• time;2025-05-07 16:19:11

The global smart lawn mower market is experiencing explosive growth. From the demand side, as of 2023, there are approximately 250 million courtyard gardens worldwide. Based on statistics from multiple third-party organizations, the global market size for lawn mowing robots is estimated to be between 1.13 billion and 2.27 billion US dollars in 2023, and is expected to reach 2.76 billion to 4.04 billion US dollars by 2028. With the rapid changes in technology and the downward shift in price bands, the penetration of product categories is accelerating. CITIC Securities expects that by 2025, the iteration of new products from various manufacturers in dimensions such as navigation and obstacle avoidance, climbing and obstacle avoidance, and edge mowing will completely leverage the billion dollar incremental space in the European and American markets.

From the perspective of market competition, the main players in the global intelligent lawn mowing robot market are Husqvarna and Gardena from Sweden and WORX from China. According to the shipment volume, the three companies account for about 90% of the global lawn mowing robot market share, with Husqvarna Group accounting for 750000 units and WORX Group accounting for 300000 units.

In terms of trade policy, the US policy of "reciprocal tariffs" has led to an increase in tariffs on imported components that some domestic companies rely on for exporting to the US market, thereby raising procurement costs. However, the penetration rate of lawn mowing robots in the United States is much lower than that in Europe. For example, the proportion of American households owning lawn mowing robots is only 2%, and the proportion of intelligent robots in newly sold lawn mowers is less than 5%, while in Europe it is about 50%. Therefore, many Chinese enterprises have chosen to vigorously explore the European market, such as the impressive performance of Ecovacs lawn mowers in Europe, and the borderless mowing robot brand Navimow from Company 9, which has received high praise in Europe. Company 9 stated that its revenue and profit growth mainly comes from China and Europe, and the impact of tariff adjustments on overall operations is limited.

According to publicly available data, the net profit attributable to shareholders of the listed company in 2024 for Company 9 is approximately RMB 950 million to RMB 1.12 billion. In the first three quarters of 2024, the sales revenue of Company 9's lawn mowing robot reached nearly RMB 600 million, a year-on-year increase of 379%. The total number of household users also exceeded 100000, making it the first boundaryless lawn mowing robot brand to achieve this milestone.

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