Outdoor Power Equipment Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Outdoor Power Equipment are tools and equipments applied for outdoor functions including landscaping and gardening. They are used for lawns, grass, hedges, gardens, etc. The equipment is effective and reliable. It is made up of a variety of tools and machines like chainsaws, lawn mowers, trimmers, blowers, etc.
In 2018, Stanlly Black & Decker announced acquisition of a 20% stake in MTD Products Inc, a privately owned manufacturer of outdoor power equipment, with the option to acquire the remaining 80% from 1st July 2021. In 2019, Home Depot, a major retail chain for outdoor power equipment in the US, gave the best innovation award to the Cub Cadet Ultima Series ZTI 50 FAB zero turn riding mower. The mower has a zero turn riding range which is really efficient for small-scale gardening. In Singapore, a vertical farming set-up has been invented to enable growing of plants indoors mainly in urban areas with no fertilizers, chemicals or pesticides used. In July 2020, Lowes Companies Inc, a leading outdoor power equipment retailer, announced a partnership with EGO, a leading brand in battery- powered outdoor power equipment, to stock its products.
Manufacturers are incorporating strategies including new technologies like the robotic outdoor power equipment and electric lawn mower which enable electricity cost savings.
Outdoor Power Equipment Market Growth and Trends
Driving factors for the industry :
• Rising urbanization and infrastructural developments along with disposable incomes of consumers and high investments from companies are among the factors that are projected to boost the demand for more advanced outdoor power equipment during the forecast period.
• Advanced features and technological developments on global outdoor power equipment market is expected to drive the market’s growth.
• The growing demand for high quality real-estate and implementation aesthetics by Home Owners Associations with growing demand for outdoor power equipment are expected to drive significant growth.
• Outdoor power equipment is extensively required to keep vegetables fresh outside, a process called hydroponics, another major factor helping in driving the market growth.
• Implementation of battery-powered outdoor power equipment for mowing lawns and gardening activities, growing demand for landscaping services are the major key factors driving the growth of the market.
• With growing urbanization in India and China along with heavy investment in infrastructural development and urban area planning, there has been a significant demand for outdoor power equipment that can support the construction industry for various urban development projects and drive the market growth.
• Outdoor power equipment is majorly dependent on factors like population and age distribution, consumption, expenditure, housing and other constructions, along with recreation and leisure activities.
• With the increasing urbanization, consumers will be progressively ready to spend their expendable and disposable earnings on durable goods, recreational activities helping boost the demand for residential and commercial outdoor power equipment.
• Companies are taking interest in the development of fully and semi-autonomous landscaping and lawn equipment for both residential and commercial customers, owing to technological interfaces and high demand for alternative power sources.
• Government regulation and awareness for using green or environment-friendly products for landscaping purposes, is driving the rapid growth of electric-powered outdoor power tools in these sectors.
Challenges for the industry :
• The lack of access is exacerbated by cheap fast food culture, which is also leading to an endemic epidemic of diseases like obesity, digestive disorders and diabetes.
• High installation and maintenance cost and availability of outdoor power equipment at lease are going to hamper the growth of the market.
Outdoor Power Equipment Market Regional Analysis
Outdoor Power Equipment Market Share and Competition
Key companies operating in this industry are: Husqvarna, Deere & Company, Honda, The Toro Company, Stihl Group, MTD Products, Ariens Company, Yamabiko Corporation, Stanley Black & Decker, Techtronic Industries (TTI), Briggs & Stratton Corporation, STIGA S.p.A., AL-KO Kober Group, Emak S.p.A, Robert Bosch, Makita, Schiller Grounds Care, Excel Industries Inc., Chervon (China) Trading Co., Ltd, and Jacobsen (Textron Company).
Outdoor Power Equipment Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Equipment Type Analysis (Revenue, USD Million, 2020 - 2027)
• Lawn Mowers
• Saws
• Trimmers and Edgers
• Blowers (Backpack and Handheld)
• Tillers and Cultivators
• Snow Throwers
• Others
Power Source Analysis (Revenue, USD Million, 2020 - 2027)
• Fuel Powered
• Electric Powered (Corded and Cordless)
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Commercial
• Residential/DIY
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Outdoor Power Equipment Market Companies
• Husqvarna
• Deere & Company
• Honda
• The Toro Company
• Stihl Group
• MTD Products
• Ariens Company
• Yamabiko Corporation
• Stanley Black & Decker
• Techtronic Industries (TTI)
• Briggs & Stratton Corporation
• STIGA S.p.A.
• AL-KO Kober Group
• Emak S.p.A
• Robert Bosch
• Makita
• Schiller Grounds Care
• Excel Industries Inc.
• Chervon (China) Trading Co., Ltd
• Jacobsen (Textron Company)
Available Versions: -
United States Outdoor Power Equipment Market Research Report
Europe Outdoor Power Equipment Market Research Report
Asia Pacific Outdoor Power Equipment Market Research Report
India Outdoor Power Equipment Market Research Report
