CHICAGO, Feb. 26, 2019 /PRNewswire/ -- According to the new market research report "Robotic Lawn Mower Market by End User (Residential, Commercial), Lawn Size (small-sized, medium-sized, large-sized), Connectivity Type (With Connectivity, Without Connectivity), Distribution Channel, and Region- Global Forecast to 2025", published by MarketsandMarkets, the Robotic Lawn Mower Market is estimated to be USD 533 million in 2018 and is projected to reach USD 1,261 million by 2025, at a CAGR of 13.10%. Increase in labor cost, safety concerns over traditional lawn mowers, and the need for noise-free operation are some of the major factors that will drive the Robotic Lawn Mower Market.
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Residential segment is estimated to be the largest Robotic Lawn Mower Market during the forecast period
It has been observed that maintaining the lawn with a conventional lawn mower in the residential spaces is tedious and time consuming. Hence, people prefer robotic lawn mowers because of benefits like low maintenance cost, noise-free operation, high accuracy and precision, and minimum human intervention. Moreover, the number of people with individual bungalows is increasing, especially in developed countries. Taking care of the lawn is one of the major tasks in individual bungalows, which is a key driving factor for the increase in demand for in robotic lawn mowers in residential spaces.
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Large-sized robotic lawn mower is estimated to be the fastest growing segment
Large-sized robotic lawn mowers are considered for lawn areas of above 1,500 m2. The most preferred locations for such lawn mowers are golf courses, soccer fields, parks, and commercial spaces. The large-sized robotic lawn mower is expected to be the fastest growing segment as they are mostly used in the commercial sector, which is at a nascent stage as far as the Robotic Lawn Mower Market is concerned. However, the segment is expected to grow at the highest rate because of its higher level of penetration in the near future.
Higher labor cost, limited landscaping service professionals, advancements in the lawn care industry, and presence of key players would drive the European Robotic Lawn Mower Market
Residents in Europe have traditionally spent a lot of time in creating and maintaining lawns, but things are starting to change as a younger, urban population starts to increase and flat dwelling becomes a standard practice. Those who do choose to keep a lawn and garden, are typically are a little bit older and rely on landscaping service of professionals which are very limited in Europe. Hence, the demand for robotic lawn mowers is expected to grow further in Europe.
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The Robotic Lawn Mower Market is consolidated and dominated by a few global players. The key players in the market are Husqvarna Group (Sweden), Deere and Company (US), Robert Bosch (Germany), Honda Motor Company (Japan), STIHL Holding and Co. Kg (Germany), Yamabiko Corporation (Japan), LG Electronics (South Korea), The Toro Company (US), Stiga SPA (Italy), The Kobi Company (US), Al-Ko Gardentech (Germany), Zucchetti Centro Sistemi (Italy), The Worx Company (US), MTD (US), Milagrow Business, and Knowledge System (India)
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