Top 3 Drivers Leading to the Growth of the Power Lawn Mowers Market Until 2020, Reports Technavio
LONDON–(BUSINESS WIRE)–#ConsumerAndRetail—Technavio
analysts forecast the global
power lawn mowers market to grow at a CAGR of over 4%
during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of
the global power
lawn mowers market for 2016-2020. To calculate the
market size, the report has taken into consideration the revenue
generated from the retail sales of power lawn mowers to residential
consumers and commercial consumers.
The global power lawn mower industry is witnessing a shift from the
gas-powered lawn mowers to the battery-powered lawn mowers. This is
primarily because gas-powered lawn mowers cause air pollution and lead
to environmental degradation. Consumers in urban areas across the world
are developing an interest in landscaping. Increasing temperature and
the need to reduce carbon dioxide in the air is leading to fast-paced
adoption of green roofs in countries like the US, Japan, Canada, and the
UK. This is directly influencing the sales of power lawn mowers
worldwide.
Technavio consumer
goods and retail analysts highlight the following three factors
that are contributing to the growth of the global power lawn mowers
market:
- Increase in landscaping services
- Improved product features
- Adoption of green roofs
Increase in landscaping services
The increasing preference for enhancing the aesthetic appeal of
residential and commercial properties with green areas, patios, and
yards is gaining momentum around the world. As a result, landscaping of lawns
and gardens is generating more interest. Rising disposable
income is also encouraging consumers to spend on landscaping services.
In addition to providing aesthetic appeal to the property, landscaping
can increase its value by 11%-12%.
Mantri Charan Kumar, a lead retail
goods and services analyst at Technavio, says, “Presently,
over 75% of the US households have lawns, and this percentage translates
to a total of 18 million lawn acreage. The average annual spending on
lawn care in the country amounts to USD 40 billion. The landscaping
industry in China is segmented into real estate garden, municipal
garden, and ecological restoration.”
Unfavorable weather conditions like floods, dry summers, and heavy
snowfalls create a demand for the repair of different types of
landscapes like lawns, trees, hedges,
and gardens, triggering a need for power lawn mowers.
In the golf
segment, the need to provide high-quality playability, coupled with
environmental sustainability and aesthetics is propelling the market for power
lawn mowers.
Improved product features
The players in the global power lawn mowers market are introducing new
models with improved features to enhance efficiency and productivity.
Some of the improved features being incorporated in the power lawn
mowers include variable speed technologies, low-noise blades, increased
blade size, lithium-ion battery technologies, and need for less storage
room. The Toro SmartStow lawn mower is one such example which
uses up to 70% less storage room, its engine with Mow N’ Stow technology
enables it to be stored upright without any gas
or oil spillage.
“In particular, advances in battery technologies, including lower
prices of lead acid and lithium-ion rechargeable battery packs and
improved performance have allowed manufacturers to develop cordless
electric mowers and other equipment for which mobility is a key factor,”
adds Mantri.
Adoption of green roofs
Green roofs have several benefits such as ability to filter
airborne pollutants, reduce carbon dioxide emissions, and reduce energy
consumption. Economic growth around the world has led to
industrialization and has created many environmental problems. The
temperature is increasing at an alarming rate because of the increase in
the population, industrialization, and the number of vehicles. Green
roof adoption is an efficient solution and is rapidly picking up in most
developed countries across the globe.
Different types of plants and grass
are grown on the roof of the buildings. In addition to cooling the urban
environment, insulating buildings, absorbing air pollution, and
increasing biodiversity, green roofs also serve as micro parks. Few
countries where the concept of green roofs has gained significant
popularity include the US, UK, Germany, Japan, Canada, and Spain. In
China, the government is giving subsidies to create green roofs. Over
1.07 million square feet green roof space is being created every year
since 2005. About 1 billion square feet of roof space is suitable for
cost-effective green roof adoption in Beijing, which according to a
recent study, can reduce air-particle pollution by approximately 880
metric tons every year, equivalent to taking 730,000 cars off the road
in the city.
Key vendors:
| Husqvarna |
| John Deere |
| MTD Products |
| The Toro Company |
Source: Technavio
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