Outdoor power equipment market is projected to exhibit a 5.22% CAGR from 2018 to 2025 (forecast period) owing to technological advances.
It can register a substantial valuation by 2025 thanks to the resurgence of the real estate sector and the revival of the construction industry. Furthermore, the preference of battery-powered tools and robotic hand tools over traditional equipment is expected to open up growth avenues for the market.
Increasing use of power tools for do-it-yourself (DIY) projects coupled with growing household activities is likely to augment market growth during the forecast period. The explosive growth in the ecommerce industry and changing buying patterns of customers will lead to changes in sales tactics among manufacturers. Fluctuation of raw material prices and the preference of artificial grass can restrain the market growth.
By product, the global outdoor power equipment market is segmented into cordless and rope power tools. By power source, the market is segmented into electric, battery, and others. Major market applications comprise household and commercial.
The segments covered in the market report are analyzed with respect to four main regions – North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW), with respective country-level market sizing. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market ladder.
Major players in the outdoor power equipment market include Husqvarna (Sweden), Deere & Company (U.S.), Honda Motor Co., Ltd. (Japan), Blount International, Inc. (U.S.), The Toro Company (U.S.), STIHL Holding AG & Co. KG (Germany), Stanley Black & Decker Inc. (U.S.), Makita Corporation (Japan), MTD Products (U.S.), Emak S.p.A. (Italy), and Techtronic Industries Co. Ltd. (TTI) (Hong Kong). The report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail. Mergers and acquisitions and new product launches are two of the biggest strategies employed by players to sustain their position in the market.
The report provides an accurate overview of the market by correlating the historical data with key market dynamics. Our analysts make highly astute projections regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global outdoor power equipment market segmented according to product, power source, application, and region. Trends and opportunities are highlighted coupled with the market share of companies as well as their valuation in the market. It analyzes new revenue sources for players and outlines the various strategies implemented by players.
At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of power equipment manufacturers and others in the supply chain. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
|Market Size||2030: Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Power Source and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Husqvarna (Sweden), Deere & Company (U.S.), Honda Motor Co., Ltd. (Japan), Blount International, Inc. (U.S.), The Toro Company (U.S.), STIHL Holding AG & Co. KG (Germany), Stanley Black & Decker Inc. (U.S.), Makita Corporation (Japan), MTD Products (U.S.), Emak S.p.A. (Italy), and Techtronic Industries Co. Ltd. (TTI) (Hong Kong)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||Increasing use of power tools for do-it-yourself (DIY) projects coupled with growing household activities|
Frequently Asked Questions (FAQ) :
The outdoor power equipment global market is expected to record a substantial market valuation by 2027
The outdoor power equipment global market is projected to register a moderate 5.22% CAGR in the forecast period.
Rising use of power tools for DIY projects and the growing household activities are driving the growth of the market.
the wavering raw material prices and the preference of artificial grass are likely to hamper the growth of the outdoor power equipment market over the review period.
The cordless segment is slated to expand as the fastest-growing segment.
The electric segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global outdoor power equipment market are Deere & Company (U.S.), Blount International, Inc. (U.S.), Honda Motor Co., Ltd. (Japan), among others.
Global Outdoor Power Equipment Market: Competitive Landscape
The global market of outdoor power equipment is characterized by the presence of many global, regional, and local players. include Stanley Black & Decker, Inc., Deere & Company, Makita Corporation, Husqvarna, Honda Motor Co., Ltd are the major five players operating in the global outdoor power equipment market in 2017. Stanley Black & Decker, Inc holding the largest share among top five players with a share of 17.96% as of 2017 followed by Honda Motor Co., Ltd and Husqvarna with the respective shares of 11.90% and 11.46%. These companies continue to retain their strong global presence through expansion, merger & acquisition, partnership & collaboration, and extensive product portfolio.
Stanley Black & Decker, Inc., formerly known as Stanley Works, is a Fortune 500 American company. It manufactures industrial tools and household hardware and provides security products and locks. The company workforce is around 58,000. The three business segments of the company are tools & storage, security, and industrial. Tools and storage segment consists of power tools and hand tools, accessories, and storage (HTAS) businesses. In 2017, annual revenue generated from the tools and storage segment was USD 8.9 billion, which represents 70% of the company’s total revenues. Power tool accessories include drill bits, screwdriver bits, router bits, abrasives, saw blades, and threading products. The company adopts a growth and acquisition strategy that involves geographical and customer diversification in the outdoor equipment market to foster and retain growth. The company sees strategy in acquisition to achieve gradual growth
Deere & Company is an American company with workforce 60,476 which manufactures agricultural, construction, and forestry machinery, which is mainly used in heavy equipment as well as lawn care equipment. The company has three business segments, namely, agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufacture and sales a full line of agriculture and turf equipment. They include large, medium and utility tractors; loaders; combines, cotton pickers, and sugarcane harvesters; sugarcane loaders and pull-behind scrapers; tillage, seeding and application equipment. The company has offices in more than 30 countries such as U.S., Germany, and Brazil. Some of the subsidiaries of the company are John Deere Construction & Forestry, John Deere Lawn and Grounds Care Holdings, Inc., John Deere Central Services GmbH, John Deere Foreign Sales Corporation Limited, and John Deere Funding Corporation. The company’s strategy is to majorly focus on growth through innovation and disciplined expansions. The agricultural equipment solutions are constantly under extensive research and development. The company is also focusing largely on new product developments
Makita Corporation is engaged in the production and sale of electric power tools, woodworking machines, pneumatic tools, gardening equipment, and household equipment. The products offered by the company include cordless, drilling, demolition, cutting, sowing, routering, pneumatic, outdoor power equipment, dust extraction, and accessories. Makita operates 48 subsidiaries worldwide and has offices in more than 30 countries. Makita U.S.A. Inc., Makita (U.K.) Ltd., Makita Werkzeug GmbH, Makita Oy, Makita (China) Co., Ltd., and Makita (Kunshan) Co., Ltd are some of the subsidiaries of the company. Makita is one of the innovation leaders that manufactures best-in-class products. It mainly operates in U.S., Canada, Mexico, U.K., France, Spain, Japan, India, and China. Makita Corporation considers new product launch or innovation in existing product as its key strategy by investing in research and development to become efficient and better positioned for growth. Makita aims to establish high brand recognition and become a strong company that is capable of acquiring and maintaining the top market share of power tools, pneumatic tools, gardening equipment and other tools in all regions.
Husqvarna is one of the manufacturers of outdoor power products and innovative solutions for forest, park and garden care with workforce of 13,252. It is also one of the leading companies in the light construction industry. The Husqvarna group operates through four major business segments, which are Husqvarna division, Gardena division, consumer brands division, and construction division. Husqvarna Division offers the products such as chainsaws, brush cutters, trimmers and leaf blowers, both petrol and electric/battery-powered, wheeled products such as front riders, garden tractors, zero-turn mowers, walk-behind mowers and snow throwers, robotic lawn mowers, accessories and spare parts. Gardena Division offers corded and battery-powered products such as robotic mowers, trimmers, hedge cutters and shrub shears, garden tools such as secateurs, loppers, axes, digging tools and winter tools and smart products such as the Gardena Smart System. In addition, it offers construction products including power cutters, drill motors, floor grinding machines, dust and slurry solutions, demolition robots, and diamond tools for construction and stone industries. It offers floor, tile and masonry, wall, and wire saws; and garden tractors, zero-turn mowers, tillers, hedge trimmers, and leaf blowers. The company sells its products and solutions to forestry, tree care, landscaping, commercial lawn, and garden services sectors, and to home- and landowners under various brands such as the Husqvarna, Gardena, McCulloch, Poulan Pro, Weed Eater, Flymo, Zenoah, Diamant Boart, Jonsered, and Klippo. The company focuses on acquisitions to strengthen, expand and to drive earnings. For instance, in 2017 the company acquired HTC and Pullaman Ermator. Between 2014 and 2017, acquisitions constituted 12.50% of the total activities of the company. It also focuses on new product development to maintain its position.
Honda Motor Company, Ltd. is a Japanese public multinational conglomerate that manufactures automobiles, jets, motorcycles, and power equipment. Honda Motor Co. Ltd. has 367 subsidiaries and 75 affiliates. Honda Power Equipment Mfg., Inc. is one of the subsidiaries of Honda Motor Co., Ltd. Honda has the main business segments of motorcycle business, automobile business, financial business service, power product and other business services. Honda Power Equipment Mfg., Inc. manufactures lawnmowers and general-purpose series engines, which are used in equipment, such as water pumps, pressure washers, and generators. The company strategizes the designing of highly efficient products and as a result is planning to spend USD 6.92 billion (750 billion yen) next year in research and development for the innovation and advancements in products. The focus of company is on improving the performance of existing products and launching new models of lawn mowers such as Miimo. The company also focuses on accelerating the businesses and improving the solutions while expanding globally.