New York, United States, March 12, 2024 (GLOBE NEWSWIRE) -- The Global Outdoor Power Equipment Market Size is to Grow from USD 30.67 Billion in 2023 to USD 42.34 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.28% during the projected period.
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The equipment that is specially used in outdoor services is called outdoor power equipment outdoor power equipment often includes chainsaws, power rakes, brush cutters, edgers, and other tools. Outdoor power equipment has a variety of applications in both the home and commercial sectors. Outdoor power equipment is commonly used by end users who offer commercial services, such as lawn and plant care companies. The final users of outdoor power equipment for residential purposes are do-it-yourselfers and homeowners. Furthermore, the technological advancement in the product businesses is making use of the equipment's battery power to improve employee productivity and customer comfort. Additionally, Techtronic plans to use red lithium-ion batteries for its cordless power tools in 2021 because they are anticipated to last longer and function more quickly. During the projected period, the market would rise at a faster rate due to factors like rising urbanization, disposable income, and increased demand for the factors. However, high maintenance expenses remain one of the industry's most significant concerns. For accurate operation, outdoor power equipment needs to be inspected regularly. Checking for broken switches, oiling, sharpening, and other maintenance that's required to keep the equipment in good working order should all be included in routine inspections. The significant maintenance costs associated with outdoor power equipment will likely impede market expansion.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Outdoor Power Equipment Market Size, Share, and COVID-19 Impact Analysis, By Type (Lawn Mowers, Saws, Trimmers & Edgers, Blowers, Snow Throwers, Tillers & Cultivators, Others), By Fuel (Gasoline Powered, Battery Powered, Electric Motor/Corded), By Functionality (Connected/Smart, Conventional), By Applications (Commercial, Residential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The lawn mowers segment dominates the market with the largest revenue share over the anticipation period.
Based on type, the global outdoor power equipment market is segmented into lawn mowers, saws, trimmers & edgers, blowers, snow throwers, tillers & cultivators, and others. Among these, the lawn mowers segment is dominating the market with the largest revenue share over the anticipation period. The increasing urbanization with these residential users is taking an interest in maintaining gardens and rising landscaping services such factors are fuelling the market growth in the anticipation timeframe.
The battery-powered segment is witnessing significant CAGR growth over the projection timeframe.
Based on fuel, the global outdoor power equipment market is segmented into gasoline-powered, battery powered, and electric motor/corded. Among these, the battery-powered segment is witnessing significant growth over the projection timeframe. The battery powered has Beneficial for our environment because it will help to reduce carbon emissions. Also, it is lighter than petrol.
The connected/smart segment is expected to hold the largest share of the global outdoor power equipment market during the predicted timeframe.
Based on the functionality, the global outdoor power equipment market is classified into connected/smart, and conventional. Among these, the connected/smart segment is expected to hold the largest share of the outdoor power equipment market during the predicted timeframe. To create long-term value for the customers manufacturers are focusing on the new technological opportunities to reduce the cost of these devices that are linked with smart products.
The residential segment accounted for the largest revenue share over the anticipation timeframe.
Based on application, the global outdoor power equipment market is segmented into commercial, and residential. Among these, the residential segment dominates the market with the largest revenue share over the anticipation timeframe. The people are taking an interest in the gardening of the farms. In the gardens cultivating the plants and the some frequently used plants for foliage, flowers and aesthetic appeal and for doing all these processes garden needs power equipment such as rotary tillers, and hedge trimmers. Leaf blowers and lawn edgers.
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North America dominates the market with the largest market share over the anticipation timeframe.
North America is dominating the market with the largest market share over the anticipation timeframe. In the United States consumers are influenced by new technology devices. The major manufacturing companies are focusing on the consumer demand for devices such as lead blowers, lawnmowers and chainsaws. For instance, Ryobi is a leading manufacturer of outdoor equipment and power tools and they have expanded their range of products such as new 80V lawn tractors.
Asia Pacific is expected to grow the fastest during the anticipation timeframe. The increasing Urbanization of residential, as well as commercial buildings, is also increasing. In Asia Pacific Japan, China and India have emerged technology in the developing nations. With the ensuing deforestation, companies support the electric equipment in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global outdoor power equipment market are Kaercher, Yamabiko Manufactures, Bosch, Honda, Cub Cadet, Troy Blit LLC, Husqvarna Group, MTD Products, Makita Group, Vb Emak, Techtronic Industries, Maruyama U.S., Stanley Black & Decker, Toro Company, Hikoki, Deere, Jonsered, and others.
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Recent Developments
- In January 2023, The Husqvarna Group has announced the launch of a two-year warranty program that is intended to offer commercial turf and tree care professionals advanced protection for their equipment.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Outdoor Power Equipment market based on the below-mentioned segments:
Outdoor Power Equipment Market, Type Analysis
- Lawn Mowers
- Saws
- Trimmers & Edgers
- Blowers
- Snow Throwers
- Tillers & Cultivators
- Others
Outdoor Power Equipment Market, Fuel Analysis
- Gasoline Powered
- Battery Powered
- Electric Motor/Corded
Outdoor Power Equipment Market, Functionality Analysis
- Connected/Smart
- Conventional
Outdoor Power Equipment Market, Application Analysis
- Commercial
- Residential
Outdoor Power Equipment Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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