Outdoor Power Equipment Market Share, Size & Industry Growth Report, 2020-2027
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Outdoor Power Equipment Industry Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
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.
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.
• Andreas Stihl AG & Co. KG
• YAMABIKO Corporation
• Ariens Company
• Stanley Black & Decker, Inc.
Outdoor Power Equipment Market Segmentation:
Segmentation by Equipment Type:
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
• Trimmers & Edgers
• Snow Throwers
• Tillers & Cultivators
Segmentation by Power Source:
• Fuel Powered
• Electric Powered
Segmentation by Application:
Segmentation by Region:
• North America
o United States of America
• Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
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