Outdoor Power Equipment Market 2023 | Emerging Technologies, Business Trends | Briggs & Stratton Corp., Ariens Company, Stanley Black & Decker, Inc.

As per the report published by The Brainy Insights, the global outdoor power equipment market is expected to grow from USD 16.23 billion in 2020 to USD 33.89 billion by 2030, at a CAGR of 3.45% during the forecast period 2021-2030. North America region emerged as the largest market for the global outdoor power equipment market with a 40.2% share of the market revenue in 2020.

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Outdoor Power Equipment Market Size by Product (Lawn Mowers, Saws, Trimmers & Edgers, Blowers, Snow Throwers, Tillers & Cultivators, Others), By power Source (Electric-powered, Fuel-powered), By Application (Residential, Commercial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Leading companies in the industry include Briggs & Stratton Corp., Ariens Company, Stanley Black & Decker, Inc., AL-KO KOBER GROUP, Husqvarna AB, Schiller Ground Care, Yamabiko Corp, Techtronic Industries Company Ltd, Emak S.p.A., Honda Motor Company, Ltd., Excel Industries, Inc., CHEVRON (China) Trading Co., Ltd., Andreas Stihl AG & Company KG, MTD Holdings Inc., and Makita Corp. among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The product segment is divided into lawn mowers, saws, trimmers & edgers, blowers, snow throwers, tillers & cultivators, and others. The lawn mowers segment led the market with a market share of around 29.3% in 2020. The segment growth is mainly attributed owing to the increasing penetration of the lawn mowers for the landscaping and gardening activities in the residential societies and the commercial complexes. The power source segment has been bifurcated electric-powered and fuel powered. The electric powered segment is expected to grow at the highest CAGR during the forecast period. The growing adoption of battery based outdoor equipment products is the primary factor which is boosting the segment growth in the current scenario. The application segment is divided into residential and commercial. The residential segment is anticipated to grow at the highest CAGR during the forthcoming years. The end-users in the residential sector can be homeowners and do-it-yourself (DIY) enthusiasts.

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The increasing demand for the outdoor power equipment amongst the homeowners is the main factor which is escalating the market growth. In the present scenario, the homeowners are heavily using the outdoor power equipment in order to improve and enhance the aesthetics so as to boost the attraction of their houses. The outdoor power equipment is experiencing a shift towards superior and progressive equipment. The outstanding example is the robotic lawn mower. In the industry of landscaping, a diverse range of outdoor power equipment, together with garden mowers, hedge trimmers, blowers, and saws are utilized in diverse range of landscaping activities that encompass lawn protection, tree care, garden preservation, along with snow removal and other activities. Currently, electric lawn mowers and robotic outdoor power equipment are extensively used within the marketplace. While the robotic lawn mowers are still on the organizing level, electric powered garden mowers have proved to be price-green and offer the required torque for landscaping activities. Manufacturing companies specialize in developing fully and semi-automated lawn mowers and other outdoor power equipment for each residential and commercial customer.

About the report:
The global podcasting market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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