NEWARK, DE / ACCESSWIRE / August 10, 2022 / According to the Future Market Insights (FMI) analysis, the global robotic lawn mower market is projected to present lucrative growth opportunities with an opulent CAGR of over 11.5% between 2021 and 2031. The growth factors helping in the expansion of the robotics lawn mower market size consist of increasing construction of public gardens, commercial buildings, and landscaping services.
The global market exhibited a robust CAGR of over 10.0% between 2016 and 2020. Despite the challenging times amidst the Covid-19 outbreak, an estimated projection of 4.0% is anticipated with year-on-year growth between 2021 and 2031.
A consistent surge in the robotic lawn mower market is expected with an opulent CAGR of over 11.5% and is projected to reach a market valuation of US$ 737 Mn in 2021. Growing demand for ecologically sound technology and the shift of consumers towards elevating their backyard lawns have led to reasonable growth in the robotic lawn mower market.
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Key Takeaways
- Lack of competent labor, massive investment in research on Artificial Intelligence, and efficient properties of robotic lawn mowers are expected to bolster sales of robotic lawn mowers throughout the forecast period of 2021-2031.
- Surging investments in research on Artificial Intelligence and properties of robotic lawn mowers, and support from the government through favorable policies are creating prospects for robotic lawn mower sales growth.
- The leading players in the robotic lawn mower market are focusing on mergers & acquisitions, and partnerships to strengthen their position in the market, further enhancing their product portfolio.
- The rising inclination toward landscaping services and the unavailability of competent labor in the market compelled manufacturers to undertake the route collaboration. These collaborations will further aid in producing zero-emission autonomous mowing machines, resulting in higher sales of the robotic lawn mower market.
- The boom in the residential sector is anticipated to deploy robotic lawn mowers and aid in generating nearly 60% of total returns to shareholders. Owing to the expansion of activities including landscaping, backyard beautification, and cookouts, garden parties, along with the need to save time on lawn maintenance activities, are driving the adoption of robotic lawn mowers in this end-use sector.
- The commercial sector, in the recent past, has been staunchly inclining towards automation to achieve operational efficiency. Robotic lawn mower market players are tapping into this opportunity to uncover new revenue lines.
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Competitive Landscape
Husqvarna AB, MTD Products, STIGA S.p.A., KYODO CO., LTD., Robert Bosch GmbH, Deere & Company, NINGBO NGP INDUSTRY CO., LTD., and Honda are some of the key companies profiled in the full version of the report.
These leading key players in the market account for a total of 55% global market share. Approximately 60% of the total return would be generated by the residential sector owing to the increased expenditure on the beautification of backyards and lawns and gardens. The commercial sector, in the recent past, has been staunchly inclining towards automation in order to achieve operational efficiency. Robotic lawn mower market players are tapping into this opportunity to uncover new revenue lines.
More Insights into the Robotic Lawn Mower Market
North America and Europe will continue to create maximum traction for stakeholders in the robotic lawn mower market over the projection period. These regions have been a testing ground for robotic technology over the past couple of decades and continue to account for nearly ¾ of total market revenue, collectively.
FMI analysis further reveals that the most worthwhile value-capturing prospects are presented by the U.S. market. While these developed regions are showing substantial growth opportunities, market players are also turning to Southeast Asia & Pacific for a sustained market foothold.
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Owing to the technological advancements, Market incumbents are developing robotic lawn mowers equipped with GPS technology, which allows the mowers to operate within virtual boundaries. These GPS-enabled robotic lawn mowers come with enhanced flexibility and applicability in green spaces.
Since virtual boundaries can be adjusted to cater to the ever-changing needs of commercial and residential areas. GPS technology overcomes the challenges of existing robotic lawn mowers, such as working on hard surfaces and scarifying and aerating the lawn.
By the end of the forecast period, manufacturers are predicted to reap approximately US$ 1 Bn via offline sales channels. As customers are becoming more demanding and discerning, shareholders are stepping into the e-Commerce ecosystem to deliver a seamless purchasing experience.
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Robotic Lawn Mower Market Taxonomy
The global robotic lawn mower market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Working Area
- Small Area (up to 0.4 acre)
- Medium Area (0.4-0.8 acre)
- Large Area (above 0.8 acre)
End Use
- Residential
- Commercial
Sales Channel
- Offline
- Online
Region
- North America
- Latin America and the Middle East & Africa (LAMEA)
- Europe
- South East Asia & Pacific
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
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