Lawnmower market keeps on rolling
The swelling demographic of aging homeowners is one of the factors that will propel sales of exertion-saving lawnmowers through 2021, according to a recent study.
The Freedonia Group’s “Power Lawn & Garden Equipment Market in the U.S.” expects demand for power lawnmowers to rise 3.2% per year to $4.2 billion in 2021.
A limiting factor on lawnmower sales is the slower movement to homeownership among younger adults – leading to less widespread ownership of a lawnmower. Demand also could be restrained by climate-change-induced reductions in lawn sizes, or removal of grass lawns altogether as a conservation-driven home improvement trend.
On the future of electric mowers, analyst Ellitott Woo writes: “Gains for electric products will be mostly limited to less powerful consumer-grade types, and electric lawnmowers will remain a niche product overall.”
The Freedonia Group is a Cleveland-based industry research firm.
For comparison’s sake, Freedonia’s forecast for US Lawnmover sales growth (3.2%) is stronger than its forecast for hand tools (1.7%), but weaker than its forecast for siding (5.6%).
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