
Busy lifestyles due to globalization and longer working hours tend to affect the leisure time and household work. Hence, this has encouraged people to find alternative ways to spare more leisure time by reducing or eliminating the time required to do household work, which is expected to boost the demand for household automation for daily chores such as cleaning, lawn mowing, and many more. Thus, leads to the rise in demand for lawn mower market globally.
Smartphone penetration throughout the world has increased drastically over the years. Rise in number of smartphones and other mobile devices leads to the development of robotic lawn mower and aids the adoption and growth of lawn mowers. However, the utilization of turfs for sports activities and residential lawns hinders the market growth.
Furthermore, the advancements in artificial intelligence (AI) technology has helped mobile robots to evolve past their limitations and perform their tasks at a greater efficiency. Thus, such greater efficiency coupled with the convenience of applying less human effort has led to widespread adoption of mobile robots such as robotic lawn mowers.
The rapid expansion of the residential construction sector in several countries is expected to spur the demand for landscaping services, which, in turn, is expected to propel the sales of robotic lawn mowers over the forecast period. Additionally, the popularity of well-kept yards and backyard beautification activities is on a rise, predominantly in developed economies, and people are spending increased funds on making their lawns aesthetically appealing. Furthermore, factors such as strong GDP growth, along with a notable rise in disposable incomes across developing economies, are positively affecting market growth by allowing increased investment into properties with sizable lawn areas. These factors are likely to drive market growth over the next few years.
The residential segment held the lion's share in 2018, contributing to more than three-fifths of the global lawn mower market, owing to increase in personal disposable income, changing lifestyle, and increase in DIY activities. However, the non-residential segment is projected to manifest the fastest CAGR of 6.1% during the forecast period, owing to rise in the construction of government-owned offices and properties in developing countries such as Brazil, India, and China. In addition, growth in retail infrastructure across developing nations is anticipated to boost the sales of lawn mowers and other lawn mowing equipment, especially through hypermarkets, specialty stores, and other channels.
These trends and factors are expected to impel the product demand, thereby augmenting market growth. Rapidly expanding commercial and residential construction sectors, especially in developing countries, owing to increasing population is also likely boot the product demand. Moreover, rise in disposable incomes and changing lifestyles in developing countries, such as India and China, are also anticipated to fuel the market growth over the forecast period.
The global lawn mower market across North America dominated in 2018, contributing to nearly half of the market, owing to increase in popularity of green spaces and green roofs and rise in demand for backyard beautification among the residential sector. However, the Asia-Pacific region is anticipated to register the fastest CAGR of 9.5% during the study period, owing to annual events in Asia such as IPL and other sports activities that boost the need to enhance sports fields and stadium.