According to a new market research report published by Credence Research, the global market for robotic lawn mowers is expected to reach US$ 3.76 billion in 2026 and will grow at CAGR by 17.5 per cent during the forecast period from 2018 to 2026.
Market Insights
The market for robotic lawn mowers is expected to reach US$ 3.76 billion in 2026, growing at a compounded annual growth rate (CAGR) of 17.5 per cent between 2018 and 2026. Growing urbanization has led to a surge in landscaping and land maintenance services. As a result of the increasing number of population shifts to urban cities, developing regions such as Asia Pacific, Middle East & Africa and Latin America have witnessed an increase in lawn maintenance services. This has had a positive impact on the demand for robotic lawn mowers.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/robotic-lawn-mowers-market
Moreover, the commercial sector, in recent years, has witnessed rising dependency on automation in order to reduce the operation cost in the long run. The residential sector has been no exception either, and has witnessed a high adoption of domestic robots for carrying out various household activities such as lawn mowing and cleaning. Moreover, a growing aging population is another important factor complimenting the robotic lawn mowers market growth. In order to address the market competition and create growth opportunities for themselves, robotic lawn mower manufacturers are focusing on introducing new products with enhanced functionalities. Technological advancements have enabled manufacturers to add new functionalities to robotic lawn mowers.
However, increased adoption of artificial grass is one of the most important factor restraining the growth of robotic lawn mowers. In addition, high cost of robotic lawn mowers might offset its demand during the forecast period.
In terms of geography, Europe represented the largest market for robotic lawn mowers in 2017. The region has witnessed a rise in the popularity of robotic lawn mowers in recent years. Declining per unit price of mowers is another prominent factor arising market growth in the region. Asia Pacific expected to emerge as the most lucrative market for robotic lawn mowers in coming years. As a result of improving quality of life, countries in the region such as Thailand, India, Indonesia and Vietnam among others are expected to witness increased adoption of robotic lawn mowers. Some of the important markets for robotic lawn mowers in Asia Pacific region includes South Korea, China, Australia, New Zealand and Japan among others.
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/59501
Some of the major players operating in the robotic lawn mowers market include Robert Bosch GmbH, DEERE & COMPANY, Honda Motor Company, Ltd., Hitachi, Ltd., Zucchetti Centro Sistemi S.p.a., Husqvarna Group, LG Electronics, Inc., Stiga S.p.A., MTD Products, The Kobi Company, E. ZICOM, Milagrow HumanTech, Linea Tielle and Global Garden Products among others.
Report Scope by Segments
By Range Type
- Low-Range Robotic Lawn Mower
- Medium-Range Robotic Lawn Mower
- High-Range Robotic Lawn Mower
By End User Type
- Residential
- Commercial
By Sales Channel Type
- Direct Retail
- Online Retail
By Geography Segment Type
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India,Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)
Find more research reports on Technology & Media Industry, by Credence Research
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