Sales offairway mowersin Europe are set to be valued at US$ 195 Mn in 2021, with stable long-term projections for the market, according to latest insights from Persistence Market Research. The report offers analysis in 8 high-growth markets, providing detailed insights on demand and sales of fairway mower and how the market is expected to evolve over the next ten years. Demand for fairway mowers will see a rise from commercial establishments as well as the sports & recreation industry. Demand for fairway mowerswaned in 2020 due to the COVID-19 economic impact;however, the construction industry is in recovery mode. Considering the possibility of a stimulus in many countries, the long-term outlook on the market remains positive.
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Key Takeaways from Market Study
- International agencies, governments, scientists, private sector, businesses, and major groups and stakeholders are looking to lay the groundwork (including knowledge, resources, and policy mechanisms) for collaborations to launch robust, reliable, and long-term wastewater management systems. This will have a positive effect on fairway mowers and their demand.
- Due to the need for mass production, process automation has become a strong trend in the manufacturing of fairway mowers. The market is shifting toward Industry 4.0 norms, leading to the promotion and almost universal adoption of new technologies.
- Increasing demand is being witnessed from golf courses around Europe and also the globe, with Europe accounting for more than two-fifth of the global market share.
- Sales of electric drive fairway mowers are likely to increase the fastest over the coming years.
- Electric equipment will play a significant role in this market over the coming years, owing to increasing number of market players focusing on R&D. Electric mowers have proven to be an ideal alternative to gasoline and diesel-powered mowers, and other golf course equipment.
- Golf turfs account for the bulk of the demand for fairway mower,globally. Increasing prominence of various options by manufacturers in countries across Europe is creating high growth opportunities for market players.
- Rather than purchasing a new fairway mower, many golf course superintendents choose to lease one.This is due to the high cost of new fairway mowers, which have been rising year after year.
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Competitive Landscape
The market in Europe is highly consolidated, with key players accounting for more than four-fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Deere & Company, Textron Inc., The Toro Company, and Kyoeisha Co., Ltd.
Market Projections
The fairway mower market in Europe is likely to grow at a moderate pace during 2021-2031. However, as it is a much concentrated market, companies are expected to focus more on the development of their markets in different regions inside Europe and expand their business, as it can be a good strategy to generate more sales.
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