Research Nester has released its report titled “Global Electric Lawn Mower Market: Global Demand Analysis & Opportunity Outlook 2020-2028” that delivers detailed overview of the global electric lawn mowers market in terms of market segmentation by product, type, application, blade type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global electric lawn mower market comprises of four segments which are segmented by product, type, application and by blade type. The market is estimated to grow at a significant CAGR over the forecast period (2020-2028). The corded lawn mower forming part of type segment is estimated to hold the largest market share over the forecast period, owing to lower costs of the electric mowers that are comparatively affordable when compared with a gasoline powered lawn mower, even though the problem of wires that accompany the equipment can create problems for the users during the period of mowing.
The growth of the market is driven by various factors such as increasing number of individuals who are becoming conscious about the environment and its adverse effects on human-beings. Several countries have brought in various rules and regulations for the purpose of controlling and regulating the carbon emissions that are being released by manufacturers across various regions of the world. These factors are estimated to drive the demand for electric lawn mowers and is anticipated to drive the growth of the market over the forecast period.
The global electric lawn mower market is segmented into five major regions comprising of North America, Latin America, Europe, Asia Pacific and Middle East & Africa. The market in North America is anticipated to hold the highest market share, owing to increasing awareness about the ill-effects of environment among the population in the region and various efforts being initiated by the governments to control the emission levels in the region. The market in Europe is estimated to grow steadily, owing to growing adoption of automation and technological advancements happening in the region. These factors are estimated to drive the growth of the market over the forecast period.
However, the growth of the global electric lawn mower market is hindered by various factors such as electric lawn mowers being expensive for the majority of the population who do not have the purchasing power. Moreover, in some cases, mowing the yard in some cases on a single battery charge may become difficult and a backup battery may be required that is costly or the user may have to wait for an hour at least to allow the lawn mower to charge completely which could cause annoyance to the user. These factors are anticipated to operate as major restraints to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global electric lawn mower market which includes company profiling of key companies such as Deere and Company (NYSE: DE), Husqvarna AB, Ryobi Limited (TYO: 5851), The Toro Company (NYSE: TTC), Briggs & Stratton Corporation (NYSE: BGG), Robert Bosch GmbH, Andreas STIHL Limited, MTD Products, Inc., Honda Motor Company Limited (NYSE: HMC) and Makita Corporation (TYO: 6586). The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global electric lawn mower market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.