CLEVELAND, March 2, 2017 /PRNewswire/ -- Demand for power lawnmowers is forecast to rise 3.2% per year to $4.2 billion in 2021. Sales advances are expected to slow from the rebound-fueled pace of the 2006-2011 period. Growth will benefit from the aging homeowner demographic, as older consumers place a higher value on powered products that minimize exertion. Additionally, members of this demographic may increasingly opt to outsource their lawncare to professional landscapers, supporting sales of high value products. While landscaping firms tend to use commercial grade turf and grounds mowers for larger jobs, landscapers working in the residential market also commonly use higher grade consumer models. These and other trends are presented in Power Lawn & Garden Equipment Market in the US, 12th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Electric lawnmowers are projected to gain market share going forward, as technological advances will make battery powered products increasingly competitive with engine driven equipment. However, analyst Elliott Woo points out, "Gains for electric products will be mostly limited to less powerful consumer-grade types, and electric lawnmowers will remain a niche product overall." At present, traditional engine driven technology remains the more practical choice for larger equipment such as riding mowers.
Sales of new lawnmowers, long-lived equipment, will continue to be constrained by competition from used versions, which are widely available. Another limiting factor is slower movement to homeownership -- and thus less widespread ownership of a lawnmower -- among younger adult demographics. Demand will also be restrained as climate change could lead to further reductions in lawn sizes or removal of lawns altogether; droughts in the Southwest have already had this effect in recent years.
More information about the study is available at http://www.freedoniagroup.com/industry-study/power-lawn-garden-equipment-market-in-the-us-by-product-power-source-market-and-region-12th-edition-3501.htm
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Machinery & Equipment studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group