Analysts at Arizton say that the commercial lawn mowers market is likely to cross $37 billion in terms of revenue by 2023, growing significantly at a CAGR of 5.31%.
A recent report on the Commercial Lawn Mower Market - Global Outlook and Forecast 2018–2023, released by Arizton Advisory & Intelligence says that the global commercial lawn mowers market is expected to witness a substantial growth in the next five years.
Growing Awareness About Green Spaces to Propel the Commercial Lawn Mowers Market Growth
There has been a global change in the outlook toward the need for environmental balance to sustain our ecosystem. Urban planners, government agencies, ecologists, environmental bodies, and public-private partnerships are focusing their efforts toward not only sustaining existing green spaces but creating new ones.
This environmental-focused approach coupled with development of non-pneumatic tire technology and influx of battery-powered mowers are expected to drive the growth of the commercial lawn mowers market, globally, over the next five years.
While gas-powered and electric mowers have been around for the longest time, battery-powered equipment are relatively new. In the future, the hybrid lawn mowers segment is expected to gain popularity in combination with battery and engine-powered technology. The market for cost-effective and durable battery-operated mowers will also gain momentum during the next few years.
Increasing Focus on Building Environmentally Sustainable Communities to also Promote Market Growth
Rapid urbanization in APAC is creating a huge market for commercial lawn mowers. Civic bodies are designing more commuter communities such as railway corridors, highways, and entirely new cities, which are environmentally sustainable. This trend is expected to continue and in turn boost the commercial lawn mowers market in this region.
Check our latest report on - Commercial Turf Equipment Market - Global Outlook and Forecast 2019-2024
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