Zero Turn Mowers Market 2020 and Forecast 2021-2027

                                          
Report Overview: Zero Turn Mowers Market


The global zero turn mowers market demand was estimated at 612.9 thousand units in 2018 and looks set to grow at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2027. Zero turn mowers have witnessed several developments in terms of technology and product over the past few years. The emergence of remote-controlled and GPS-equipped products has made gardening easier by making the equipment easy to track, monitor, and operate. Additionally, there has been a notable rise in consumer interest in gardening activities, such as landscaping, backyard beautification, and backyard cookouts. These factors are majorly contributing to market growth and are further anticipated to drive the market for zero turn mowers over the coming years. Additionally, the presence of commercial infrastructure properties having large size lawns coupled with a growing demand for landscaping services is anticipated to bolster market growth.
Rapidly expanding commercial and residential construction sectors, especially in developing countries, owing to the increasing population, is also likely to boost the demand for zero turn mowers. Moreover, increased urbanization is anticipated to propel the growth and maintenance of parks, green spaces, and yards. Thus, owing to the aforementioned factor, the demand for zero turn mowers is expected to rise significantly. However, the rise in disposable income and changing lifestyles in developing countries, such as India and China, are also anticipated to fuel the growth of the market for zero turn mowers over the forecast period 2021-2027.
A zero turn mower allows to cut grass more efficiently owing to its ability to turn 180 degrees without leaving a circle of uncut grass. These types of mowers are designed to cut the grass twice as fast as compared to traditional lawn tractors, which results in reduced mowing time. Moreover, zero turn mowers have faster ground speeds than other types of mowers. High speed reduces the operating time and increases the productivity of the lawn activities. These aforementioned factors have resulted in an increased inclination of end-users towards zero turn mowers.
A gradual shift from traditional manual tools to technically advanced, automated equipment is likely to generate avenues for the growth of the market for zero turn mowers. However, zero turn mowers are widely used to maintain parks, sports fields, and golf courses. Besides the aforementioned factors, the establishment of sustainable cities and growing commercial construction are also expected to drive the market over the forecast period. Furthermore, rising awareness about the benefits of green roofs, such as better storm water management by reducing runoff, energy conservation, and carbon sequestration, has encouraged their adoption since the past few years. Moreover, green roofs provide space for urban agriculture and offer a healthy and aesthetically pleasing environment. These factors are also likely to propel their usage, thereby supporting market development.
The high cost of the equipment coupled with high maintenance cost is anticipated to restrain the market growth. Also, the availability of zero turn mowers at lease is likely to hamper the growth of the market for zero turn mowers. However, advancements in technology have led to the introduction of zero turn mowers with several variants and unique features. These developments have been instrumental in driving the demand for zero turn mowers globally. Furthermore, an emerging trend of covering roofs with small and medium-sized plants and vegetation is further expected to spur market growth. Cutting Width Insights
In terms of revenue, the 60 inches segment lead the market with a share of 38.4% in 2018 and is also predicted to register the highest growth rate over the forecast period. These 60-inches cutting width zero-turn mowers are preferred for commercial applications owing to its higher ground speeds and thus significantly reducing the cutting time. Depending upon the area to be mowed and length of the grass, different types of zero-turn mowers with cutting widths are preferred. Thus, the cutting width segment has been further segmented into less than 50 inches, 50 to 60 inches, more than 60 inches.
Meanwhile, 50 to 60 inches segment is estimated to grow at a compound annual growth rate (CAGR) exceeding 5.7% over the forecast period. This growth is attributed to the trend of consumer interest in gardening activities, such as backyard cookouts, backyard beautification, and landscaping, among others. Moreover, increasing awareness owing to benefits offered by zero-turn mowers and resulting adoption is a significant factor contributing to the market growth. Furthermore, households with medium and large-sized lawns are considering zero turn mowers to reduce the mowing time.

Application Insights: Zero Turn Mowers Market

In terms of revenue, the commercial segment lead the market with a share of 57.0% in 2018 over the forecast period. Increasing investments by government and public bodies in the beautification of public spaces, such as existing parks, and yards present near historic monuments, will drive the product demand in this end-use segment. Moreover, the Commercial segment was valued at more than USD 1,400,000 thousand in 2018 and is projected to exceed USD 2,180,000 thousand by 2025, growing at a CAGR of over 5% over the forecast period

Meanwhile, the residential segment is estimated to grow at a compound annual growth rate (CAGR) exceeding 4.9% over the forecast period. The residential segment is also anticipated to witness considerable growth over the forecast period. The growing inclination of household owners towards gardening, considered as a leisure activity is anticipated to propel the segment growth. Moreover, changing lifestyles and increased urbanization are favorably impacting the segment growth.

Regional Insights: Zero Turn Mowers Market

The North America market lead the overall industry in 2018 and accounted for over 36.5% of the revenue share in the same year. The region is expected to expand at a compound annual growth rate (CAGR) of more than 5.0% from 2021 to 2027. One of the major reasons for the expected growth is the rise in the number of landscaping activities coupled with the number of golf course in the region. According to the R & A Group, the number of golf course facilities in 2018 accounted for 16,905 in the region.
Asia Pacific is expected to record the fastest CAGR exceeding 6.0% during the forecast period. The growth is attributed to the rising construction activities in emerging economies such as China and India. Europe is also expected to witness significant growth over the forecast period. The growing popularity of urban gardening in the region is one of the major factors driving the zero turn mowers market.

Key Companies & Market Share Insights: Zero Turn Mowers Market

The competitive rivalry in the market is high owing to the presence of several dominant players. The presence of well-established players has intensified the industry rivalry, due to which the degree of competition is considerably higher. These market players particularly focus on entering into mergers and acquisitions and joint ventures/collaborations in order to enhance their market presence. The industry competition is anticipated to intensify further as a number of companies are focusing on the development of advanced cost-effective products and technologies. Moreover, the major operating players are investing in research and development in order to offer a better product portfolio. Additionally, major market players are focusing on improving their operational efficiency and are also working on extending the engine life and incorporating additional safety features to make the mowing experience safer and more efficient for customers. Some of the prominent players in the zero turn mowers market include:

Key companies Profiled: Zero Turn Mowers Market Report

 	
John Deere Toro
 	
 Husqvarna Group
 	
 Kubota

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Trusted Business Insights has segmented the global zero turn mowers market report based on cutting width, application, and region:

Cutting Width Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2015 - 2025)

 	
Less than 50 inches
 	
50 to 60 inches
 	
More than 60 inches

Application Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2015 - 2025)

 	
Residential
 	
Commercial