Electric Lawn Mower Market To Reach USD 17.9 Billion By 2032 - DataHorizzon Research
The growing popularity of the electric lawn mower market spearheads market development.
Fort Collins, Colorado, March 04, 2024 (GLOBE NEWSWIRE) -- *The Electric Lawn Mower Market was valued at USD 10.7 Billion in 2023 and is anticipated to grow CAGR at 5.9% to reach USD 17.9 Billion by 2032. *
*Electric lawn mowers* have witnessed an upward trend with growing demand for at residential places and grounds due to the growing trend of sports like football and lawn tennis globally. According to the Love Your Landscape Organization, 79% of Americans have expressed that a lawn is essential for buying or renting a property. They prefer having a lawn as it helps them host house parties, and perform other leisure activities. Also, the greenery makes people feel relaxed, brings positivity, and makes the place feel cooler. On the other hand, in European countries, many residents have expressed that lawns are considered a status symbol and work consistently to keep them clean and well-maintained.
Another factor contributing to the growing demand for this market is the increasing demand for home landscaping. According to the Home Guide, an average homeowner in the United States spends around USD 100 - USD 200 monthly for maintaining the landscapes, gardening, and lawn keeping. This trend has been growing, especially since the pandemic, as people, especially millennial, have expressed interest in attending or hosting house parties rather than going to restaurants or clubs, contributing to the demand for well-kept lawns and lawn mowers. Also, as people prefer spending more time at home and staying in nature or resorts in nature and amidst greenery, the demand for mowers at these properties is growing.
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*Segmentation Overview:*
The global *electric lawn mower market* has been segmented into* product type, cord type, end-user, and region.* Based on product type, the electric lawn mower market is segmented as walk behind, front and wide area, and stand-on. Walk behind electric lawn mowers hold a significant share of product type segment. Based on the end-user, the electric lawn mower market is segmented into residential and commercial. Residential use holds a significant share of the end-user segment of the electric lawn mower market.
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*Electric Lawn Mower Market Report Highlights:*
· The global electric lawn mower market growth is anticipated at a* CAGR of 5.9% by 2032.*
· Due to its popularity and convenience, the electric lawn mower market demand is projected to grow significantly in the upcoming years.
· North America holds a significant share of the electric lawn mower market, with the United States holding a substantial share in this region. · The prominent players in the electric lawn mower market report include Robert Bosch GmbH, Deere & Company, Honda Motor Co. Ltd., The Toro Company, Husqvarna Motorcycles GmbH, MTD Products, Cub Cadet, D&D Motor Systems Inc., STIGA, and RYOBI Tools.
*Industry Trends and Insights:*
- The Southwest Ohio Air Quality Agency’s MowGreener Exchange Program has recently offered a $100 Visa Gift card on their new purchase of a battery-powered lawn mower on a first come, first serve basis. This has sparked a huge interest in many residents and prefer battery packs as they are versatile and need less maintenance than traditional models.
- In 2023, Solis Tractors divulged new series of agricultural tractors and lawn mowers and promise to deliver cutting-edge technology, and high productivity for farming communities by emphasizing sustainability.
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*Electric Lawn Mower Market Segmentation:*
*By Product Type: *Walk behind Electric Lawn Mower, Front and Wide Area Electric Lawn Mower, and Stand-on Electric Lawn Mower.
*By Cord Type: *Corded and Cordless.
*By End-user: *Residential, Commercial.
*By Region:* North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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