Outdoor Power Equipment Market Share, Size & Industry Growth Report, 2020-2027

Growth opportunities in the Outdoor Power Equipment market look promising over the next six years. This is mainly because of the rising consumer spending on durable goods, along with the increasing emphasis of homeowners to beautify their gardens and the growing concerns towards environmental pollutions.

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Outdoor Power Equipment Industry Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

Some of the major factors that are responsible for the growth of the global outdoor power equipment market share include growing urbanization, rising consumer spending on durable goods, followed by the rising focus on beautifying the gardens around the world. Additionally, the growing concerns regarding environmental pollution is further surging the market growth over the coming years. Individuals are shifting towards clean energy sources to decrease carbon emission, thus surging the market growth. There has been an increase in the R&D activities and continuous technological advancements in the outdoor power equipment with an aim to improve the comfort level, design, and reliability & performance. This is one of the emerging outdoor power equipment industry trends that is contributing to the market growth over the coming years.

The outbreak of the coronavirus is encouraged individuals to opt for advanced gardening tools and equipment attributed to the increasing focus on staying at home and maintaining social distance. However, the high maintenance cost of outdoor power equipment is likely to hinder the market growth.

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Equipment Type Segment Drivers

On the basis of equipment type, the Saws segment is projected to witness a faster CAGR over the forecast period. This is mainly due to the increasing adoption of saws as it has various applications for cutting, bulking, and cutting trees. In addition to this, numerous benefits related to electric-powered saws such as no fuel emissions, safety, affordability, improved power & performance, and easy-to-use feature further drive the market growth.

Regional Drivers

Based on the regional coverage, Asia-Pacific is expected to dominate the market during the forecast period. The increasing adoption of outdoor power equipment due to the rising number of infrastructure and residential projects is a major factor that is propelling the market growth. Furthermore, rising urbanization, along with the growing concerns to decrease pollution level, has surged the construction of sustainable buildings.

Outdoor Power Equipment Market’s leading Manufacturers:

• Deere & Company
• Husqvarna AB
• The Toro Company
• Techtronic Industries Co. Ltd.
• American Honda Motor Co., Inc.
• MTD
• Andreas Stihl AG & Co. KG
• YAMABIKO Corporation
• Ariens Company
• Stanley Black & Decker, Inc.

Outdoor Power Equipment Market Segmentation:

Segmentation by Equipment Type:
• Saws
o Lawn Mowers
 Riding Lawn Mowers
• Lawn Tractors & Garden Tractors
• Rear Engine Riding Mowers
• Zero-Turn-Radius Mowers (ZTR)
 Non-Riding Lawn Mowers
• Walk-Behind Lawn Mowers
• Robotic Lawn Mowers
• Blowers
• Trimmers & Edgers
• Snow Throwers
• Tillers & Cultivators
• Others

Segmentation by Power Source:
• Fuel Powered
• Electric Powered
o Corded
o Cordless

Segmentation by Application:
• Residential/DIY
• Commercial

Segmentation by Region:

• North America
o United States of America
o Canada

• Asia Pacific
o China
o Japan
o India
o Rest of APAC

• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

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This release was published on openPR.