DUBLIN--(BUSINESS WIRE)--The "Robotic Lawn Mower Market by Range, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
'Robotic Lawn Mower Market by Range, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,' the global robotic lawn mower market size was valued at $538 million in 2017 and is projected to reach $1,437 million by 2025, registering a CAGR of 12.9% from 2018 to 2025.
In 2017, the residential user segment accrued the largest share in the robotic lawn mower market. Growth in this segment is supplemented by convenience that robotic lawn mower market has over the traditional manual lawn mower.
The disposable income throughout the world has increased especially in emerging nations such as China and India. China's per capita income increased by 9% in 2017 as compared to 2016. Whereas, India's disposable personal income increased approximately by 9.4% in 2017 as compared to 2016. Therefore, this has increased the buying power of people and enabled people to use more products, which in turn is expected to drive the growth of the global robotic lawn mower market size. Moreover, busy lifestyles due to globalization and longer working hours tend to affect the leisure time and household work. Hence, this has encouraged people to find alternative ways to spare more leisure time by reducing or completely eliminating the time required to do household work, which in turn boosts the demand for household automation for daily chores such as cleaning, lawn mowing, and many more. Thus, increasing the demand for robotic lawn mower market globally.
Smartphone penetration throughout the world has increased drastically over the years. According to 2018, (IMF) International Monetary Funds Working Paper, the smartphone is among the highest in the world. The increase in mobile phone penetration has increased the demand for complementary as well as compatible products. Increasing number of smartphones and other mobile devices have led to the development of robotic lawn mower and has aided the adoption and growth of robotic lawn mowers.
The global robotic lawn mower market is classified based on distribution channel into retail, and online. The retail segment dominated the robotic lawn mower market with the largest share in 2017 and is expected to exhibit significant growth during the forecast period. Retail stores of land mowers sell products from small price range to premium range of products. This store provides a wide range of brands to the customer to choose for different applications. It also provides services such as repair to the land mower products. Companies such as SGP Garden Machinery Ltd., STIHL, and McCulloch International are some of the manufacturers that distribute and sells their product through the various retail store.
The specialty store maintains considerable depth in a type of products, which are available at a premium price. In addition, this store provides higher service quality and expert guidance to choose products for a wide range of applications.
Specialty-outdoor equipment is a distributor of STIHL robotic land mowers that offer specialty service. These are the factors that fuel the growth in retail segment of the global robotic lawn mower industry during the forecast period.
Key Findings of the Robotic Lawn Mower Market:
- Based on range, the medium-range robotic lawn mower segment accounted for the highest share to the global robotic lawn mower market in 2017 and is projected to grow at a CAGR of 14.5%.
- Based on end user, the residential segment of the global robotic lawn mower market is expected to grow at the highest CAGR of 12.5% from 2018 to 2025.
- Based on region, Asia-Pacific is projected to grow at a CAGR of 17.7% from 2018 to 2025 due to rise in housing activity, which in turn is expected to stimulate the robotic lawn mower market.
- The North America held the largest share of 36% in the global robotic lawn mower market size in 2017 and is expected to grow at a CAGR of 10.8% from 2018 to 2025.
- China is expected to be the fastest growing segment at a CAGR of 19.8% from 2018 to 2025 owing to rise in construction of new residential properties.
- In terms of value, North America and Europe collectively contributed around 76.2% of the robotic lawn mower market share in the global robotic lawn mower market in 2017.
- The leading players in the global robotic lawn mower industry have focused on product launch and acquisition as their key strategy to gain a significant robotic lawn mower market share.
- The key players profiled in the report include DEERE & COMPANY, Robert Bosch GmbH, Hitachi, Ltd., Honda Motor Company, Ltd., Husqvarna Group, Zucchetti Centro Sistemi S.p.a., Stiga S.p.A, LG Electronics, The Kobi Company, and MTD Products.
For more information about this report visit https://www.researchandmarkets.com/r/xsqglh