Power lawn mowers: Key market research findings
- North America drives market growth
- Gas-powered segment accounts for a majority of the market’s revenue
- Key vendors – Deere & Company, Husqvarna, MTD Products, and Toro
Technavio’s market research analysts predict the global market for power lawn mowers to grow at a CAGR of more than 4% between 2016 and 2020. The growth of this market is fueled by the increasing adoption of green roofs. Green roofs have several benefits such as ability to filter airborne pollutants, reduce carbon dioxide emissions, and reduce energy consumption. In green roofing, different varieties 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. During 2015, the global power lawn mower market was dominated by North America with a market share of around 58%. New product launches with technological advancements, improved features, and better efficiency will fuel the demand for power lawn mowers in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the power lawn mower segments based on the power source.
“Vendors in the market are engaging in increased marketing initiatives in an attempt to strengthen their foothold in the competitive market. Manufacturers are using advertising and promotions effectively to improve product awareness and enhance brand value. Most vendors prefer showcasing their products at retail chains or trade shows, while others make use of market research groups to gather customer feedback. Such marketing strategies are expected to reflect positively on the market’s growth over the next four years,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the gas-powered segment will continue its domination over the global power lawn mower market by accounting for almost 83% of the overall market value. Gas-powered lawn mowers have an internal combustion engine (ICE) and use propane, gasoline, or diesel as fuel. These lawn mowers can cut tough grass efficiently and run for a longer time than their electric and battery-powered counterparts. The area of operation for these lawn mowers is not restricted by electric cords thereby making them ideal for large lawns and gardens.
The key vendors in the global power lawn mowers market include Deere & Company, Husqvarna, MTD Products, and Toro. The competitive environment in this market is anticipated to intensify over the next four years because of an increase in product extensions, technological innovations, and M&A. Intense competition, rapid advances in technology, frequently changing consumer preferences, and growing rental market for power lawn mowers may impact the market growth during the forecast period. We foresee increased market consolidation, given the intensifying competitive landscape.
A more detailed analysis is available in the Technavio report, Global Power Lawn Mower Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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