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The global market of ride on mower is being significantly aided by the increasing demand for landscaping in order to increase the aesthetic appeal of the residential or commercial properties. Increasing investments by several manufacturers are also aiding the market growth. Furthermore, the rising R&D activities with advancing technologies is also facilitating the market growth. Over the forecast period, the growing interest of the general populace towards gardening is also expected to drive the market demand. However, the market growth was hindered due to travel restrictions and multiple lockdowns leading to an unavailability of equipment during the COVID-19 pandemic. It also benefited from the pandemic due to the urge to landscape a garden among the consumers during the lockdown period.
On the basis of geography, North America is the major region driving the market demand, specifically from the demand created in the regions like the United States, owing to the high demand of maintaining gardens and lawn both in commercial as well as residential sectors. Also, the Asia Pacific sector is expected to drive the demand further due to growing disposable incomes of consumers. Companies like Honda Motor Co. Ltd. (US NYSE: HMC) and The Toro Company (US NYSE: TTC) have also facilitated in maintaining the demand across the globe for the product. In 2019, Honda Motor Co. announced its investment of USD 46.4 million in expanding its plant in Swepsonville, North Carolina, to start the production of its next-generation HRN line of gasoline-powered motors. Such product launches and diversification are expected to aid the market growth in the coming years too.
Market Breakup by Transmission, Wheel Drive, End Use, and Region:
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The major players in the global market of ride on mower include Honda Motor Co. Ltd., The Toro Company, Deere & Company, Kubota Corporation, Husqvarna AB, and Ariens Co, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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