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Pune, India, Aug. 23, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global outdoor power equipment market size is projected to hit USD 43.24 billion by 2029 and exhibit a CAGR of 5.3% during the forecast period. The market size stood at USD 28.61 billion in 2021 and USD 30.04 billion in 2022. The rising adoption of industry 4.0 and increasing lawn and garden care are expected to boost the market growth, states Fortune Business Insights in its report titled Outdoor Power Equipment Market Outlook 2022-2029.
Major Players Announce Novel Products to Expand Product Portfolio
Prominent companies operating in the market announce novel products to expand product portfolios. For example, Karcher announced its autonomous robotic floor scrubber in April 2022. This launch was aimed at expanding Karcher’s product line-up and boosting its overall brand presence. Furthermore, major companies operating in the market adopt expansion, research and development, mergers, partnerships, and innovations to boost their market position globally.
Key Industry Development:
May 2022: Andreas STIHL and Briggs & Stratton announced a new manufacturing relationship that will expand the offerings of STIHL products in the U.S.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 5.3% |
| 2029 Value Projection | USD 43.24 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 28.61 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 264 |
| Segments covered | By Type (Lawn Mowers {Walk-behind Mowers, ZTR Mowers, Riding Mower, Robotic Mower, Lawn & Garden Tractor}, Trimmers {Hedge Trimmer, Brush Cutter & Trimmer, Edge Trimmer/Edger, and Others}, Blowers {Snow Blower, Leaf Blower}, Chainsaws, Pressure Washers, Tillers & Cultivators, and Others), By Power Source (Gasoline Powered, Battery Powered, Electric Motor/Corded), By Sales Channel (E-commerce, Direct Purchase), By Application (Residential/DIY, Commercial) and Regional |
| Growth Drivers | Strong Focus on Technological Advancements to Foster Industry Growth |
| Major Players Announce Novel Products to Expand Product Portfolio |
Drivers and Restraints:
Strong Focus on Technological Advancements to Foster Industry Growth
Outdoor power equipment is incorporated with engines and small motors that are predominantly used for exterior service. Strong focus on technological advancements is expected to enhance the product demand. Furthermore, fluctuating gas prices, development of remote working, and increasing focus on environmental protection are expected to boost the product adoption. In addition, easy usage and lower vibration and noise are expected to boost the equipment’s adoption. These factors may drive the outdoor power equipment market growth.
However, fluctuating raw material prices and high maintenance costs may hinder industry growth.
COVID-19 Impact:
Robust E-commerce Sales Fostered Industry Growth
This market was positively impacted during the COVID-19 pandemic attributable to strong e-commerce sales. The alarming spike in COVID-19 infections led to the imposition of strict lockdown norms, thereby halting offline sales. This factor led to the adoption of online sales, enhancing the equipment’s sales. Furthermore, the rising demand for the equipment by consumers interested in maintaining a pleasant outdoor space is expected to enhance sales. Moreover, manufacturers adopted automation to enhance their production capacity and reduce labor costs. These factors propelled market growth during the pandemic.
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Report Coverage:
The report provides a detailed analysis of the top segments and latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines regional developments and strategies undertaken by the market’s key players.
Segmentation:
Mowers Segment to Dominate Attributable to Rising Gardening Activities
By type, the market is segmented into lawn mowers, trimmers, blowers, chainsaws, pressure washers, tillers & cultivators, and others.
The mowers segment is expected to dominate due to rising gardening activities. Rising lawn maintenance activities are expected to enhance the equipment’s adoption. Furthermore, increasing utilization of mowers for controlling plant growth is expected to bolster segmental growth.
Gasoline Powered Segment to Dominate Owing to its Extensive Adoption in Heavy-Duty Applications
As per power source, the market is categorized into gasoline powered, battery powered, and electric motor/corded.
The gasoline powered segment is expected to dominate due to its extensive heavy adoption in heavy-duty applications. This factor incited segmental growth.
Direct Purchase Sales Channel Segment to Dominate Owing to Increasing Reliance on Retail Outlets
By sales channel, the market is segregated into e-commerce and direct purchase.
The direct purchase segment is expected to dominate due to consumers’ reliance on retail outlets in Asia Pacific, North America, and Europe.
Residential/DIY Segment to Dominate Owing to Rising Gardening Activities
Based on application, the market is bifurcated into residential/DIY and commercial
The residential/DIY segment is expected to dominate owing to increasing gardening activities. Furthermore, growing landscaping services and Do-It-Yourself (DIY) projects are expected to foster segmental growth.
Regionally, the market is clubbed into North America, Europe, Asia Pacific, Rest of the World.
Regional Insights:
Growth of Commercial Lawns and Parks to Propel Market Progress in North America
North America is expected to dominate the outdoor power equipment market share due to the growth of commercial lawns and parks. The market in North America stood at USD 13.7 billion in 2021 and is expected to gain a huge portion of the global market share. Furthermore, the wide adoption of lawnmowers, chain saw, and a leaf blower in garden parks is likely to foster industry growth.
In Europe, rapid automation is expected to foster the product demand. Furthermore, rising lawnmower adoption in the region is expected to foster industry growth.
In Asia Pacific, rapid globalization and increasing development of the building industry are expected to enhance the demand for outdoor power equipment. These factors may propel market growth.
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A List of Key Manufacturers Operating in the Global Market:
- Karcher
- Yamabiko Manufactures
- Husqvarna Group
- Techtronic Industries
- Maruyama U.S., Inc.
- Stanley Black & Decker
- MTD Products
- Makita Group
- Vb Emak
- Toro Company
- Hikoki
- Deere
- Jonsered
- Bosch
- Honda
- Cub Cadet
- Troy Blit LLC
Outdoor Power Equipment Market Segmentation:
By Type:
- Lawn Mowers
- Trimmers
- Blowers
- Chainsaws
- Pressure Washers
- Tillers & Cultivators
- Others
By Power Source:
- Gasoline Powered
- Battery Powered
- Electric Motor/Corded
By Sales Channel:
- E-commerce
- Direct Purchase
By Application:
- Residential/DIY
- Commercial
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Table of Content:
- Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions & Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Insight on Regulatory Landscape
4.4. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Outdoor Power Equipment Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Outdoor Power Equipment Market (USD Billion) Analysis, Insights, and Forecast, 2018–2029
6.1. Key Findings
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1. Lawn Mower
6.2.1.1.Walk-behind Mowers
6.2.1.2.Zero-turn Radius (ZTR) Mower
6.2.1.3.Riding Mower
6.2.1.4.Robotic Mowers
6.2.1.5.Lawn & Garden Tractors
6.2.2. Trimmer
6.2.2.1.Hedge Trimmer
6.2.2.2.Brush Cutters & Trimmer
6.2.2.3.Edge Trimer/Edger
6.2.2.4.Others
6.2.3. Blower
6.2.3.1.Snow Blower
6.2.3.2.Leaf Blower
6.2.4. Chainsaw
6.2.5. Pressure Washer
6.2.6. Tillers & Cultivators
6.2.7. Others
6.3. Market Analysis, Insights, and Forecast – By Power Source
6.3.1. Gasoline Powered
6.3.2. Battery Powered
6.3.3. Electric Motor/Corded
6.4. Market Analysis, Insights, and Forecast – By Sales Channel
6.4.1. E-commerce
6.4.2. Direct Purchase
6.5. Market Analysis, Insights, and Forecast – By Application
6.5.1. Residential/DIY
6.5.2. Commercial
6.6. Market Analysis, Insights, and Forecast – By Region
6.6.1. North America
6.6.2. Europe
6.6.3. Asia Pacific
6.6.4. Rest of the World
Continued…
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- Outdoor Power Equipment Market Share
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