Robotic Lawn Mower Market size to increase by USD 1.06 billion from 2022 to 2027, Increasing demand from the commercial segment boosts the market growth – Technavio

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.

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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 SpaRobotic 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.

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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.

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.

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SOURCE Technavio