Press release
Outdoor Power Equipment Market Worth US$ 34.11 Billion By 2027| Ariens Company, Deere & Company, Husqvarna AB, Honda Motor Co Ltd, The Toro Company, YAMABIKO Corporation
Outdoor Power Equipment Market 2020
The global outdoor power equipment market accounted for US$ 25.55 billion in 2019 and is expected to grow at a CAGR of 3.8% during 2020-2027 to reach US$ 34.11 billion by 2027.
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The List of Companies - Outdoor Power Equipment Market
1. ANDREAS STIHL AG & Co. KG
2. Ariens Company
3. Deere & Company
4. Honda Motor Co., Ltd.
5. Husqvarna AB
6. MTD Products Inc.
7. STIGA S.p.A.
8. Techtronic Industries Co. Ltd.
9. The Toro Company
10. YAMABIKO Corporation
The demand for landscaping services is increasing owing to factors such as rising urbanization, infrastructure development, high disposable incomes, and presence of large commercial spaces. On the contrary, due to high maintenance costs of equipment that are used for heavy applications may restrain the growth of outdoor power equipment market. The growing traction of robotic lawn mowers among end users and demand for connected equipment will boost the outdoor power equipment market growth during the forecast period.
Globally, the outdoor power equipment market is experiencing an intense growth with regard to continuous infrastructural developments taking place across the globe. In addition, the growing investments in infrastructure and construction industry is fueling the demand for these equipment in the commercial sector. The increasing focus on sustainable environmental growth, rising construction industry, and growing number of electric-powered equipment are among the key driving factors for the growth of the global outdoor power equipment market. North America held the largest share of the outdoor power equipment market in 2019 and is expected to continue its dominance during the forecast period of 2020-2027. Europe and APAC held the second and third position, respectively, in the global outdoor power equipment market in 2019.
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The overall outdoor power equipment market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the outdoor power equipment market. It also provides the overview and forecast for the global outdoor power equipment market based on all the segmentation provided concerning five primary regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in outdoor power equipment.
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