LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global lawn mower batteries market to grow to USD 220 million by 2021, at a CAGR of close to 5% over the forecast period, according to their latest report.
The research study by Technavio on the global lawn mower batteries market for 2017-2021 provides a detailed industry analysis based on the battery type (lead-acid batteries and Li-ion batteries) and geography (the Americas, EMEA, and APAC).
|Batteries refer to the technologies that are used to store energy, which can be used during power shortages, blackouts, or when the demand for the power supply is high. Currently, lead acid batteries occupy the majority market shares. However, lithium-ion batteries are expected to swiftly increase their market foothold and establish dominance by the end of the forecast period.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global lawn mower batteries market:
- Adoption of green roofs
- Increase in landscaping services
- Environmental impact of gas lawn mowers
Adoption of green roofs
The adoption of green roofs provides several benefits such as the ability to filter airborne pollutants, reduce CO₂ emissions, and reduce energy consumption. Green roof adoption offers an efficient solution to emissions and pollution and is rapidly picking up in most of the developed countries across the globe.
“Rapid economic growth worldwide has led to industrialization and has created the need to create green spaces in urban spaces. Green roofs have emerged as a popular solution, creating a demand for lawn mowers and related accessories to keep these rooftop gardens in shape,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage research.
Increase in landscaping services
The increasing popularity of aesthetically appealing residential and commercial properties with plenty of green spaces, patios, and yards has generated a high demand for landscaping of lawns and gardens. Rising disposable income due to the emergence of double income households is another factor driving the demand for landscaping services. In addition to providing aesthetic appeal, landscaping also increases the market value of the property. The demand for the repair of different types of landscapes like lawns, trees, hedges, and gardens, triggering the demand for lawn mowers batteries as electric lawn mowers are most widely acceptable lawn mowers.
Environmental impact of gas lawn mowers
Gas-powered lawn mowers account for a major share in the global lawn mower market. However, gas-powered lawn mowers pose a major threat to the environment, as they are one of the reasons for the rapidly increasing environmental pollution. Analysts estimate that around 16 to 17 million gallons of fuel are wasted while fueling gas-powered lawn mowers.
“The rising adoption of battery-powered lawn mowers to reduce the adverse environmental impact will drive the demand for lawn mower batteries,” says Thanikachalam.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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