Global Outdoor Power Equipment Market
Global Outdoor Power Equipment Market Size Set to Grow at Significant CAGR of 5.67% to Reach USD 48.16 Billion by 2029
Published | 14 November 2023
Global outdoor power equipment market is flourishing due to an increasing demand for landscaping and gardening activities, growth in the construction and real estate sectors, a rising emphasis on lawn maintenance, and technological advancements in equipment design and efficiency.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global outdoor power equipment market size at USD 34.59 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global outdoor power equipment market size to grow at a significant CAGR of 5.67% reaching a value of USD 48.16 billion by 2029. The global outdoor power equipment market is influenced by several key driving factors, including the growing demand for landscaping and gardening services, the expansion of the construction and real estate sectors, and a rising emphasis on lawn maintenance and aesthetics. Also, the adoption of electric and eco-friendly power equipment, driven by environmental concerns, is a notable factor. Technological advancements, such as smart outdoor power equipment, also contribute to market growth. Further, the increased disposable income and urbanization in emerging economies play a role in boosting the market as consumers seek efficient and convenient tools for outdoor maintenance and landscaping.
Outdoor Power Equipment – Overview
Outdoor power equipment refers to a wide range of machines and tools designed for use in outdoor settings, typically in landscaping, gardening, and yard maintenance. This category includes lawn mowers, chainsaws, leaf blowers, hedge trimmers, snow blowers, and more. These devices are powered by various sources, including gasoline engines, electric motors, and even battery-operated systems. Outdoor power equipment plays a crucial role in simplifying and expediting outdoor tasks, helping homeowners and professionals efficiently maintain lawns, gardens, and landscapes. Safety and proper maintenance are essential when using such equipment to ensure effective and safe operation.
Impact of COVID-19 on Global Outdoor Power Equipment Market
Global outdoor power equipment market felt the reverberations of COVID-19 pandemic, as lockdowns and economic uncertainty led to a dip in demand. With restrictions affecting production and distribution, the industry faced supply chain challenges. The closure of retail stores and reduced consumer spending further hampered sales. However, as people turned to home improvement projects during lockdowns, there was a surge in residential equipment sales. Remote work and outdoor activities also drove a shift towards battery-powered, quieter, and eco-friendly options. While recovery was underway, the market's dynamics evolved to accommodate a changing consumer landscape, emphasizing innovation and sustainability.
Global Outdoor Power Equipment Market – By Power Source
By power source, global outdoor power equipment market is split into Fuel Power and Electric Powder segments. The fuel power segment is a larger power source in the global outdoor power equipment market. The segment encompasses various outdoor equipment powered by traditional fuels such as gasoline or diesel. It includes a wide range of products like lawnmowers, chainsaws, and leaf blowers, catering to users who prefer the convenience of fuel-powered machinery. In contrast, the "Electric Power" segment offers eco-friendly alternatives with electric-powered equipment. Despite the growing popularity of electric options due to environmental concerns, the "Fuel Power" segment continues to dominate, reflecting a strong market demand for its performance and versatility.
Global outdoor power equipment market is fiercely competitive. Major companies in the market include Briggs & Stratton, Deere & Company, HONDA, Husqvarna, Makita, Robert Bosch, Stanley Black & Decker, STIHL Group, Techtronic Industries., The Toro Company, MTD, Craftsman, EMAK, Blount, and McLane. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the global outdoor power equipment market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Outdoor Power Equipment Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in the Global Outdoor Power Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Outdoor Power Equipment Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Type (Lawn Mowers, Saws, Trimmers & Edgers, Blowers, Snow Throwers, Tillers & Cultivators); By Power Source (Fuel Powder, Electric Powder); By Application (Residential/DIY, Commercial); By Functionality (Connected/Smart, Conventional); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: November 2023
Increasing demand for lawn and garden maintenance, urbanization, a growing emphasis on landscaping, and technological advancements in equipment like lawnmowers, leaf blowers, and trimmers, environmental concerns, and a preference for electric and battery-powered options contribute to the growth of Global Outdoor Power Equipment Market during the forecast period between 2023 and 2029.
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