Electric Snow Shovel Market Segmentation By Connection (Corded and Cordless); By End-User (Domestic and Commercial); By Engine (Amp≤7, 7＜Amp≤12 and Amp＞12); and By Distribution Channel (Online and Offline) – Global Demand Analysis & Opportunity Outlook 2028
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
An electric snow shovel is a single-stage snow blower, which is less powerful than a two-stage snow blower. It is a machine that can be powered up by either electricity or batteries to provide power to a turning auger that helps to push snow out of the way. An electric snow shovel isn’t too heavy and is quite compact, and due to its smaller width and lightweight, electric snow shoves works well both for larger driveways as well as for smaller areas such as decks, stairways, sideways, and patios. The machine saves a lot of time and effort and works accordingly as long as the device model is chosen according to the needs, i.e., keeping in mind the area, power, quality, size, or brand.
The global electric snow shovel market is thriving on the back of extensive snow in regions such as Canada, Russia, USA, UK, and others, where the main season is winter. Moreover, the climate is changing and every year there is a higher snowfall received by North American and European countries. Electric snow shovels are extremely useful for people as these small and easy to use machines can get rid of the snow that gets collected on the roads or in front of the houses. As a result, people will be able to recommence their lives and work properly without any restrictions. Moreover, the growing demand for winter essential tools is anticipated to foster the growth of the global electric snow shovel market.
The global electric snow shovel market is anticipated to grow at a significant CAGR during the forecast period, i.e. 2020-2028. In 2020, the market is growing at a stable rate and with the rising adoption of strategies by key players, the market is expected to expand over the projected period. The segment for two-stage snow blowers is presently holding the largest market share in North America and Europe snow blowers market. Electric snow shovels fall under the category of one-stage snow blowers and they are observed to have a prominent demand in North America and Europe over the forecast timeframe. This can be accredited to its low maintenance, mobility, low cost, and simplified handling. CLICK TO DOWNLOAD SAMPLE REPORT
Consumers living in the snowy regions have started to accept the usage of advanced winter essential tools. The confidence to use these products, growing acceptance, and the high purchasing power of people are the primary growth drivers for this market. Consumer confidence and acceptance of advanced tools has been growing steadily. Subsequently, there has been a surge in the housing market which is anticipated to positively impact the growth of global market for electric snow shovels during the forecast period.
Handling and the heavy weight of conventional snow shovels is a common issue faced by consumers living in snowy regions. The conventional shovels are inefficient, they take greater efforts and time to remove small amounts of snow. Rising concerns among the consumers for such issues of handling and inefficiency of the tool are anticipated to raise the demand for products such as electric snow shovel which can save both time and effort and are available at a lower cost. Such factors are anticipated to contribute significantly towards the growth of the global electric snow shovel market in the coming years.
Despite the surge in sales of electric snow shovels during the winter season, the market is restricted on account of them being a seasonal tool. This factor can be estimated to act as a restraint for the growth of the electric snow shovel market.
As the market for electric snow shovel has grown over the years, it has resulted in the establishment of various key players that are promising consumers with the availability of substitutes at a lower and affordable cost. High disintegration of the market, as well as the growing number of substitutes, are some of the factors predicted to act as a barrier to the growth of the electric snow shovel market.
In-depth analysis of the global electric snow shovel market includes the following segments:
On the basis of regional analysis, the electric snow shovel market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market for electric snow shovel is anticipated to hold the largest market share in the North American region. This can be credited to the high disposable income of people in the region and North America is one of the largest snow receiving regions in the world. Rising awareness, higher disposable income and high snowfall are some factors that are projected to expand the market size and result in market growth at a significant CAGR in Europe during the forecast period.
The global electric snow shovel market is further classified on the basis of region as follows:
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