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Global Outdoor Power Equipment Market Comprehensive Study: Forecasted Market Size And Growth Rate | Briggs & Stratton Corporation, Deere & Company, Honda Motor Co. Ltd., The Husqvarna Group., Makita Corporation., Yamabiko Corporation, STIHL AG & Co. KG, T
Outdoor Power Equipment Market Trends
The Business Research Company offers in-depth market insights through Outdoor Power Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The outdoor power equipment market size has grown steadily in recent years. It will grow from $28.28 billion in 2023 to $28.89 billion in 2024 at a compound annual growth rate (CAGR) of 2.1%. The growth in the historic period can be attributed to urbanization, landscaping and gardening, commercial landscaping services, farming and agriculture, sports field maintenance.
The outdoor power equipment market size is expected to see steady growth in the next few years. It will grow to $33.08 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to diverse work environments, government initiatives, extreme weather preparedness, rental and leasing, seasonal demand. Major trends in the forecast period include technological advancements, sustainable landscaping, battery-powered equipment, electric lawnmowers, smart and connected equipment.
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Market Segmentation:
The main types of outdoor power equipment are trimmers and edgers, lawnmowers, blowers, tillers and cultivators, snow throwers, and others. The trimmers and edgers outdoor power equipment makes the yard and lawn tidier. Edgers are used to give an edge to the yard, mainly a finishing edge. The various power sources include fuel-powered and electric-powered and are used in several applications such as residential and commercial.
Major Driver - Construction Industry Growth Fuels Demand For Outdoor Power Equipment
The growth in the construction industry is expected to propel the growth of the outdoor power equipment market going forward. Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structures. Outdoor power equipment is used in construction to clear the soil and chop the plants before work begins and for grounds maintenance. For instance, according to the FMI Corporation, a US-based management consulting company, in comparison to 2021, engineering and construction investment will increase by 5% in 2022. Therefore, the growth in the construction industry is driving the growth of the outdoor power equipment market.
Competitive Landscape:
Major companies operating in the outdoor power equipment market include Briggs & Stratton Corporation, Deere & Company, Honda Motor Co. Ltd., The Husqvarna Group., Makita Corporation., Yamabiko Corporation, STIHL AG & Co. KG, Techtronic Industries Company Ltd., The Toro Company, Andreas Stihl AG & Co.KG, AriensCo, Oregon Tool Inc., Snow Joe LLC., Craftsman, Positec Tool Corporation., AL-Ko Kober Group, Excel Industries Inc., Chevron Trading Co Ltd., MTD Holdings Inc., Stanley Black and Decker Inc., Robert Bosch GmbH, Greenworks Tools, EGO Power Plus, Ryobi Limited, Snapper Inc., Troy-Bilt LLC., Remington Arms Company LLC., Swisher Acquisition Inc.
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Top Trend - Technological Advancements Driving Innovation In The Outdoor Power Equipment Market
Technological advancements have emerged as the key trend gaining popularity in the outdoor power equipment market. Major companies operating in the outdoor power equipment sector are focused on developing new technological solutions to sustain their position in the market. For instance, In February 2022, Stihl, a Germany-based company that manufactures chainsaws and outdoor power equipment, launched a new chain saw called Stihl MSA 300 based on Power Laminate technology. It possessed the most powerful battery-powered chainsaw and an LED display that allowed the user to monitor the saw's status.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Outdoor Power Equipment Market Characteristics
3. Outdoor Power Equipment Market Trends And Strategies
4. Outdoor Power Equipment Market - Macro Economic Scenario
5. Outdoor Power Equipment Market Size And Growth
…..
27. Outdoor Power Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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