LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global electric lawn mower market is expected to reach USD 1603.14 million by 2021.
The research study covers the present scenario and growth prospects of the global electric lawn mower market 2017-2021. The report further segments the market based on product placement (floor models and countertop), and geography (the Americas, APAC, and EMEA).
The global electric lawn mower market is expected to increase during the forecast period due to various driving forces such as the increasing adoption of eco-friendly outdoor equipment around the world and growing landscaping and gardening activities. Countries such as Germany, the US, the UK, Australia, India, and Japan are gradually adopting the concept of building green roofs. Building green roofs will help in countering the grave issue of global warming and improve the quality of air. Such initiatives will drive the sales of new units of electric lawn mowers.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global electric lawn mower market:
- Low cost of mowing with electric lawn mowers
- Increasing popularity of green roofs
- Increasing landscaping activities
Low cost of mowing with electric lawn mowers
Gas-powered push-type lawn mowers have got a tank capacity of 2-3 gallons, by which it can mow almost half an acre of a lawn. At a price of USD 3.50 per gallon, a single mowing using such a mower costs USD 2.35. This translates into a cost of USD 4.70 for mowing an acre. On the other hand, push-type electric lawn mowers can mow one-third of an acre by a single charge. At an electricity rate of USD 0.11 per kW hour, a single recharge of the mower costs USD 0.38. This translates into a cost of USD 1.04 for mowing an acre.
According to Poonam Saini, a lead retail goods and services research analyst from Technavio, “An electric lawn mower, in comparison to a gas lawn mower, is cheaper by USD 3.66 per acre, and the magnitude of the cost difference increases with an increase in the size of the lawn. The difference in cost is encouraging the end-users to shift from gas lawn mowers to electric lawn mowers. This will drive the sales of electric lawn mowers during the forecast period.”
Increasing popularity of green roofs
Industrialization is one of the key aspects contributing to economic growth. The growing industrialization has given birth to various environmental problems among which global warming falls to be the most prominent one. Factors such as population growth, industrialization, and growing number of vehicle usage have increased the occurrence of global warming. Green roofs have been introduced as an efficient solution to this problem. It involves covering the roofs of newly constructed buildings with vegetation and various small and medium sized plants.
“Countries like the US and Germany have started adopting this new concept of building green roofs to counter issues faced from global warming. Green roofs help in reducing storm water wastage and improve air quality. An increase in the acceptance of the concept in various countries will directly influence the sales of lawn and garden tools such as electric lawn mowers,” adds Poonam.
Increasing landscaping activities
The demand for increasing the aesthetic appeal of residential and commercial properties has driven the popularity of landscaping around the world. People in various developed countries such as the US, UK, Germany, and France are looking to spend more on various landscaping and gardening activities. In the year 2016, more than 17% of the people in the US spent around USD 500 in landscaping activities, and more than 12% of the people spent close to USD 1,000 on landscaping activities.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Deere and Company
- Husqvarna
- RYOBI
- The Toro Company
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