NEW YORK, Nov. 22, 2023 /PRNewswire/ -- The robotic lawn mower market size is expected to grow by USD 1.06 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 15.73% during the forecast period. The market is segmented by end-user (residential and commercial), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The increasing demand from the commercial segment drives the market growth. Robotic lawnmowers have emerged as an optimal solution for lawn mowing in the residential sector. The main advantage of robotic lawnmowers have adjustable shock absorber components to adjust according to the incline and on uneven garden areas. Hence, such factors drive the market growth.
The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the robotic lawn mower market: AL KO SE, ANDREAS STIHL AG and Co. KG, Echo Inc., Globgro AB, Hangzhou Favor Robot Tech Co. Ltd., Honda Motor Co. Ltd, Husqvarna AB, Irobot Corp., LG Electronics Inc., LINEA TIELLE srl, Mamibot Manufacturing USA Inc., Mowbot, MTD Products Inc., Ningbo Ngp Industry Co., Robert Bosch GmbH, STIGA Spa, The Kobi Co., The Toro Co., YAMABIKO Corp., and Zucchetti Centro Sistemi Spa
- Robotic Lawn Mower Market is fragmented in nature.
- Market to observe 13.52% YOY growth in 2023.
Market Dynamics:
Trend
- The development of smart cities is an emerging trend driving the robotic lawn mower market growth.
- Several governments across the world are encouraging technologies such as connected devices, IoT, Big data, analytics, artificial intelligence (AI), and robots to fulfill smart city initiatives.
- In addition, smart cities will fuel the demand for robotic lawnmowers, as the need for effective gardening equipment will increase with infrastructural development.
- Hence, such factors drive the market growth.
Challenges in bulets.
- The availability of alternatives may hinder the robotic lawn mower market growth.
- One of the significant challenges to the market is the availability of conventional lawn mowing equipment.
- In addition, several companies that provide robotic lawnmowers also provide conventional gardening equipment.
- Hence, such factors hinder the market growth during the forecast period.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Key Segments:
- The market share growth by the residential segment is significant during the forecast period. The residential segment includes robotic lawnmowers used by homeowners. In addition, there is an increasing preference for grass lawns by various residential users to cemented exteriors and bare soil, as they provide better aesthetics and finish to the exterior of homes and ensure the circulation of fresh air in the surroundings. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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Related Reports:
The electric lawn mower market size is estimated to grow at a CAGR of 8.48% between 2022 and 2027. The size of the market is forecast to increase by USD 2,609.23 million.
The lawn mowers market size is estimated to grow at a CAGR of 7.03% between 2022 and 2027. The market size is forecast to increase by USD 9,797.43 million.
Robotic Lawn Mower Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.73% |
Market growth 2023-2027 |
USD 1.06 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
13.52 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 52% |
Key countries |
US, China, Sweden, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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Email: [email protected]
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SOURCE Technavio
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