The growing demand for landscaping in both, commercial as well as residential areas is expected to impart significant growth to the ride-on-mower in the coming years. The markets in North America and Europe are projected to exhibit rapid growth in the coming years on the back of escalating demand for increasing leisure and recreation outdoor activities. The growing demand for gardens and lawns is also estimated to act as a significant growth driver in the market. The Asia Pacific is expected to lead the global market in terms of growth rate in the coming years with a high construction rate in rates in developing economies such as China and India. The surge in the sale of new homes is also scaling the revenue in the market. The high adoption rate of robotic mowers in Europe, especially in Germany and Europe is estimated to boost the market growth in the forecast period.
Market players are investing in enhancing the design and manufacturing of robotic gardening equipment to expand the global presence. They are leveraging advanced technologies to incorporate advancements in the market. Manufacturers are exploring the developing markets to benefit from the untapped revenue prospects. Established players in the market include Deere & Company, Honda Motor Co. Lt., FrictionLess World LCC, Briggs & Stratton Corporation, and The Toro Company.
The Ride-on Mower is a type of outdoor power lawn equipment used to maintain lawns and gardens. Ride-on Mowers included under the scope of this study are rear engine riding lawn mowers and zero turn riding lawn mowers and their respective sub-segments in the global Ride-on Mower market.
The global Ride-on Mower market is anticipated to be pegged at US$ 2,557.9 Mn by 2018 end and is expected to reach US$ 3,778.1 Mn by 2027 end while growing at a CAGR of 4.4% over the forecast period. The global Ride-on Mower market is estimated to project incremental opportunity worth US$ 1,108.1 Mn between 2019 and 2027.
Factors Driving Growth of the Global Ride-on Mower Market
Owing to rising demand for landscaping from commercial as well as residential areas, the demand for Ride-on Mowers, in the global market, is estimated to witness significant growth during the forecast period. The demand for landscaping is increasing as landscaping gives an aesthetic appeal to residential and commercial properties. Landscaping adds to the resale value of a building and also speeds up its sale. This, in turn, is anticipated to the growth of the global ride-on mower market during the forecast period.
The global Ride-on Mower market in developed regions, such as North America and Europe, is anticipated to be driven by increasing recreation and leisure outdoor activities. Gardening is considered to be America’s one of the most preferred leisure activity. According to the National Gardening Association, more than 90 million U.S. households (27 million members are aged above 54) participate in some types of garden and lawn activities. Growing demand for lawns and gardens is estimated to also drive the demand for gardening equipment and subsequently, contribute to the global Ride-on Mower market during the forecast period.
According to Oxford Economics, construction in emerging markets will double in size over the next decade, growing by an estimated 110% and will become a US$7 trillion market, representing a massive 17.2% of GDP in 2020. Strongest growth in emerging markets will come from Asia Pacific. This is not surprising given the region’s high population growth. India and China are expected to observe high growth rates in construction over the next decade. Increasing sales of new homes translates into increased demand for lawn and garden care equipment. Furthermore, even without a real estate boom, prevailing attitudes and trends indicate that the demand for ride-on mower will likely continue to grow in the years to come.
Surge in the popularity of robotic lawn mowers in Europe, particularly in Germany, England and Sweden, Oceania etc., will negatively impact the sales of ride-on mowers during the forecast period. Hefty investments to better the manufacturing and designs of robotic gardening equipment will impede the growth of the ride-on mower market, particularly in the U.S. and Europe.
Ride-on Mower Market Segmentation and Forecast
The global Ride-on Mower market can be segmented on the basis of transmission type, wheel drive, end user and region/country. Based on transmission type, the global Ride-on Mower market can be categorized into Electric Transmission, Manual Transmission, and Hydrostatic Transmission. On the basis of end use, the Ride-on Mower market can be categorized into residential and commercial segments. On the basis of wheel drive, the market is segmented into Zero Turn Mowers and Steering Wheel Mowers. Based on regions, the Ride-on Mower report discusses North America, Latin America, Europe, Asia Pacific Excl. Japan, Middle East & Africa and Japan.
By region, the North America Ride-on Mower market is anticipated to account for the dominant share in the global Ride-on Mower market. The Europe Ride-on Mower market is estimated to account for more than one-fifth of the market value share in the global Ride-on Mower market. Moreover, market for ride-on mower in the Asia Pacific region is expected to be an opportunistic market during the forecast period across the globe. The region is anticipated to project growth rate of 6.3% during the forecast period, predominantly owing to the growing middle class population and increasing rate of urbanization in the region.
By transmission type, in terms of volume, the hydrostatic transmission segment is expected to dominate the global Ride-on Mower market throughout the forecast period. Furthermore, in terms of value, the electric transmission segment is estimated to account for around 30% of the market in the year 2018.
By Wheel Drive segment, the Zero turn Ride-on Mower segment is expected to create incremental $ opportunity worth US$ 796.5 Mn between 2019 and 2027 in the global Ride-on Mower market. PMR forecasts that the Zero turn ride-on mower segment is projected to represent a compound annual growth rate (CAGR) of 5.6% from 2019 to 2027.
By end user, in terms of volume, the commercial segment is expected to be valued at 340,311 units by end of 2018. This segment is expected to grow at a volume CAGR of 3.1% between 2019 and 2027 in the global Ride-on Mower market. The Residential Ride-on Mower segment accounts for the dominant share in the market and is anticipated to create incremental $ opportunity of US$ 809.7 Mn over the forecast period.
Key Players Dominating the Global Ride-on Mower Market
Some of the key market participants reported in this study on the global Ride-on Mower market are Honda Motor Co. Lt., Husqvarna AB, Briggs & Stratton Corporation, Deere & Company, Kubota Corporation, MTD Products, Intimidator Group, The Toro Company, Ariens Company, FrictionLess World LCC and Swisher Inc.
Persistence Market Research (PMR) provides an exclusive analysis of the global ride-on mower market in its revised report titled “Ride-on Mower Market: Global Industry Analysis 2013 - 2018 and Market Forecast 2019 - 2027”. The main aim of this report is to offer exhaustive analysis and insights pertaining to the ride-on mower market. This report offers a comprehensive analysis of the global ride-on mower market in terms of market volume (Units) & value (US$ Mn) and year-wise (Y-o-Y) growth by transmission, wheel drive, end-use and region. The study considers 2018 as the base year with market values estimated for 2019 and a forecast developed for the duration of 2019 to 2027. The Compound Average Growth Rate (CAGR) has been represented from 2019 to 2027. The study covers value chain analysis, market dynamics and industry growth analysis, along with segmental-level projections in a comprehensive manner. As per industry experts and findings of the report, the global ride-on mower market is projected to grow at a CAGR of 4.4% between 2019 and 2027 in terms of value. Increasing middle class population and recreational & leisure activities are considered to be the key factors assisting the growth of the ride-on mower market.
Ride-on Mower is the type of outdoor power lawn equipment used to maintain the lawn and gardens. Unlike the most common walk behind lawn mowers, ride-on mower have seating facility as well as operates with greater power in relatively lesser time. Ride-on Mower included in the scope of this study are the rear engine riding lawn mower and the zero turn riding lawn mower and their respective sub-segments in the global Ride-on Mower market.
The Persistence Market Research report on the ride-on mower market analyses the market at regional as well as global level through market segmentation. The primary objective of the report is to offer key insights on current trends, competition positioning, growth rates, market potential and other relevant information and statistics in a suitable manner to readers and various stakeholders in the ride-on mower market.
The report is structured to facilitate readers to develop a thorough understanding of the ride-on mower market. The ride-on mowers market begins with market definitions, which are followed by market taxonomy, market background and market dynamics and analysis of the market by key segments, regional market analysis and competition assessment. Each section of the report covers a quantitative as well as qualitative assessment of the ride-on mower market on the basis of historical developments, facts and key opinions collected from the market participants in the ride-on mower market through interviews.
Ride-on Mower Market: Segmentation
In the next section, the report describes the ride-on mower market structure, macro-economic factors, forecast factors, regional weighted average pricing analysis and provides an overview of the value chain along with profitability margins and an indicative list of the key stakeholders involved in every stage of the ride-on mower market.
The next section of the report provides value (US$ Mn) and volume (Units) projections for the ride-on mower market on the basis of respective segments at a global level. The global ride-on mower market values represented in the section have been agglomerated by collecting data and information at a regional level. The ride-on mower market information along with key insights and facts cover unique analysis frameworks, such as year-on-year growth trend comparison, absolute $ opportunity analysis, market attractiveness and share analysis, for each of the sub-types of the segments covered in each segment. The subsequent section of the report presents a summarized view of the global ride-on mower market based on six prominent regions considered in the study.
The ride-on mower market analysis section of the report covers weighted average pricing analysis and market projections for each segment and also discusses market share analysis, Y-o-Y growth trends, market attractiveness analysis, market share analysis and incremental $ opportunity assessment.
All the above sections evaluate the present market scenario and growth prospects in the global ride-on mower market while the forecast presented in the section assesses the market size in terms of volume and value.
Market numbers, pertaining to regional as well as country level data and various segments by end use, have been estimated through a combination of primary and secondary research. Key sources referred to arrive at the global ride-on mower market size include ride-on mower manufacturers, suppliers, end-users, industry association & trade experts and secondary documents available through public domains, paid databases and PMR’s in-house data repository.
In order to offer an accurate market forecast, PMR’s proprietary regression analysis forecast model was then utilized to derive the market estimation for forecast years, which takes into account the effects of certain direct and macro-economic factors on the global and regional ride-on mower market. The pertinent opinions of key primary respondents for specific segments and geographies were also taken into consideration for forecasting the segment level market size and dynamics in the global ride-on mower market.
In the final section of the ride-on mower market report, the competition landscape for the ride-on mower market has been included to provide report audiences with a dashboard view, categorized on the basis of providers present in the value chain, their ride-on mower market presence and key differentiating strategies. The primary category of providers covered in the report includes ride-on mower manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the ride-on mower market. Detailed profiles of providers have also been included under the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the ride-on mower market. Examples of some of the key competitors covered in the ride-on mower report include Honda Motor Co. Lt., Husqvarna AB, Briggs & Stratton Corporation, Deere & Company, Kubota Corporation, MTD Products, Intimidator Group, The Toro Company, Ariens Company, FrictionLess World LCC and Swisher Inc.