PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106180
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106180
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Global Powered Outdoor Equipment Market to Reach 142.6 Million Units by 2027
In the changed post COVID-19 business landscape, the global market for Powered Outdoor Equipment estimated at 108 Million Units in the year 2020, is projected to reach a revised size of 142.6 Million Units by 2027, growing at a CAGR of 4.1% over the analysis period 2020-2027. Gas-Fired Outdoor Grills, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach 36.7 Million Units by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Walk Behind Power Mowers segment is readjusted to a revised 4.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at 42.8 Million Units, While China is Forecast to Grow at 5.6% CAGR
The Powered Outdoor Equipment market in the U.S. is estimated at 42.8 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 15.6 Million Units by the year 2027 trailing a CAGR of 5.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 21.3 Million Units by the year 2027.
Trimmers/Brush Cutters Segment to Record 4.4% CAGR
In the global Trimmers/Brush Cutters segment, USA, Canada, Japan, China and Europe will drive the 4.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of 12.4 Million Units in the year 2020 will reach a projected size of 16.5 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 3.2% CAGR through the analysis period.
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