Rising dependency on automation in the commercial sector to decrease operating costs and increasing adoption of domestic robots for residential applications are major factors estimated to drive the growth of the robotic lawn mower market during the forecast period.
According to FMI’s recent market study, the robotic lawn mower market is projected to progress at a high CAGR of 11.5% and reach a valuation of US$ 2 Bn by the end of the forecast period (2021-2031).
Key Takeaways of Robotic Lawn Mower Market Study
In terms of segmental analysis, the sales of robotic lawn mowers are expected to remain concentrated in residential end-use; nevertheless, sales in the commercial segment are projected to witness hefty growth over the coming years.
e-Commerce growth across the globe squarely proliferates a robust outlook for manufacturers to sell their robotic lawn mowers through online channels/retail partners such as Amazon, e-bay, Alibaba, The Home Depot, etc.
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Demand in the Europe-based consumer market has grown rapidly in recent years and still shows a substantial growth opportunity, as the robotic lawn mower market in the region is far from saturation.
GPS and Bluetooth-enabled robotic lawnmowers and wireless mobile devices are potential investment options for manufacturers. Multiple voice interaction is also being provided in upcoming connected robotic lawnmowers.
“There is significant potential in the long run as far as robotic lawnmowers are concerned for lawns in commercial areas, sports fields, hotels, and parks. Thus, companies in the market are positioning themselves to enter the professional/commercial market where requirements for technology and reliability are even higher
Robotic Lawn Mower Market: Competitive Landscape
The global robotic lawn mower market is significantly consolidated, with a few players holding a prominent share of nearly 50% in the market space.
Some of the leading players operating in the global robotic lawn mower market are Husqvarna AB, MTD Products, STIGA S.p.A., KYODO CO., LTD., and Robert Bosch GmbH, among others.
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Moreover, to win over market imponderables and shakeouts, manufacturers such as Husqvarna, MTD, and Honda are expanding their geographic reach to South East Asia & Pacific.
Find More Valuable Insights on Robotic Lawn Mower Market
FMI, in its new research report, offers an unbiased analysis of the global robotic lawn mower market, presenting forecast statistics from 2021 to 2031.
The report reveals insights into the robotic lawn mower market and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the robotic lawn mower market value chain.
Readers can also find key trends and market growth scenarios based on working area, end-use, sales channels, and regions such as North America, LAMEA, South East Asia & Pacific, and Europe.
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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