Outdoor Power Equipment Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Outdoor Power Equipment Market grew at a CAGR of 4.7% between 2017-2021 and is estimated to be US$ 27,685.4Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.1% and is expected to reach a valuation of US$ 45,527.9Mn by 2032 end.

The market for outdoor power equipment is predicted to rise due to increasing urbanization, disposable income, infrastructure development, and rising demand for landscaping services.

Additionally, as people become more aware of environmental issues, more lithium-ion batteries are being used in outdoor power equipment because they are environmentally benign and increase energy output. Many businesses are concentrating on innovation in lithium-ion batteries.

Market Dynamic

GROWING DEMAND FOR LANDSCAPING SERVICES AND INCREASING INTEREST OF HOMEOWNERS IN GARDENING ACTIVITIES

The market is primarily driven by the rising demand for landscaping services from business customers and homeowners looking to improve the aesthetic appeal of their properties.

For various landscaping tasks like lawn upkeep, hardscaping, tree care, lawn renovation, organic or natural lawn care, and snow removal, various outdoor power tools like lawn mowers, hedge trimmers, blowers, and saws are employed.

The outdoor power equipment market is driven by homeowners’ increasing propensity to spend more time engaging in outdoor and gardening activities in industrialized nations. Golf course design and maintenance also involve the usage of outdoor power equipment. As the number of golfers and golfers-to-be increases in the upcoming years, the demand for outdoor power equipment will likely increase.

HIGH MAINTENANCE COST AND AVAILABILITY OF OUTDOOR POWER EQUIPMENT ON LEASE

Lawnmowers and hedge trimmers are examples of outdoor power equipment. Many outdoor power equipment components, including motors, air, and fuel filters, need routine maintenance.

Outdoor power equipment needs to be calibrated regularly to ensure exact operations. Oiling, sharpening, changing parts, and other repairs necessary for the correct operation of tools are all included in routine maintenance. As a result, maintaining outdoor power equipment is rather expensive.

Consumers, especially those in developing nations, are unwilling to spend much money maintaining this equipment because laborers are readily accessible for less money. These maintenance and repair requirements also raise the expense of owning outdoor power equipment.

DEVELOPMENT OF SMART AND CONNECTED OUTDOOR POWER EQUIPMENT

Manufacturers prioritize providing linked equipment in response to the increased acceptance of IoT devices and the appeal of smart and connected products. The development of smart and connected gadgets results from technological advancements and the acceptance of wireless networking techniques.

Leading outdoor power equipment producers increasingly emphasize the creation of connected and smart outdoor power equipment. For instance, John Deere began providing JDLink, a digital platform that gathers real-time equipment data and communicates it to John Deere repair centers to customers at no additional cost.

Market Segments Covered in Report

By Power:

• Gasoline
• Battery Powered
• Electric Corded

By Type:

• Lawn Mower
• Walk-Behind Lawn Mowers
• Ride-on Lawn Mowers
• Robotic Lawn Mowers
• Zero-Turn Mowers
• Chainsaw
• Trimmer & Edger
• Trimmers & Brush Cutter
• Hedge Trimmers
• Walk-Behind Edgers & Trimmers
• Blowers
• Snow
• Leaf
• Tillers & Cultivators
• Snow Throwers
• Others

By End-Use:

• Residential
• Commercial/ Government

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why does lawn mowers the most extensively used outdoor power equipment in the market?

The outdoor power equipment market is expected to be dominated by the segment of lawnmowers. The rising popularity of lawn and garden maintenance tasks among residential users and the increasing need for landscaping services contribute to the rising demand for lawnmowers.

Municipalities and landscaping service companies are some more significant end consumers of lawnmowers. The popularity of turf sports like golf also drives up the demand for lawnmowers.

Why is battery powered segment increasing in demand in the anticipated period?

It is anticipated that the battery power source market will grow at a CAGR more than 6.9% during the projection period. Because they are more affordable to buy online and have cheaper delivery costs than gasoline-powered alternatives, battery-powered sources are growing in popularity.

Additionally, many online shops are modifying their inventories to comply with the latest legislative directives for creating products for electric outdoor power equipment.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The North American market held a 36.2% share of the global market. Due to North America’s bigger geographic size than its population, which results in more gardens and lawns, the regional market is expected to grow.
• Throughout the projection period, it is anticipated that the Asia Pacific market will grow at a 6.5% CAGR. The considerable growth rate of the region is a result of changing lifestyles and increased disposable income in several developing nations, like China and India.

Competition Analysis

The market is divided and is characterized by fierce competition among businesses. These businesses concentrate on product innovation, product launches, and R&D expenditures. Numerous companies prioritize producing affordable and ergonomic items as a core component of their product offers.

The recent developments in the Global Outdoor Power Equipment Market:

• In January 2022, Keo, a cordless yard saw, was introduced by Robert Bosch GmbH. Keo is one of the goods produced by the cooperation between Husqvarna Group and 18V Power for All System. The product features a strong interchangeable battery pack with replaceable saw blades for DIY applications.
• In September 2021, the MSA 300 cordless chainsaw from STIHL will be lighter and offer higher energy content. The STIHL AP 500 S battery pack is included with this, which is made for professional use in industries including forestry, landscaping, and horticulture.

A list of some of the key suppliers present in the market are:

• Husqvarna AB
• Makita Corp
• Honda Motors Co. Ltd
• Briggs & Stratton Corp.
• Andreas Stihl AG & Company KG
• MTD Holdings Inc.
• Stanley Black and Decker Inc.
• Andreas Stihl AG & Company KG
• CHERVON (China) Trading Co., Ltd
• Techtronic Industries Ltd.
• Yamabiko Corporation
• Robert Bosch
• AL-KO Kober Group
• Ariens Company
• The Toro Company
• Deere & Company

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.

• Report Includes

  Market Size Data

  • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
  • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
  • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
  • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
  • Incremental dollar opportunity generated in the forecast period would be indicated
  • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

  Market Background

  • Macroeconomic factors that impact the market developments
  • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
  • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
  • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
  • Trade analysis and analysis of key supply and demand hubs
  • Identification of hotbed opportunities existing in the market
  • Porter’s and PEST analysis to understand the business environment of the geography
  • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

  Pricing Analysis

  • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
  • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
  • Cost teardown analysis and key factors impacting pricing

  Value Chain Analysis

  • Country-wise list of raw material suppliers
    • Raw material price trends and buyers’ sentiment
    • Overview of Intelligent Sourcing Technique
    • Raw material procurement requirements
    • Vendor selection criteria
  • Country-wise list of product manufacturers
  • Country-wise list of distributors/traders
  • Country-wise list of end-users
    • End-Users/Customers consumption mapping
    • Key End-Users/Customers client list
  • Country-wise list of other key channel partners
  • Average profitability margins
  • Regional value chain dynamics

  Competition Analysis

  • Market shares and production capacities of key players
  • Tier structure analysis of market
  • Comprehensive competition dashboard representing the top 10-15 players in the market
  • Individual company profiles of top 15 to 20 manufacturers
    • Business Overview
    • Product Portfolio
    • Key Financials
    • Recent Developments
    • SWOT Analysis
    • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

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