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Outdoor Power Equipment Market

Outdoor Power Equipment Market

Outdoor Power Equipment Market Analysis by Equipment (Lawn Care, Trimmer, Leaf blower, Snow Blower), by Capability (Self-Propelled Mower, Riding Lawn Mower), by Fuel Type (Diesel based, Electric, Battery), by Price Range, by Sales Channel, by End-Use & Regional Forecast 2022-2032

Outdoor Power Equipment Market
FACT1414MR
  • Feb-2022
  • List of Tables : 106
  • List of Figures : 175
  • 170 Pages
  • Industrial Goods

Global Outdoor Power Market Outlook

The global outdoor power equipment market is estimated at USD 44.8 Billion in 2022 and is forecast to surpass USD 63.3 Billion by 2032, growing at a CAGR of 3.9% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 43.2 Billion

Estimated Year Value (2022E)

USD 44.8 Billion

Projected Year Value (2032F)

USD 63.3 Billion

Global Growth Rate (2022-2032)

 CAGR 3.9%

North America Market Share in 2022

~47.8%

North America Market Growth Rate (2022-2032)

CAGR 4.2%

Collective Value Share (USA, China,  Germany and India) 2022: Top 4 Countries

~63%

Top 5 Companies Market Share in 2022

~29%

Key Companies Profiled

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

The market is being driven by rising usage of battery-powered outdoor power equipment for lawn maintenance and gardening activities. Rising demand for landscaping services, and rising interest among homeowners in gardening activities is likely to boost the sales of outdoor power equipment during the forecasted year.

The global outdoor power equipment market has shown a growth rate of 2.7% CAGR in the last-half decade and reached USD 43.2 Billion in 2021. The market has generated an absolute dollar opportunity of around USD 5.3 Billion in the same time frame.

The globe is progressing toward more environmentally friendly technologies. People are shifting to greener energy sources to minimize carbon emissions and improve environmental safety.

However, gardeners have recently become aware of the different advantages of electric lawnmowers over their conventional equivalents or gas-powered equipment, which generate nearly 5-6% of total hydrocarbons in the atmosphere in metropolitan areas.

Global outdoor power maintenance equipment market is having nearly 37.9% penetration in global outdoor power equipment market followed by lawn care equipment market with 26.8% Market share.

However, tree care equipment market is projected to generate absolute dollar opportunity of USD 6 billion between 2022 & 2032. Trimmer’s equipment market is holding more than one-tenth market share in global outdoor power equipment market.

The market's expansion is projected to be hampered by high maintenance costs and the availability of outdoor power equipment for leasing. Manufacturers with a focus on smart and connected outdoor power equipment have various options on the market.

Furthermore, the outdoor power equipment market is likely to grow at the rate of 3.9% CAGR and reach the valuation of USD 63.2 Billion by the end of 2032. It is projected to offer an absolute dollar opportunity of nearly USD 20 Billion between 2022 & 2032.

Moreover, the North American outdoor power equipment market is the largest market shareholder which is acquiring nearly half of the global outdoor power equipment sales. Europe is the second-largest market shareholder which is likely to grow at the rate of 3.8% CAGR amid the forecasted period. Besides, maintenance, an equipment segment, is the largest segment which is holding more than 1/3rd market share and is likely to grow at the rate of 3.8% CAGR during the projected years.

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Revenue of Outdoor Power Equipment Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

The market for outdoor power equipment is mature, and its growth is mostly influenced by variables such as population and age distribution, consumer spending, housing and other constructions, location, and recreational and leisure activities.

In addition, technology, price trends, environmental and regulatory challenges, and trade activities all play a part, although more so for producers than for consumers. Finally, marketing strategies and methods of distribution have an impact.

However, Robotics and battery technology are set to play a significant role in the future of this industry. The operational costs of battery-powered (i.e. cleaner) equipment are cheaper than those of natural gas-powered devices.

Moreover, Battery-powered equipment will promote sales of big equipment like lawnmowers in both the commercial and domestic sectors. With their lower prices, simplicity of use, and technical advancements, robotic lawnmowers are expected to become more popular in the future years.

How Revival of Construction Industry will boost the Demand for Outdoor Power Equipment?

The worldwide construction sector had a massive crisis from 2007 to 2009, causing property prices to fall and residential buildings to come at a standstill. In recent years, the building industry has exhibited signs of improvement. The number of homes has a direct influence on outdoor power equipment sales.

According to Oxford Economics, the construction developing market would more than double in size over the next decade, expanding by exponential growth rate and reach to a USD 7 trillion market in the short term, accounting for a large share of 17.2% of GDP.

The Asia Pacific region will have the most rapid development in developing markets such as India, Malaysia etc., with a projected annual growth rate of 4.1% CAGR over the next decade. Given the region's rapid population expansion, this is not surprising. Over the next decade, India and China are predicted to have the fastest building growth rates.

An Adaptive Approach to Modern-day Research Needs

How changing Trends in Infrastructure is driving the Demand for Outdoor Power Equipment?

The changing trends in infrastructure are expected to increase the demand for outdoor power equipment. Consumers will be gradually eager to spend their income on durable goods as cities grow, with recreational activities such as golf and landscaping services helping to boost demand for commercial and residential outdoor power equipment.

Moreover, changing infrastructure designs have resulted in the creation of creative and unconventional home décor that takes up less space. The emphasis is shifting toward small and environmentally friendly living.

Builders and architects are capitalizing on opportunities created by trends such as green and sustainable homes. These trends may be seen in garden restaurants, homes with patio gardens, and tiny gardens with lawnmowers, trimmers, and other lawn care equipment.

How Increasing Demand for Green Products will Support the Growth of Outdoor Power Products?

Air pollution caused more than four million fatalities in 2015, with India and China accounting for half of those deaths. As a result, strict rules and regulations have been imposed to reduce the negative impacts of emissions on the environment.

For example, the Paris Climate Agreement was launched, with 148 nations signing on to cut emissions in their particular areas. With this issue in mind, it's more important than ever for people to choose environmentally friendly alternatives, which has affected the adoption of electric lawnmowers throughout the projection period.

Furthermore, despite their high initial cost, reduced fuel usage compensates for the high initial cost of electric lawnmowers, making them a one-time lawn mowing investment.

However, with stronger emission standards and more environmentally conscious consumers, there has been a noticeable shift toward electric and battery-powered equipment. The use of battery or electric technology reduces the equipment's operational costs and weight.

Consumer preferences have also been seen to prefer quality above price reductions. Many manufacturers and dealers believe that stockpiling up on low-cost merchandise has proven ineffective.

The majority of the equipment in today's huge boxes is obsolete. They are so inexpensive that customers do not expect them to be repaired. It's possible that the large box stores won't have the necessary components on hand to repair them.

However, a high-quality product also increases the chances of future sales. Customers will return for maintenance and repair if a manufacturer/dealer creates solid customer connections from the start.

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Country-wise Analysis:

How Much Share does United States has in Global Outdoor Power Equipment Market?

North America outdoor power equipment market is the largest revenue generator, followed by Europe and the Asia Pacific. North America outdoor power equipment market accounted for more than two-fifths of the global outdoor power equipment market in 2021.

In the United States alone, there are over 50 firms and acquiring more than one-third market shares in the region. As a result, the competition is fierce. With rising competition and increased product innovation and differences among producers, rivalry among rivals is intensifying.

What are the Growth Prospects of Japan & China Outdoor Power Equipment Market?

During the forecast period, the outdoor power equipment market in East Asia is predicted to develop at the fastest rate. Increased investment in the infrastructure and residential industries is predicted to enhance the construction industry, which will promote the usage of outdoor power equipment in the region.

However, Honda, Kawasaki, Fuji Heavy Industries, Yamabiko, and Yamaha are just a few of the outdoor power equipment and small gas engine manufacturers based in Japan.

China is making significant investments in infrastructure development and urban planning. The construction industry's investment is the market's primary growth engine.

With China's growing urbanization, the need for outdoor power equipment to support the construction sector for various urban development projects has increased significantly.

Outdoor Power Equipment Market forecast analysis by Fact.MR

Category-wise Analysis:

What are the Growth Prospects for Outdoor Electric-Powered Equipment?

Professionals and DIY (do-it-yourself) are the primary users of electric-powered equipment. The majority of this equipment is used for domestic gardening by homeowners or do-it-yourself (DIY) users.

However, the key element driving the increased usage of electric outdoor power equipment is advancements in battery technology, such as the development of powerful batteries that can last longer once charged.

Furthermore, due to the increased interest of customers in cordless outdoor power equipment, manufacturers are focusing more on developing unique items and placing them on the market.

How Commercial Application of Outdoor Power Equipment will Generate High Revenue?

Commercial and residential uses are both served by outdoor power equipment. Commercial end-users, such as landscaping service providers and lawn and tree care companies, employ outdoor power equipment. Homeowners and DIY enthusiasts are examples of residential end-users.

Further, the DIY application/residential segment now dominates the market. However, the commercial application category is predicted to rise rapidly during the estimated years.

The expansion of the outdoor power equipment market for commercial applications is being fueled by rising home prices and increased gardening activities in the United States. Moreover, fuel-powered equipment dominates the commercial application category. Nevertheless, manufacturers are producing battery-powered equipment for commercial uses.

How Battery Powered Equipment are Batter then other Fuel Types?

When battery-powered equipment compared with gas-powered devices, it is significantly cleaner and has reduced running expenses. Battery-powered equipment will promote sales of bigger equipment, particularly lawn mowers, in both the home and commercial sectors.

Demand for robotic lawnmowers is likely to increase in the coming years owing to their ease of use, dropping prices, and improving technology. It is anticipated to grow with a CAGR of nearly 3.4% amid 2022 & 2032.

Competitive Analysis:

Market players are investing in R&D to increase their product line and geographic reach. Key players are keen to collaborate with new entrants to gain a competitive edge.

The seven to ten companies have about one-fourth of the total market share and are projected to expand operations in fast-evolving regions such as India, China etc. to lower the production costs and other costs.

Fact.MR has provided detailed information about price points of top manufacturers of outdoor power equipment market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • On 8th June 2021, Honda Motors Co. Ltd. has launched Honda eGX, an electrified power unit. The Honda eGX is the world's first battery-powered motor, engineered to be integrated into OEM power equipments for both indoor and outdoor use.
  • On 14th December 2021, Deere & Company have entered into an agreement to acquire majority of the shares of Kreisel Electric, Inc., a battery technology developer based in Austria.

Global Outdoor Power Equipment Market Report Scope

  • By Equipment :-

    • Outdoor Power Equipment for Lawn Care
    • Outdoor Power Equipment for Trimmer
    • Outdoor Power Equipment for Tree Care
    • Outdoor Power Equipment for Leaf blower
    • Outdoor Power Equipment for  Snow Blower
    • Outdoor Power Equipment for Maintenance
    • Outdoor Power Equipment for HLE (Heavy Landscaping Equipment)
  • By Capability :-

    • Self-Propelled Mower
    • Riding Lawn Mower
    • Automatic Lawn Mower
    • Push Lawn Mower
    • Others
  • By Fuel Type :-

    • Diesel based Outdoor Power Equipment
    • Electric Outdoor Power Equipment
    • Battery Outdoor Power Equipment
  • By Price Range ($) :-

    • 0-100 dollar Outdoor Power Equipment
    • 100-400 dollar Outdoor Power Equipment
    • 400 & Above
  • By Sales Channel :-

    • Outdoor Power Equipment sales through Retail
    • Outdoor Power Equipment sales through Distributor
    • Outdoor Power Equipment sales through Online
  • By End-Use :-

    • Outdoor Power Equipment for Residential use
    • Outdoor Power Equipment for Commercial use
    • Outdoor Power Equipment for Public Places
  • By Region :-

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa (MEA)

- FAQs -

Global Outdoor Power Equipment market is likely to witness growth rate of nearly 3.9% CAGR during the forecasted years.
Global Outdoor Power Equipment market anticipated to offer absolute dollar opportunity or nearly USD 20 Billion.
Global Outdoor Power Equipment Market is likely to be valued around USD 63.2 Billion by 2032.
Maintenance, sub-segment, is holding nearly two-fifth market shares in the market.
North America is the leading region which is acquiring more than two-fifth market shares and likely to grow at the rate of 4.2% CAGR.
Battery fuel type is generating significant revenue with the growth rate of 3.4% CAGR.
Europe is the second largest market shareholder which is likely to grow at the rate of 3.8% CAGR during 2022 & 2032.
Ariens Company, The Toro Company, Andreas Stihl AG & Company KG, Deere & Company, Honda Motors Co. Ltd, Briggs & Stratton Corp., MTD Holdings Inc. etc. are the leading companies which are acquiring significant market share in the market.
Indian outdoor power equipment market is the fastest evolving market which is likely to offer noteworthy growth prospects amid 2022 & 2032.

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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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