PUBLISHER: Allied Market Research | PRODUCT CODE: 1139990
PUBLISHER: Allied Market Research | PRODUCT CODE: 1139990
The global outdoor power equipment market size was valued at $24.4 billion in 2021, and projected to reach $41.1 billion by 2031, with a CAGR of 5.4% from 2022 to 2031.
Outdoor power equipment uses compact engines or small motors for functioning. If the equipment is used specifically for outdoor services, then it is referred to as outdoor power equipment. The outdoor power equipment generally includes, brush cutters, edgers, chain saws, power rakes, and more. Outdoor power equipment has major applications in both, residential and commercial sectors. Outdoor power equipment is commonly used by end-users, such as lawn & plant care providers and landscape service providers, for commercial purposes. The end users that use outdoor power equipment for residential purposes are do-it-yourself (DIY) enthusiasts and homeowners. The most widely used outdoor power equipment is the lawn mower.
Owing to major R&D investments by global players, there have been tremendous developments in the outdoor power equipment arena, starting from cordless tools, incorporation of sensors, to the adoption of industry 4.0 and robotics to create autonomous equipment. These developments, along with a growing culture of garden and lawn care, increasing affinity for turf sports such as golf, increase in fleets of landscaping service providers, and increasing potential of the construction sector to adopt outdoor power equipment are contributors to the growing demand for outdoor power equipment. Furthermore, initiatives by government and municipalities across regions for adopting sustainable landscaping and green infrastructure projects have also positively impacted the demand for outdoor power equipment.
Considerable steady growth in the construction industry globally is another major factor that is expected to drive the outdoor power equipment market for the next few years. Moreover, the latest technology and new product designs are expected to positively influence the outdoor power equipment market during the forecast period. However, costly equipment and rise in consumer preference for artificial grass hinder the market growth. Automation and customized products supported by notable growth in the construction sector are creating huge opportunities for the outdoor power equipment market.
The outdoor power equipment market is segmented on the basis of type, power source, functionality, application, and region. On the basis of type, it is segmented into lawn mowers, saws, trimmers & edgers, blowers, snow throwers, tillers & cultivators, and others. On the basis of power source, the market is bifurcated into fuel powered and electric powered. On the basis of functionality, it is segmented into connected/smart and conventional. In addition, on the basis of application, the market is segmented into residential and commercial. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.
The major companies profiled in this report include, McLane, American Lawn Mower, Husqvarna, MTD, Oregon, Snow Joe, Briggs & Stratton, TTI, Craftsman, Worx, Bosch, Honda, Cub Cadet, Troy Blit LLC, Champion Power Equipment, Kipor Power, and Toro Company.
The rise in the investment among the major market players to develop highly efficient equipment has fuelled the demand for outdoor power equipment. Additional growth strategies, such as expansion of production capacities, acquisition, partnership, and research & innovation in the solar energy application, led to attain key developments in the global outdoor power equipment market trends.
COVID-19 Analysis:
By Type
By Power Source
By Application
By Functionality
By Region