Outdoor Power Equipment Market Research, 2031
The global outdoor power equipment market size was valued at $24.4 billion in 2021, and outdoor power equipment industry is projected to reach $41.1 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
The outdoor power equipment market is segmented into Type, Power Source, Application and Functionality.
Outdoor power equipment uses compact engines or small motors for functioning. If the equipment is used specifically for outdoor services, then it is referred to as outdoor power equipment. The outdoor power equipment generally includes, brush cutters, edgers, 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 outdoor power equipment market is experiencing a shift toward advanced and innovative equipment. The prominent example is the robotic lawn mower. The demand for alternative sources of power and more optimized equipment is rising gradually. Currently, electric lawn mowers and robotic outdoor power equipment are widely used in the market. While the robotic lawn mowers are still at the establishing stage, electric lawn mowers have proved to be cost-efficient and provide the required torque for landscaping activities. Manufacturing companies are focusing on developing fully and semi-automatic lawn equipment for both, commercial and residential customers.
The rising demand for quality outdoor power equipment is expected to fuel the market growth in the next few years. Moreover, the growth in the construction industry can be accountable for the growth of the outdoor power equipment market. The immense construction activities in these emerging nations striving to build smart cities that can attract tourists are likely to improve the demand for outdoor power equipment in the market.
The outdoor power equipment market forecast is segmented on the basis of type, power source, functionality, application, and region. On the basis of type, it is segmented into lawn mowers, saws, trimmers & edgers, blowers, snow throwers, tillers & cultivators, and others. On the basis of power source, the market is bifurcated into fuel powered and electric powered. On the basis of functionality, it is segmented into connected/smart and conventional. In addition, on the basis of application, the market is segmented into residential and commercial.
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.
The major companies profiled in this report include, McLane, American Lawn Mower, Husqvarna, MTD, Oregon, Snow Joe, Briggs & Stratton, TTI, Craftsman, Worx, Bosch, Honda, Cub Cadet, Troy Blit LLC, Champion Power Equipment, Kipor Power, and The Toro Company. Rise in investment among the major market players to develop highly efficient equipment has fuelled the outdoor power equipment market growth. Additional growth strategies, such as expansion of production capacities, acquisition, partnership, and research & innovation in the solar energy application, led to attain key developments in the global outdoor power equipment market trends.
The lawn mower segment dominates the global outdoor power equipment market. Lawnmower is a machine utilizing one or more revolving blades to cut a grass surface to an even height. Most common self-contained power source for lawnmowers is a small internal combustion engine. Smaller lawnmowers often lack any form of propulsion and require human power to move over the surface to guide them. Lawnmowers are widely used globally for chopping, trimming or mowing grass patches, fields, lawns, and gardens to ensure that the grass is well groomed and grows at an even, appropriate height. 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 investment among the individuals in personal dwelling place with garden has boosted the growth of the market. The presence of above mentioned factors is expected to provide ample opportunities for the development of the market.
The fuel powered segment dominates the global outdoor power equipment market share in 2021. Fuel-powered tools are usually operated with gasoline; examples of such tools include, chain saws, lawn mowers, concrete saws, and brush cutters. Increase in demand for power equipment in the gardening and landscaping industry has driven the market growth. The presence of renewable fuel gas resources, such as ethanol fuel and other bio fuels has driven the demand for the outdoor power equipment. Furthermore, rapid innovations in the improvement of efficiency of fuel powered equipment’s have positive impact on the development of the market. The presence of above mentioned advantages are expected to drive the growth of the market.
The residential segment dominates the global outdoor power equipment market. Outdoor power equipment are widely used in the residential sector for gardening purpose. Gardening is the practice of growing and cultivating plants as a part of horticulture. In gardens, ornamental plants are often grown for their flowers, foliage, or overall appearance. Gardening requires tools such as lawnmower, rotary tiller, string trimmers, hedge trimmer, leaf blower, and lawn edgers, which are powered by gasoline or electric motor. The development and interest of people towards horticulture and other kinds of gardening have stimulated the growth of the outdoor power equipment market. The presence of environmental benefits, such as plants can absorb any chemicals, bacteria, or harmful elements floating on the breeze has led to increase in interest among the people towards gardening. It also provides a medium to turn the harmful elements into useful waste products, such as oxygen and water. Plant roots can take in any errant chemicals or heavy metals that might be lurking in the soil. The presence of these advantages and increasing awareness among the people regarding the benefits brought through gardening led to the investment of gardening area in residential building areas. The presence of the above mentioned advantages for residential building through gardening will provide ample opportunities for the development of the market.
The conventional segment dominates the global outdoor power equipment market. Conventional outdoor power equipment are the power tools, which are used in the gardening and construction industry. These power tools are mostly powered by the gasoline or are powered through electricity through long wire cable. This conventional outdoor power equipment is widely used for some landscaping or spruce up garden. The ban over the gas fired equipment in most of the developed and developing countries is expected to have a negative impact on the development of the market in the coming years. The growing interest among people towards gardening and beautifying the residential areas has driven the growth of the outdoor power equipment market. Increase in awareness among the people regarding global warming and the advantages of the gardening over the environment and society have a positive impact on the development of the market.
North America is analyzed across the U.S., Canada, and Mexico. A significant portion of market share is held by the U.S., followed by Canada and Mexico. As per the U.S. government regulations, community garden plots are also considered as an important part of society and thus, the use of gardening tools favor the outdoor power equipment market. The presence of snow during the winter season has also created the demand for snow blower, thus, leading to increase in demand for outdoor power equipment. Rise in urbanization and consumers willing to spend their expendable earning on recreational activities, such as golf and landscaping services, lead to a positive impact on the sales of small engines in commercial and residential applications. Initiatives taken by the government in infrastructural developments are enabling huge volumes of construction activities undertaken mainly in the urban areas of the countries. The growth in the construction industry is primarily driven by continuous investments by the private sector in residential and commercial building projects. Furthermore, individual houses with lawn or garden areas in the U.S. play a significant role in bolstering the use of different outdoor power equipment. The increase in demand for lawn among Americans is rising, owing to the increase in the construction of individual houses. Therefore, increasing construction and growing popularity of DIY are increasing the demand for outdoor equipment in North America. The above mentioned initiatives are major factor driving the growth of the market in this region during the forecast period.
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The novel coronavirus has affected several economies and caused lockdown in many countries, which has limited the growth of the market. The shutdown of industrial manufacturing led to the decline in demand for gas related equipment in most of the countries globally, which led to decline in demand for outdoor power equipment. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.
In the post-pandemic period, a surge in demand for outdoor power equipment has been witnessed with the resumption of operations in various industries. The COVID-19 pandemic has substantially impacted the value chain of the outdoor power equipment market; however, there has been a consistent revival of the value chain, leading to steady market growth. The U.S., China, and Germany accounted for significant shares of the market in 2021. Considerable increase in demand for maintenance of public and private spaces from commercial and residential/DIY application segments is driving the market growth in the post-pandemic period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the outdoor power equipment market analysis from 2021 to 2031 to identify the prevailing outdoor power equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the outdoor power equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global outdoor power equipment market trends, key players, market segments, application areas, and market growth strategies.
Outdoor Power Equipment Market Report Highlights
By Power Source
Key Market Players
Troy Blit LLC, Honda, Oregon, TTI, Toro Company, Worx, Craftsman, Bosch Ltd, McLane, Briggs & Stratton Corporation, MTD, Cub Cadet, Husqvarna, Snow Joe, Earthwise
The global outdoor power equipment market is expected to witness increase in demand during the forecast period, due to rapidly growing awareness among the people regarding the advantages of green energy and high efficiency conversion of outdoor power equipment panel.
The growing interest among individuals towards gardening and horticulture has positive impact on the development of the market. The rapidly growing investment of people towards gardening has led to rise in demand for gardening tools, such as lawnmowers, edgers, trimmers, tillers, and others. The increase in consciousness among the people regarding garden area appearance and wellness is boosting the development of the outdoor power equipment market.
The outdoor power equipment market is growing rapidly due to several advantages that have made it competitive as compared other conventional equipment. The presence of key characteristics, such as increase in the investment of the major manufacturers to apply new technology, such as wireless charging, battery technology, and utilization of internet connectivity for outdoor equipment is driving the market growth.
Increase in demand for electricity-based power tools for residential and commercial applications in various sectors is another major market driver. As electricity has become one of the cheapest sources of energy globally, key market players are coming up with latest advanced technology modules, focusing on work efficiency, cost, and design of the outdoor power equipment. The major factor hindering the growth of the market is its huge maintenance cost.