Robotic Lawn Mower Market Size to Surpass $4.04 Billion by 2028 | Exhibiting a CAGR of 15.5%
According to Fortune Business Insights, the global Robotic Lawn Mower Market size is projected to grow from USD 1.29 billion in 2020 to USD 4.04 billion in 2028 at CAGR of 15.5% during forecast period.
Pune, India, Oct. 31, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Robotic Lawn Mower Market size was valued at *USD 1.29 billion* in 2020. The market is anticipated to grow from *USD 1.48 billion* in 2021 to *USD 4.04 billion* by 2028, exhibiting a *CAGR of 15.5%* over the estimated period. The Robotic Lawn Mower Market is currently witnessing substantial growth, driven by a convergence of factors that reflect the evolving dynamics of lawn care and technology. Robotic lawn mowers offer an unprecedented level of convenience, allowing users to delegate the time-consuming task of lawn mowing to an autonomous device. Fortune Business Insights™ provides this information in its research report, titled “Robotic Lawn Mower Market, Forecast 2021-2028”.
*Robotic Lawn Mower Industry Development:*
*April 2021: *Robin Autopilot, the U.S.-based developer and manufacturer of robotic mower technology, has finalized the acquisition of Mowbot.
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*Robotic Lawn Mower Market Report Scope & Segmentation:*
*Report Coverage* *Details*
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 15.5%
2028 Value Projection 4.04 billion
Base Year 2020
Robotic Lawn Mower Market Size in 2020 1.29 billion
Historical Data for 2017-2019
No. of Pages 150
Segments covered Battery Capacity, Application, Sales Channel, and Region
*Robotic Lawn Mower Market Drivers and Restraints:*
*Interest of Customers towards Smart Technology Gardening Equipment to Spur Growth*
The surging demand from customers in using organic products in gardening and subsequent prominence on the usage of smart tools to endorse smart gardening operations may validate the sales of robotic lawn mower. Moreover, strong performance of the vital players in the established nations within North America and Europe offers an apparent growth and spurring prospects of automated products sales, owing to ever rising variety of target customer base in the market.
*COVID-19 Impact:*
*COVID-19 to Hinder Growth owing to Indefinite State in Construction and Real Estate Sector*
COVID-19 had an adverse impact on the financial activities and triggered issues for the manufacturing sector during the first quarter after the pandemic. The supply-side situation is expected to perceive a prominent decline, owing to the shutdown of production divisions and various permissions on cross-border trade of non-fundamental products.
However, the prolonged staying at home guideline motivated a huge number of customers to undertake home gardening that has aided to amplify the sales of smart gardening equipment.
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*Report Coverage:*
· It assimilates key market drivers and restraints.
· It profiles the rankings of key market players accordingly.
· It includes key market developments and information on different market segments.
· It provides a comprehensive market assessment.
· It assesses the COVID-19 pandemic’s impact on the market.
*Robotic Lawn Mower Market **Segmentation Analysis:*
*Residential Segment to Dominate Backed by Rising Interest of Customers in Gardening*
By battery capacity, the market is segmented into up to 20V, 20V to 30V, and more than 30V.
Based on application, the global market is categorized into residential and commercial. The residential segment is expected to have a commendable share in the global market, owing to the rising interest of domestic customers in gardening and landscape maintenance.
On the basis of sales channel, the global market is branched into retail stores/offline and online websites.
Region wise, the market is divided into North America, Europe, South America, the Middle East & Africa, and Asia Pacific.
*Robotic Lawn Mower Market Regional Insights:*
*Europe to Hold Largest Market due to Rising Use of Professional Mowers*
Europe is expected to register a notable robotic lawn mower market share and is estimated to progress at a significant speed in the global market during the mentioned time frame. This is due to the rise in utilization of professional lawn mowers in this region.
The rising demand for professional lawn mowers implanted with intelligent features, such as smart connectivity, weather radars, and GPS-based navigation, is driving the market growth across North America.
In South America, the huge amount of supply-demand disproportion and the indeterminate demand for lawn maintenance in commercial spaces and residential infrastructure are expected to hamper the advancement prospects in the market of South America.
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*Robotic Lawn Mower Market Competitive Landscape:*
*Procurement Commenced by Vital Companies to Endorse Market Growth*
The dominating players in the market incessantly root for functional tactics to bolster their brand value as well as endorse the global market growth of robotic lawn mower. One such effective tactic is acquiring competitive companies and further securing a profit for both the companies.
* **A List of Robotic Lawn Mower Manufacturers Operating in the Global Market:*
· Husqvarna Group (Stockholm, Sweden)
· Robert Bosch GmbH (Gerlingen, Germany)
· Deere & Company (Illinois, U.S.)
· STIGA S.p.A. (Veneto, Italy)
· HONDA MOTOR CO., LTD. (Tokyo, Japan)
· Hitachi, Ltd. (Tokyo, Japan)
· LawnMaster (South Carolina, U.S.)
· The Toro Co. (Minnesota, U.S.)
· GLOBGRO AB (Skåne, Sweden)
· ANDREAS STIHL AG & Co. KG (Waiblingen, Germany)
· Robin Autopilot (Texas, U.S.)
· Robomow Friendly House (Jerusalem, Israel)
· WOLF-Garten company (Saarbrücken-Bübingen., Germany)
· Cub Cadet (Ohio, U.S.)
· Positec Germany GmbH (Nordrhein-Westfalen, Germany)
· AL-KO (Großkötz, Germany)
· WIPER S.R.L. (Treviso, Italy)
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*Table of Content:*· *Introduction*
· *Definition, By Segment*
· *Research Methodology/Approach*
· *Data Sources *
· *Executive Summary*
· *Market Dynamics*
· *Macro and Micro Economic Indicators*
· *Drivers, Restraints, Opportunities and Trends*
· *Impact of COVID-19*
· Short-term Impact
· Long-term Impact
· *Competition Landscape*
· *Business Strategies Adopted by Key Players*
· *Consolidated SWOT Analysis of Key Players*
· *Global Robotic Lawn Mowers Key Players Market Share Insights and Analysis, 2020*
· *Global Robotic Lawn Mowers Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028*
· *Key Findings*
· *By Capacity (USD)*
· Upto 20 V
· 20 V to 30 V
· More than 30 V
· *By Application (USD)*
· Residential
· Commercial* *
· *By Sales Channel (USD)*
· Retail store / Offline
· Online Websites
· *By Region (USD)*
· North America
· South America
· Europe
· Middle East & Africa
· Asia Pacific
*Continued….*
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