Global Outdoor Power Equipment Market: Analysis By Energy Source (Gas-Driven, Cordless, Parts & Attachments And Corded), By Type (Lawn Mower, Chainsaw, Trimmer & Edger, Blowers, Tillers & Cultivators, Snow Throwers And Others), By Sales Channel (Offline A

Global Outdoor Power Equipment Market: Analysis By Energy Source (Gas-Driven, Cordless, Parts & Attachments And Corded), By Type (Lawn Mower, Chainsaw, Trimmer & Edger, Blowers, Tillers & Cultivators, Snow Throwers And Others), By Sales Channel (Offline And Online), By Region Size And Trends With Impact Of COVID-19 And Forecast Up To 2027

The global outdoor power equipment market in 2021 was valued at US$32.22 billion. The market value is projected to reach US$46.49 billion by 2027. Outdoor power equipment (OPE) is an equipment with small motors or engines primarily used for exterior service. The outdoor power equipment generally includes, brush cutters, edger, chain saws, power rakes, and more. Outdoor power equipment is commonly used by end users, such as lawn & plant care providers and landscape service providers, for commercial purposes.

The market value is expected to grow at a CAGR of 6.30% during the forecast period of 2022-2027, with gas-driven segment being the dominant energy source. Buyers increasingly prefer OPE as they are more environmentally-friendly, and deliver power and performance that can rival traditional products. Infact, the increase in the development of parks and small scale gardens in the residential building and in cities to curb the effect of pollution have led to increase in the demand for outdoor power equipment such as lawn mower, chainsaw, blower, etc.

Market Segmentation Analysis:

By Energy Source: The report provides the bifurcation of the market into four segments based on the energy source: gas-driven, cordless, parts & attachments and corded. In 2021, in terms of value, gas-driven segment held the major share in the market, followed by parts & attachments. The presence of renewable fuel gas resources, such as ethanol fuel and other bio fuels has driven the demand for the gas-driven outdoor power equipment. Besides, cordless OPE is expected to witness rising popularity among customers owing to its portability, convenience and falling battery prices.

By Type: The report provides the bifurcation of the market into into seven segments based on the type: lawn mower, chainsaw, trimmer & edger, blowers, tillers & cultivators, snow throwers and other outdoor power equipment. In 2021, lawn mower held the major share in the market, followed by trimmer and edger. The increase in the development of parks and small scale gardens in the residential building and in cities to curb the effect of pollution have led to increase in demand for lawnmowers to make the parks and gardens look pleasant. The increase in services in sports lawns and rising number of golf courses across the world is expected to contribute to the growth of trimmers and edgers.

By Sales Channel: The report provides the bifurcation of the market into into two segments based on the sales channel: offline and online. In 2021, offline channel hold a dominant position in the outdoor power equipment market due to increasing reliance on retail outlets. The outdoor power equipment’s sales through direct purchase are declining as manufacturers of lawn and garden products are increasingly finding success on e-commerce platforms. Thus, the online segment is expected to register the highest CAGR over forecasted years.

Market Dynamics:

Growth Drivers: One of the most important factors impacting the global outdoor power equipment market is the increasing demand for cordless outdoor power equipment as people are inclining more toward greater flexibility and portability. Furthermore, growing awareness of environmental issues leads to increasing adoption of the outdoor power equipment using lithium-ion batteries, as they are environment friendly and maximize energy output. Furthermore, the market has been growing over the past few years, due to factors such as rapid urbanization, growing number of golf club, falling costs of lithium-ion batteries and inclining construction activities and many other factors.

Challenges: However, the market has been confronted with some challenges specifically, high maintenance costs and fluctuating raw material prices, etc.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as gardening trend, technological advancement, growing popularity of do it yourself (DIY) trend etc. The development and interest of people towards horticulture and other kinds of gardening have stimulated the growth of the outdoor power equipment market. Furthermore, the growing popularity of home improvement projects bodes well for the growth of the outdoor power equipment and garden tools market during the forecast period. Technology advancements and the adoption of wireless networking techniques result in the development of smart and connected tools. The manufacturing of smart and connected equipment is becoming more critical to leading outdoor power equipment manufacturers, thus driving the industry growth in upcoming years.

Impact Analysis of COVID-19 and Way Forward:

The pandemic in 2020 did cast a gloomy outlook on almost all industries, worldwide. The outbreak of COVID-19 impacted market growth during the initial few months of 2020. However, in later months, demand for various outdoor power equipment has witnessed strong growth with the resumption of operations in multiple industries. A considerable increase in the market for Do-it-yourself (DIY) equipment and do-it-for-me (DIFM) services in the commercial and residential segments are expected to drive market growth.

Competitive Landscape:

The global outdoor power equipment market is relatively concentrated, with the top 5 players including TTI, Chevron, SWK, Bosch and Greenwork accounting for more than 60% share of total market.

The key players in the global outdoor power equipment market are:

Chervon Holdings Limited
Robert Bosch GmbH
Techtronics Industries Ltd.
Stanley Black & Decker, Inc.
Husqvarna Group
Makita Corporation
Honda Motor Co., Ltd.
Briggs & Stratton Corporation
The Toro Company
Deere & Company
Yamabiko Corporation
Ariens Company

In terms of market positioning, TTI, Chervon has significant market presence as the largest player in the global electric outdoor power equipment market, with the ambition to become the dominant players within the long-term. The market market is expected to keep consolidating, in light of enhancing user stickiness owing to the interchangeable battery platforms, along with accumulating brand image and understanding of end-user preferences.  

Global Outdoor Power Equipment Market: Analysis By Energy Source (Gas-Driven, Cordless, Parts & Attachments And Corded), By Type (Lawn Mower, Chainsaw, Trimmer & Edger, Blowers, Tillers & Cultivators, Snow Throwers And Others), By Sales Channel (Offline And Online), By Region Size And Trends With Impact Of COVID-19 And Forecast Up To 2027 - Report Summary

Report Metrics	Details
Years Considered	2017-2027
Base Year	2021
Forecast Period	2022-2027
Page Count	159
Units Referenced	US $
Segments/Key Topics	By Energy Source, By Type, By Sales Channel
Key Companies Mentioned	Chervon Holdings Limited, Robert Bosch GmbH, Techtronics Industries Ltd., Stanley Black & Decker, Inc., Husqvarna Group, Makita Corporation, Honda Motor Co., Ltd., Briggs & Stratton Corporation, The Toro Company, Deere & Company, Yamabiko Corporation and Ariens Company

Five FAQs about the Report

What is the size of this market?
The global outdoor power equipment market in 2021 was valued at US$32.22 billion.

What is the forecasted growth for this market?
The market would reach US$46.49 billion by 2027, growing at a CAGR of 6.30 %, during the forecast period of 2022-2027.

What are key factors driving this market?
One of the most important factors impacting the global outdoor power equipment market is the increasing demand for cordless outdoor power equipment as people are inclining more toward greater flexibility and portability. Furthermore, growing awareness of environmental issues leads to increasing adoption of the outdoor power equipment using lithium-ion batteries, as they are environment friendly and maximize energy output. Several companies are focused on innovation in lithium-ion batteries. Besides, the growing popularity of home improvement projects bodes well for the growth of the outdoor power equipment. In addition, the growing investments in infrastructure and construction industry are fuelling the demand for equipment in the commercial sector.

How is this market segmented in this report?
In the report, the global outdoor power equipment market is segmented based on energy source (gas-driven, cordless, parts & attachments and corded), by type (lawn mower, chainsaw, trimmer & edger, blowers, tillers & cultivators, snow throwers and others), and by sales channel (offline and online).

What is the definition of this market in this report?
Outdoor Power Equipment (OPE) is an equipment with small motors or engines primarily used for exterior service. The outdoor power equipment generally includes, brush cutters, edger, 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. The equipment is powered by a gasoline engine, electric unit, or batteries and is strong and effective, which is used more frequently.

What are the major influences driving the growth/decline of this market?
The global outdoor power equipment market growth is predicted to be supported by numerous growth drivers such as upsurge in rapid urbanization, growing number of golf club, falling costs of lithium-ion batteries and inclining construction activities and many other factors. Conversely, the market growth would be negatively impacted by various challenges such as high maintenance costs and fluctuating raw material prices, etc.