Rising Technological Innovations In Lithium-Ions Surges The Eco-Friendly Electric Lawn Mower Industry with A CAGR of 6.3%: Latest Study By Fact.MR
SEOUL--(Korea Newswire) May 11, 2022 -- According to the latest report published by Fact.MR, Sales of the electric lawn mower market are estimated at USD 14.8 Billion in 2022 and are forecast to surpass USD 27.4 Billion by 2032, growing at a CAGR of 6.3% during 2022-2032.
Revenue share of electric lawn mower is likely to create an absolute $ opportunity of USD 7.8 Billion by reaching a market valuation of USD 15.6 Billion in 2032.
Rising Technological Innovations In The Electric Lawn Mower Industry Over The Forecast
Demand for electric lawn mowers - subdued in the past due to low battery life and inappropriate mowing capacity - has been gaining ground at a quick pace. Lawn mower manufacturers have been quick to assess end-user demand, and the market has witnessed the launch of several electric variants that can rival gasoline-based variants for longevity and precision. However, the report finds that the high price of electric lawn mowers continues to be a deterrent.
Sensing the needs of end-users, manufacturers have launched electric lawn mowers across a range of power capacities. 500-1800W electric lawn mowers continue to be the highest-selling variant, with ‘up to 500W’ also emerging as a lucrative segment. The report projects ‘up to 500W’ electric lawn mowers to grow at a slightly higher rate vis-à-vis 500-1800W variants, however, the latter will reign supreme - both in terms of volume and value throughout the assessment period.
Global Electric Lawn Mower Market Segments
· By Product Type :
a) Standard Ride-on
c) Lawn Mowers
d) Garden Mowers
· By Mower Blade Type :
- Cylinder Blades
- Mulching Blades
- Standard Blades
- Lifting Blades
· By Cord Type :
Which segment has the largest share in the Electric Lawn Mower Industry?
Demand for electric lawn mowers is expected to witness lucrative revenue-generating opportunities due to the present trend of innovative landscaping practices.
Growing gardening services and landscaping practices, majorly in commercial areas increased the growth rate for garden equipment over the past half-decade. A similar trend is anticipated to be noticed during the assessment period of 2022-2032. Continuous innovations in electric lawn mowers and eco-friendliness of lawn mowers act as major drivers for this market. This segment is projected to cover a share around ~41.4% market valuation for electric lawn mowers by 2022 and is forecast to surpass the market value of USD 13.3 Billion by 2032 end.
Competitive Landscape: Top Companies in Electric Lawn Mower Market
The global electric lawn mower market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations, and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced electric lawn mower.
Key Companies Operating in the Electric Lawn Mower Market
· Robert Bosch GmbH
· The Toro Company
· Deere & CO.
· Black & Decker
· GreenWorks Tools
Report Benefits & Key Questions Answered
· Electric Lawn Mower Company & brand share analysis: The report offers a brand-share analysis of the electric lawn mower market to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
· Electric Lawn Mower Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers a comparative analysis of the growth trajectory exhibited in 2016-2020 and 2021-2031.
· Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
· Electric Lawn Mower Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
· Electric Lawn Mower Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
Electric Lawn Mower Market Report: https://www.factmr.com/report/811/electric-lawn-mo
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This is a news release distributed by Korea Newswire on behalf of this company.