Outdoor Power Equipment Market Size is expected to cross USD $43.8 billion by 2028 at a CAGR of 5.22% during the forecast period 2021-2028
$43.8 billion
5.22%
North America
2021-2028
Outdoor Power Equipment Market size is projected to exhibit a 5.22% CAGR from the forecast period (2022 to 2030) by owing to technological advances.
The Outdoor Power Equipment market will gain growth owing to technological advances occurring worldwide. Outdoor power equipment uses compact engines or small motors to function. When the equipment is used specifically for outdoor services, it is determined as outdoor power equipment. The outdoor power equipment includes several types: brush cutters, edgers, chain saws, power rakes, and more. Outdoor power equipment is a major need in commercial and residential industries. End-verticals commonly use it for commercial purposes, such as lawn & plant care providers and landscape service providers. The end verticals who use outdoor power equipment for residential purposes are do-it-yourself (DIY) enthusiasts and homeowners. The most widely used outdoor power equipment is the lawnmower. The increasing need for the DIY approach in almost all households is the major growth factor. The rising outdoor activities are also a boosting effect on the market. The considerable growth of the construction sector also has a major hand in the Outdoor Power Equipment 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.
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).
April 2022
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.
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.
Product
Power Source
Application
Regions
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.
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: Significant Value |
CAGR | 5.22% CAGR(2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
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 |
Husqvarna, Deere & Company, Honda Motor Co., Ltd., Blount International, The Toro Company, STIHL Holding AG & Co. KG, Stanley Black & Decker Inc., Makita Corporation, MTD Products, Emak S.p.A., Techtronic Industries Co. Ltd. and Others are major companies ni the outdoor power equipment market.
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.