PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1043498
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1043498
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The Global Outdoor Power Equipment Market is projected to reach USD 27.3 billion by 2026 from USD 23.4 billion in 2021; it is expected to register a CAGR of 3.2% from 2021 to 2026. In the technical aspect, 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.
"LAWN MOWERS TO HOLD LARGEST LARGEST SIZE OF OUTDOOR POWER EQUIPMENT MARKET DURING FORECAST PERIOD "
The lawn mowers segment is projected to account for the largest size of the outdoor power equipment market from 2021 to 2026. The growing demand for lawn mowers can be attributed to the increasing affinity of residential users for lawn and garden care activities and the increasing demand for landscaping services. Lawn mowers are one of the most widely used outdoor power equipment for trimming grass, maintaining and decorating lawns and yards, and maintenance of parks and stadiums. Increasing population leading to increasing residential and commercial spaces with affinity for private lawns is fueling the demand for lawn mowers. Other major end users of lawn mowers include municipalities and landscaping service providers Furthermore, the growing affinity for turf sports such as Golf is fueling the demand for lawn mowers.
"RESIDENTIAL/DIY APPLICATION TO HOLD LARGER SIZE OF OUTDOOR POWER EQUIPMENT MARKET DURING FORECAST PERIOD"
The residential/DIY application segment is projected to account for the larger size of the outdoor power equipment market from 2021 to 2026. Residential end users can be homeowners and do-it-yourself (DIY) enthusiasts. There is an already established and flourishing culture of lawn and garden care across North America and Europe, which is further increasing across other regions as well. Increasing inclination of residential end users for undertaking gardening and home refurbishment activities for improving aesthetics is a major factor contributing to the increasing adoption of outdoor power equipment. Additionally, initiation of major infrastructural projects and growing affinity of homeowners for private lawns fuels the demand for outdoor power equipment. Furthermore, increasing consumer disposable income is resulting in higher demand for outdoor power equipment.
"FUEL-POWERED EQUIPMENT TO HOLD LARGER SIZE OF OUTDOOR POWER EQUIPMENT MARKET DURING FORECAST PERIOD"
The fuel powered segment is projected to account for the larger size of the outdoor power equipment market from 2021 to 2026. Fuel-powered equipment can work on gas, diesel, or petrol and deliver better power and torque, owing to which they are being increasingly adopted by professional arborists and loggers for deforestation and wood clearing activities. Professional landscapers and turf care providers prefer fuel-power equipment for heavy-duty operations, such as large lawns and yards, and stadiums. Increasing affinity for turf sports and growing demand for landscaping services, therefore, are fueling the demand for fuel-powered outdoor power equipment. Many companies are investing significantly in R&D for improving technical aspects of fuel-powered equipment, which has successfully reduced noise and exhaust fumes, and improved operator comfort.
"NORTH AMERICA TO HOLD LARGEST SIZE OF OUTDOOR POWER EQUIPMENT MARKET DURING FORECAST PERIOD"
North America is projected to account for the largest size of the outdoor power equipment market from 2021 to 2026. North America can be further segmented into the US, Canada and Mexico. In North America, there exists a culture of lawn and garden care, which is further increasing as a result of growing affinity of people towards gardening activities and increasing number of private lawns. Additionally, there is an increasing demand for do-it-yourself techniques in the region, which is driving homeowners to undertake several refurbishment and beautification projects. Moreover, the participation of North America in turf sports such as Golf is witnessing massive year-on-year growth. Increasing demand for landscaping services by both residential and commercial establishments is another major factor fueling the demand for outdoor power equipment. Furthermore, government regulations to reduce environmental impact is also driving demand for electric-powered equipment in the region.
Major players profiled in this report are as follows: Briggs & Stratton (US), Deere & Company (US), HONDA (Japan), Husqvarna (Sweden), Makita (Japan), Robert Bosch (Germany), Stanley Black & Decker (US), STIHL Group (Germany), Techtronic Industries (TTI) (Hong Kong), and The Toro Company (US) are a few major players in global Outdoor Power Equipment Market.
This report analyzes the global Outdoor Power Equipment Market with COVID-19 Impact, By Equipment Type, Applications, Power Source, Functionality, and Region. A detailed analysis of the regional markets has been undertaken to provide insights into potential business opportunities in different regions. In addition, the value chain analysis and market dynamics have been provided in the report. The study forecasts the size of the market in four main regions-North America, Europe, APAC & RoW.
This report segments of the global Outdoor Power Equipment Market comprehensively and provides the closest approximation of the overall market size and subsegments that include Equipment Type, Applications, Power Source, Functionality, and Region.
The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities pertaining to the market.
This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
The competitive landscape section includes the competitor ecosystem, as well as growth strategies such as product launches, acquisitions, and expansions carried out by major market players.