Outdoor Power Equipment Market By Type (Lawn Mowers, Saws, Trimmers and Edgers, Blowers, Snow Throwers, Tillers and Cultivators, Others), By Power Source (Fuel Powered, Electric Powered), By Functionality (Connected/Smart, Conventional), By Application (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031
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:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The novel coronavirus has affected several economies and caused lockdown in many countries, which has limited the growth of the market. The shutdown of industrial manufacturing led to the decline in demand for gas related equipment in most of the countries globally, which led to decline in demand for outdoor power equipment. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.
In the post-pandemic period, a surge in demand for outdoor power equipment has been witnessed with the resumption of operations in various industries. The COVID-19 pandemic has substantially impacted the value chain of the outdoor power equipment market; however, there has been a consistent revival of the value chain, leading to steady market growth. The U.S., China, and Germany accounted for significant shares of the market in 2021. Considerable increase in demand for maintenance of public and private spaces from commercial and residential/DIY application segments is driving the market growth in the post-pandemic period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the outdoor power equipment market analysis from 2021 to 2031 to identify the prevailing outdoor power equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the outdoor power equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global outdoor power equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Lawn Mowers
Saws
Trimmers and Edgers
Blowers
Snow Throwers
Tillers and Cultivators
Others
By Power Source
Fuel Powered
Electric Powered
By Application
Residential
Commercial
By Functionality
Connected/Smart
Conventional
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
U.K.
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
Earthwise
Husqvarna
MTD
Oregon
Snow Joe
TTI
Craftsman
Worx
Bosch Ltd
Honda
Cub Cadet
Troy Blit LLC
Toro Company
Briggs & Stratton Corporation
McLane
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