According to market research conducted by IndexBox, the global mower market decreased to X million units in 2015, which was X million units (or X%) less than the year before and X million units (or X%) below the highest level of consumption recorded in 2008.
After a significant market decline in 2009, the market gradually stabilized over the X years that followed. However, in 2013, it started a downward trend, declining slightly over the last two years. In value terms, the market dropped by X% in 2015, ending the year at X billion USD.
In the medium term, the performance of the market is forecast to grow with an anticipated CAGR of +X% for the nine-year period from 2015 to X, which is expected to lead the market volume to X million units by the end of X.
The mower sector as a whole is projected to continue with an upward production trend over the next nine years. The rising consumption in developing countries, primarily China, Brazil, and countries of South America, will be the main driver of mower market growth. In addition to stable growth in consumption and production in these countries, there is also a seasonal demand for lawn mowers (world championships, local championships, Olympic games, and other events held in stadiums with lawns). At the same time, despite the rising cost of labor, China remains the leading global producer of machinery for lawns. Many manufacturers from developed countries choose China as a production base, as opposed to other countries in Asia, where wages are much lower. This preference is a result of the established business ties with foreign companies over the past X years, favorable conditions for foreign businesses, and relatively highly skilled workforce.
Despite the fact that Asia plays a leading role in consumption, private consumption of lawnmowers in Asian countries is not very widespread, unlike the economically developed countries of Europe and the U.S. The infrastructure and sports sector are the centers of consumption of lawnmowers in Asia. At the same time, the market is not expected to grow in the U.S. due to its oversaturation, while the European market is expected to post only very weak gains.
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(February 24, 2019)Limited Time Offer
