Outdoor Power Equipment Market to Enjoy 'Explosive Growth' To 2027 | CAGR: 3.8%

According to the new research report published by The Insight Partners, titled "Outdoor Power Equipment Market -- Global Analysis and Forecast to 2027", the global outdoor power equipment market is expected to reach US$ 34.11 Bn in 2027, registering a CAGR of 3.8% during the forecast period 2020-2027.

The demand for innovative solutions to tackle adverse climatic conditions and environmental pollution is growing at a fast pace across the world. The urbanization is also increasing at an unprecedented rate, which is negatively impacting the environment. Hence, to mitigate the effects of growing urbanization and associated deforestation, the trend of green infrastructure is gaining traction among companies and consumers. Sustainable landscaping is a popular trend nowadays owing to the usage of environment-friendly resources and methods. In addition, the growth of global infrastructure, construction, and urban development industry is further fuelling the demand for outdoor power equipment for lawn and landscaping applications.

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Within the Outdoor Power Equipment market, various regions are observed to exhibit different growth trends. North America hold the largest share of the total Outdoor Power Equipment market. While the regions such as Europe and APAC are expected to exhibit high growth along with the increasing growth in industrial and Electronics and Semiconductor sector.

The Major Manufacturers Covered In This Report:
o AriensCo
o Deere & Company
o Honda Motor Co Ltd
o Husqvarna AB
o MTD Products Inc.
o Stanley Black & Decker, Inc.
o STIHL Inc.
o Techtronic Industries Co. Ltd.
o Toro Co
o Yamabiko Corporation

The reports cover key market developments in the Outdoor Power Equipment as organic and inorganic growth strategies. Various companies focus on organic growth strategies such as product launches, product approvals and others such as patents and events. The inorganic growth strategy activities observed in the market were acquisitions, partnerships and collaborations. These activities paved the way for an expansion of the businesses and customers of the market players. The market payers of the Outdoor Power Equipment are destined for lucrative growth opportunities in the future with the increasing demand for market Outdoor Power Equipment in the world market.

The use of outdoor power equipment in APAC region will grow at an impressive rate. The region is comprise several developing economies such as China, India, and various Southeast Asian countries. The positive economic outlook, rising disposable incomes, and growing population are among the factors that are driving the demand for infrastructure projects. In addition, rising adoption of advanced technologies and increasing number of connected devices are among the key factors that are anticipated to fuel the growth of the outdoor power equipment market in APAC.

The global outdoor power equipment market is anticipated to witness impressive growth during the forecast period. In developing countries such as China and India, the construction industry has a huge potential for growth owing to rising disposable incomes, favorable government initiatives, and high rate of economic development. During the forecast period of 2019 to 2027, electric-powered is expected to be the fastest growing source type of outdoor power equipment worldwide. On the other hand, lawn mowers in 2019 led the outdoor power equipment market, whereas chainsaws is expected to be the fastest-growing equipment type during the forecast period 2019-2027 growing at a high CAGR value.

Outdoor Power Equipment Market Segment by Regions, Regional analysis covers: Americas, United States, Canada, Mexico, Brazil, APAC, China, Japan, Korea, Southeast Asia, India, Australia, Europe, Germany, France, UK, Italy, Russia, Spain, Middle East & Africa, Egypt, South Africa, Israel, Turkey, GCC Countries.

The Research Provides Answers To The Following Key Questions:
o What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
o What are the key driving forces responsible for shaping the fate of the Outdoor Power Equipment market during the forecast period?
o Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Outdoor Power Equipment market?
o What are the prominent market trends influencing the development of the Outdoor Power Equipment market across different regions?
o What are the major threats and challenges likely to act as a barrier in the growth of the Outdoor Power Equipment market?
o What are the major opportunities the market leaders can rely on to gain success and profitability?

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This release was published on openPR.