Global Outdoor Power Equipment Industry is Likely to be Valued Around USD 63.2 Billion by 2032

The global outdoor power equipment market is estimated at USD 44.8 Billion in 2022 and is forecast to surpass USD 63.3 Billion by 2032, growing at a CAGR of 3.9% from 2022 to 2032.

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The market is being driven by rising usage of battery-powered outdoor power equipment for lawn maintenance and gardening activities. Rising demand for landscaping services, and rising interest among homeowners in gardening activities is likely to boost the sales of outdoor power equipment during the forecasted year.

Key Takeaways of Outdoor Power Equipment Market

• Increasing demand for landscaping and gardening activities: The outdoor power equipment market is driven by the growing demand for landscaping and gardening activities among residential and commercial consumers. As people spend more time on outdoor spaces, there is a rising interest in maintaining and beautifying lawns, gardens, and landscapes. This has led to the increased adoption of outdoor power equipment such as lawnmowers, trimmers, blowers, and chainsaws to facilitate efficient and convenient maintenance.

• Shift towards eco-friendly and efficient equipment: Environmental concerns and stricter regulations have prompted a shift towards eco-friendly outdoor power equipment. Manufacturers are focusing on developing products that are more fuel-efficient, emit lower emissions, and utilize renewable energy sources. Battery-powered and electric outdoor power equipment options have gained popularity due to their reduced environmental impact and quieter operation.

• Professional landscaping and commercial applications: The demand for outdoor power equipment is not limited to residential consumers but extends to professional landscaping companies and commercial applications. Commercial users, including golf courses, parks, sports fields, and municipalities, rely on outdoor power equipment for maintaining large areas efficiently. The market caters to the specific needs of these professionals, offering heavy-duty equipment with advanced features and durability.

• Technological advancements: The outdoor power equipment market is experiencing technological advancements aimed at improving efficiency, ease of use, and safety. Features such as self-propelled capabilities, automatic speed adjustments, touch-screen interfaces, and enhanced safety mechanisms are being incorporated into modern outdoor power equipment. Additionally, IoT (Internet of Things) integration is enabling remote monitoring, diagnostics, and optimization of equipment performance.

• Growing DIY trends and home improvement projects: The popularity of DIY (do-it-yourself) projects and home improvement activities has contributed to the demand for outdoor power equipment. Homeowners are taking on various outdoor projects, such as landscaping, renovation, and construction, which require the use of power tools and equipment. This trend has fueled the sales of outdoor power equipment as individuals seek to complete their projects independently and efficiently.

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Competitive Analysis:

Market players are investing in R&D to increase their product line and geographic reach. Key players are keen to collaborate with new entrants to gain a competitive edge.

The seven to ten companies have about one-fourth of the total market share and are projected to expand operations in fast-evolving regions such as India, China etc. to lower the production costs and other costs.

Fact.MR has provided detailed information about price points of top manufacturers of outdoor power equipment market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

• On 8th June 2021, Honda Motors Co. Ltd. has launched Honda eGX, an electrified power unit. The Honda eGX is the world's first battery-powered motor, engineered to be integrated into OEM power equipments for both indoor and outdoor use.

• On 14th December 2021, Deere & Company have entered into an agreement to acquire majority of the shares of Kreisel Electric, Inc., a battery technology developer based in Austria.

Key Companies Profiled:

• Husqvarna AB
• Makita Corp
• Honda Motors Co. Ltd
• Briggs & Stratton Corp.
• MTD Holdings Inc.
• Stanley Black and Decker Inc.
• Andreas Stihl AG & Company KG
• CHERVON (China) Trading Co., Ltd
• Techtronic Industries Ltd.

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Global Outdoor Power Equipment Market Report Scope

• By Equipment :-

o Lawn Care
o Trimmer
o Tree Care
o Leaf blower
o Snow Blower
o Maintenance
o Outdoor Power Equipment for HLE (Heavy Landscaping Equipment)

• By Capability :-

o Self-Propelled Mower
o Riding Lawn Mower
o Automatic Lawn Mower
o Push Lawn Mower
o Others

• By Fuel Type :-

o Diesel based Outdoor Power Equipment
o Electric Outdoor Power Equipment
o Battery Outdoor Power Equipment
• By Price Range ($) :-
o 0-100 dollar Outdoor Power Equipment
o 100-400 dollar Outdoor Power Equipment
o 400 & Above

Key Questions Covered in the Outdoor Power Equipment Market Report:

• What is the projected value of the Outdoor Power Equipment factors Industry in 2022?
• At what rate will the global Outdoor Power Equipment factors market size grow until 2032?
• Which are the factors hampering the growth of Outdoor Power Equipment factors?
• Which region is expected to lead in the global Outdoor Power Equipment factors market by 2032?
• Which are the factors driving the Outdoor Power Equipment factors Industry during the forecast period?
• What is the expected market value of the Outdoor Power Equipment factors market during the forecast period?

Regional Analysis for Outdoor Power Equipment Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This release was published on openPR.