A key factor driving the growth of the market is product innovation and product line extension leading to product premiumization. Manufacturers have been concentrating on using price as a differentiating factor to launch premium versions of their existing product lines. The demand for premium products has been increasing due to the improving economic conditions around the globe and willingness among consumers to spend more.
This market research report on the global power lawn mower market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing number of smart cities and urbanization as one of the key emerging trends in the global power lawn mower market:
Global power lawn mower market: Growing number of smart cities and urbanization
The adoption of power lawn mowers for landscaping has been rising because of the growing number of smart cities and an increase in urbanization in different countries. Several robotic lawn movers that are available in the market can be connected via a mobile application and can be used through smartphones.
“Governments of several countries are concentrating on building smart cities. They are increasing their investments in technology, environmental sustainability, infrastructure development, fast internet connectivity, transportation, and governmental entities. The smart cities have access to public Wi-Fi and have strong internet connectivity,” says a senior market research analyst at Technavio.
Global power lawn mower market: Segmentation analysis
This market research report segments the global power lawn mower market by products (cordless and corded), end-users (commercial and residential), and geographical regions (APAC, EMEA, and the Americas).
The cordless segment held the largest market share in 2017, accounting for nearly 91% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with approximately 53% of the market share, followed by EMEA and APAC respectively. The Americas is anticipated to project steady growth during the period 2018-2022.
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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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