The
global Outdoor Power Equipment Market size was valued at USD 46.53 billion
in 2021 and is expected to reach USD 76.61 billion by 2030, registering a CAGR
of 5.9% during the forecast period, according to a new report by Grand View
Research, Inc. The market growth can be credited to the increasing adoption of
outdoor power equipment, using lithium-ion batteries and cordless
outdoor power equipment.
For
instance, in September 2021, DeWalt, one of the brands of Stanley Black &
Decker, announced the launch of a 20V MAX lithium-Ion batteries system to
support a variety of outdoor power equipment. Furthermore, government and
public places need to be maintained and have an aesthetic appeal, additionally
stimulating demand for the lawn mowers. Besides, the growing perception that
gardening is a leisure activity is a critical factor in the outdoor power
equipment demand.
The
rising technological advancements in outdoor power equipment are increasing the
inclination of people toward gardening, which is expected to impact growth. For
instance, in February 2022, Makita Corporation launched two new Lawn Mowers,
XML10CT1 (21" Lawn Mower Kit) and XML11CT1 (21" Self-Propelled Lawn
Mower Kit). These two product features 36V (18V X2) LXT power batteries, which
signify their capabilities in the cordless lawn and garden market. Furthermore,
the rise in residential construction and rising demand for lawn and electric
cordless lawn & garden tools in commercial spaces, parks, and sports fields
are the factors expected to drive market growth.
Vendors'
rising adoption of ergonomic designs enables people to perform activities with
less labor and makes their tasks more manageable. It allows people to perform
their functions with much less time than non-ergonomic tools. For instance, in
November 2021, The Toro Company launched five new gas and battery-based Super
Recycler models for the lawn care market. These products are designed with an
ergonomic grip, which enables gardeners to have greater cutting convenience,
and are developed with additional safety features, to pack within a folded
handle.
A
considerable increase in the demand for do-it-yourself (DIY) equipment and
do-it-for-me (DIFM) services in the commercial and residential segment are
expected to drive market growth. The outdoor power equipment market is
seasonally affected by end-customer buying patterns, and most outdoor power
equipment is sold during the summer and spring seasons. As a result of
seasonality in the industry and short-term fluctuations in demand caused by
weather patterns, growth in the market is hindered.
Related Press Release@ Outdoor Power Equipment Market Report
Outdoor
Power Equipment Market Report Highlights
- The battery
power source segment is estimated to expand at a CAGR of 6.9% during the
forecast period. The battery-powered source segment is expanding owing to
its speed, longer running time, technological innovation, and does not
emit gas fumes &noise, which is expected to drive the segment growth.
For instance, Makita Corporation launched three new lawn mowers, 18V X2
LXT (36V) Brushless Cordless Lawn Mowers (XML06, XML07, XML08), powered by
two batteries of 18V, which are expected to revolutionize the work done
without emissions and noise. In addition, regulations around the use of
Li-ion battery products support the growth of battery-powered and cordless
products
- The North
American market accounted for 34.91% share of the overall market in 2021.
The regional market's growth is attributed to the strong presence of
various regional companies, including Makita Corp, the toro company, and
more. Furthermore, an increasing preference for outdoor living areas and a
vast number of athletic fields is expected to drive the growth of outdoor
power equipment in the region. Investment by the government in
infrastructure is also expected to drive the region's development
- The chainsaw
segment is estimated to grow at a CAGR of 7.2% during the forecast period.
The rising demand for technological development and rapid
industrialization among various economies is expected to drive the market
for the chainsaw segment. Furthermore, the increasing adoption of wood in
the application of commercial construction, including wall & roof
designing and flooring, is expected to create massive demand for the
chainsaw segment
- The market is
fragmented and characterized by high competition with companies such as
Husqvarna AB, Makita Corp, Honda Motors Co. Ltd, and Techtronic Industries
Ltd, among others. These companies focus on capacity expansion, heavy
production investments, and product launches. In the coming years, this
trend is expected to continue and accelerate the growth of the market for
outdoor power equipment. Furthermore, demand for the construction and
furniture sectors is driving the growth of outdoor power equipment
Outdoor
Power Equipment Market Segmentation
Grand
View Research has segmented the global outdoor power equipment market based on
the power source, end-use, equipment, and region:
Outdoor
Power Equipment Power Source Outlook (Revenue, USD Million, 2018 - 2030)
- Gasoline
- Battery
- Electric
Corded
Outdoor
Power Equipment End-Use Outlook (Revenue, USD Million, 2018 - 2030)
- Residential
- Commercial/Government
Outdoor
Power Equipment Type Outlook (Revenue, USD Million; Volume, Thousand
Units, 2018 - 2030)
- 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
Outdoor
Power Equipment Regional Outlook (Revenue, USD Million; Volume, Thousand Units,
2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Netherland
- Denmark
- Finland
- Spain
- Russia
- Rest of
Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Australia
- Rest of Asia
Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of
Latin America
- Middle East
& Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of
Middle East & Africa
List
of Key Players in Outdoor Power Equipment Market
- 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
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment