(MENAFN- PR Newswire) DUBLIN, Nov. 24, 2022 /PRNewswire/ -- The 'ride-on mower market - comprehensive study and strategic assessment 2022-2027' report has been added to
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The continuous innovations & the development of new technologies by the vendors are further supporting the ride-on mowers market growth. Remote-controlled mowers, electronic speed control & tight turn technology are recent trends gaining momentum in the ride-on lawn mowers market. The demand for riding mowers remains significantly lower among households due to the higher penetration of small-sized lawns in residential areas. Moreover, ride-on lawn mowers are bulkier, thereby requiring more storage space. However, zero-turn mowers are one of the latest trends in the residential riding mower market. The demand for consumer mowers with power steering, comfortable seat & power lift is significantly gaining momentum in the global market. However, several factors such as high upfront cost & long replacement cycles are restraining the growth of ride-on mowers in the market.During COVID-19, the supply chain constraints significantly impacted the ride-on mowers market. Stringent government regulations and policies from the local and national governments restricted the movement of supplies, activities at production facilities, and logistics of finished goods from manufacturers to consumers, thereby hampering the market growth.
Key Insights
The standard ride-on mower market is expected to add a revenue of $2.1 billion by 2027. The revenue from battery-powered ride-on mowers is expected to reach $3.5 billion by 2027 due to the increasing demand for environment-friendly products that helps in minimizing carbon emissions. The application of ride-on lawn mowers is expected to gain momentum in golf courses & other sports arenas due to their continued expansion & the development of new golf courses, thereby adding revenue of $1.6 billion from the segment by 2027.
Recent Developments
In March 2021, Cub Cadet launched the electric zero turn mower Ultima ZT1 42E and electric lawn tractor XT1 Enduro LT42E. These mowers offer two acres of cut time on a single charge and come with USB port charging. In 2021, EGO launched Power+ 52 Z6 Zero Turn Riding Mower, which offers a long battery life, a more expansive deck, and can mow an area up to 4 acres on a single charge. In December 2021, Stanley Black & Decker also acquired Excel Industries to expand into the turf equipment category, thereby offering Stanley Black & Decker access to other excel industries brands, including BigDog and Hustler Turf Equipment. In January 2022, The Toro Company, an outdoor environment solution provider, acquired Intimidator Group, a manufacturer of Spartan Mowers, a product line of zero-turn mowers, to expand into the fast-growing product line of zero-turn lawn mowers.
Key Driving Factors:
Increasing Penetration of Recreational Facilities
The value of green spaces is growing worldwide as many health and environmental benefits are linked with access to greenery. Recreational facilities such as parks, playgrounds, and others help strengthen the citizens' healthy and vibrant community. Moreover, it also helps in attracting home buyers & increases the value of the property close to the open space. Various countries' governments are investing significantly in the construction of outdoor open spaces. Such expansion of green spaces is boosting the demand for ride-on mowers in the market.
Growing Demand for Golf Courses
Golf is increasingly becoming famous worldwide and is witnessing significant growth in participation year-over-year. In 2020, there were more than 38,000 golf courses spread over 205 countries worldwide, with most of the courses concentrated in the top golfing countries, including the US, Canada, the UK, Germany, Japan, France, Australia, and others. The growing participation in golf & the increasing penetration of golf courses boosts the demand for ride-on mowers.
Market Segmentation
In 2021, standard ride-on mowers dominated the market due to their low cost and broader application across multiple areas. The segment is expected to grow at a CAGR of 6.42%. However, lawn tractors are expected to witness the fastest growth rate during the forecast period. Gasoline-powered ride-on mowers lead the market in terms of unit shipment. However, battery-powered lawn mowers are anticipated to observe the highest growth rates. The fuel used to operate the riding lawn mowers is evolving from gasoline to battery-powered ones as it helps in minimizing noise levels & constant engine maintenance requirements. Moreover, the modern Li-ion batteries are lighter in weight and last for a longer time as compared to traditional nickel-cadmium versions. The hydrostatic segment dominates the market; however, the electric motor is projected to grow faster during the forecast period. A lawn mower transmission transfers power from the engine to the mower wheels. It helps manage the equipment's speed by altering its torque to handle the challenging terrain with wet grass, tight corners, obstacles including trees, hills & inclines, and muddy ground. The hydrostatic transmission is the most common & popular transmission in the riding mowers market due to its smooth operation, ease of use, durability & better responsiveness. In 2021, the hydrostatic segment accounting for a revenue share of 67.32%, dominated the market. However, during the forecast period, the electric motor segment is expected to observe the fastest growth at a CAGR of 6.66%.
Key Questions Answered: 1. What will be the market size of the global ride-on mower market by 2027?2. What is the growth rate of the global ride-on mower market?3. Who are the key players in the global ride-on mower market?4. What are the growth factors in the global ride-on mower market?4. Which region is expected to hold the largest share in the global ride-on mower market? Key Topics Covered: 1 Research Methodology 2 Research Objectives 3 Research Process 4 Scope & Coverage 4.1 Market Definition4.1.1 Inclusions4.1.2 Exclusions4.1.3 Market Estimation Caveats4.2 Base Year4.3 Scope of the Study4.4 Market Segmentation4.4.1 Market Segmentation by Product Type4.4.2 Market Segmentation by End-User4.4.3 Market Segmentation by Fuel Type4.4.4 Market Segmentation by Transmission Type4.4.5 Market Segmentation by Blade Type4.4.6 Market Segmentation by Drive Type4.4.7 Market Segmentation by Start Type4.4.8 Market Segmentation by Distribution Channel4.4.9 Market Segmentation by Geography 5 Report Assumptions & Caveats 5.1 Key Caveats5.2 Currency Conversion5.3 Market Derivation 6 Market at a Glance 7 Premium Insights 7.1 Key Insights7.2 Recent Developments7.3 Key Market Drivers7.4 Segment Review7.5 Geographical Outlook7.6 Vendor Landscape 8 Introduction 8.1 Overview8.1.1 Development of Li-Ion Battery8.2 History of Lawn Mowers8.3 Consumer Behavior8.4 Walk-Behind Vs. Ride-On Lawn Mower8.5 Penetration of Green Areas8.6 Lawn Mowers Market: Expert Insights8.7 Us Lawn & Lawn Equipment Insights8.8 Recent Developments8.8.1 New Product Launches8.8.2 Mergers, Acquisitions & Partnerships8.9 Decline in Demand for Gasoline-Based Riding Lawn Mowers8.10 Dynamics of Landscaping Industry8.11 Value Chain Analysis8.11.1 Overview8.11.2 Raw Material & Component Suppliers8.11.3 Manufacturers8.11.4 Dealers/Distributors8.11.5 Retailers8.11.6 End-Users8.12 Regulations & Standards8.12.1 Lawn Mowers8.13 Impact of Covid-19 9 Market Opportunities & Trends 9.1 Growth of Landscaping Industry9.2 Influx of Alternative Fuel Options9.3 Internet Shaping End-Users' Purchasing Behavior 10 Market Growth Enablers 10.1 Demand from Golf Courses10.2 Growth in Manufacturer-Led Programs & Initiatives10.3 Increased Recreational Facilities 11 Market Restraints 11.1 Increased Xeriscaping & Use of Artificial Grass11.2 High Upfront Cost & Long Replacement Cycle11.3 Erosion of Vendor Margins Due to Volatility in Raw Material Prices 12 Market Landscape 12.1 Market Overview12.2 Geographical Insights12.3 Market Size & Forecast12.3.1 by Value12.3.2 by Volume12.4 Market by Geography12.4.1 by Value12.4.2 by Volume12.5 Five Forces Analysis12.5.1 Threat of New Entrants12.5.2 Bargaining Power of Suppliers12.5.3 Bargaining Power of Buyers12.5.4 Threat of Substitutes12.5.5 Competitive Rivalry 13 Product Type 14 Fuel Type 15 End-User 16 Transmission Type 17 Drive Type 18 Start Type 19 Blade Type 20 Distribution Channel
21 Geography 22 North America 23 Europe 24 APAC 25 Latin America 26 Middle East & Africa 27 Competitive Landscape 27.1 Competition Overview 28 Key Company Profiles 28.1 Ariens Company (Ariensco)28.1.1 Business Overview28.1.2 Product Offerings28.1.3 Key Strategies28.1.4 Key Strengths28.1.5 Key Opportunities28.2 Deere & Company28.2.1 Business Overview28.2.2 Product Offerings28.2.3 Key Strategies28.2.4 Key Strengths28.2.5 Key Opportunities28.3 Honda Motor Company28.3.1 Business Overview28.3.2 Product Offerings28.3.3 Key Strategies28.3.4 Key Strengths28.3.5 Key Opportunities28.4 Husqvarna Group28.4.1 Business Overview28.4.2 Product Offerings28.4.3 Key Strategies28.4.4 Key Strengths28.4.5 Key Opportunities28.5 Kubota Corporation28.5.1 Business Overview28.5.2 Product Offerings28.5.3 Key Strategies28.5.4 Key Strengths28.5.5 Key Opportunities28.6 Stanley Black & Decker28.6.1 Business Overview28.6.2 Product Offerings28.6.3 Key Strategies28.6.4 Key Strengths28.6.5 Key Opportunities28.7 Stiga Group28.7.1 Business Overview28.7.2 Product Offerings28.7.3 Key Strategies28.7.4 Key Strengths28.7.5 Key Opportunities28.8 the Toro Company28.8.1 Business Overview28.8.2 Product Offerings28.8.3 Key Strategies28.8.4 Key Strengths28.8.5 Key Opportunities 29 Other Prominent Vendors 29.1 Agco Corporation29.1.1 Business Overview29.1.2 Product Offerings29.2 Al-Ko Gardentech29.2.1 Business Overview29.2.2 Product Offerings29.3 Altoz29.3.1 Business Overview29.3.2 Product Offerings29.4 As-Motor29.4.1 Business Overview29.4.2 Product Offerings29.5 Bad Boy Mowers29.5.1 Business Overview29.5.2 Product Offerings29.6 Bobcat Company29.6.1 Business Overview29.6.2 Product Offerings29.7 Briggs & Stratton29.7.1 Business Overview29.7.2 Product Offerings29.8 Chervon Group29.8.1 Business Overview29.8.2 Product Offerings29.9 Emak Group29.9.1 Business Overview29.9.2 Product Offerings29.10 Generac Power Systems29.10.1 Business Overview29.10.2 Product Offerings29.11 Greenworks Tools29.11.1 Business Overview29.11.2 Product Offerings29.12 Ihi Shibaura Machinery Corporation29.12.1 Business Overview29.12.2 Product Offerings29.13 Masport29.13.1 Business Overview29.13.2 Product Offerings29.14 Metalcraft of Mayville29.14.1 Business Overview29.14.2 Product Offerings29.15 Stihl29.15.1 Business Overview29.15.2 Product Offerings29.16 Sumec Group Corporation29.16.1 Business Overview29.16.2 Product Offerings29.17 Swisher Inc.29.17.1 Business Overview29.17.2 Product Offerings29.18 Techtronic Industries29.18.1 Business Overview29.18.2 Product Offerings29.19 Textron Inc.29.19.1 Business Overview29.19.2 Product Offerings29.20 the Grasshopper Company29.20.1 Business Overview29.20.2 Product Offerings29.21 Walker Manufacturing29.21.1 Business Overview29.21.2 Product Offerings29.22 Wright Manufacturing29.22.1 Business Overview29.22.2 Product Offerings29.23 Yangzhou Weibang Garden29.23.1 Business Overview29.23.2 Product Offerings 30 Report Summary 31 Quantitative Summary 32 Appendix
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