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Outdoor Power Equipment Market Research Report 2023
Outdoor Power Equipment Market Size By Equipment Type (Lawn Mower, Chainsaw, Trimmer & Edger, Others), Power Source (Fuel, Electric), Functionality (Connected/Smart, Conventional), Applications (Commercial, Residential), And Region Global Market Analysis and Forecast, 2023- 2030
Outdoor Power Equipment Market Synopsis
The Global Outdoor Power Equipment Market size was reasonably estimated to be approximately USD 52.18 Million in 2023 and is poised to generate revenue over USD 76.61 Million by the end of 2030, projecting a CAGR of around 5.90% from 2023 to 2030.
Outdoor Power Equipment (OPE) refers to equipment with small motors or engines that is primarily used outdoors. Outdoor power equipment is utilized by residential and commercial users for a variety of tasks, including landscaping and maintaining lawns, gardens, and golf courses.
- The equipment is powered by a gasoline engine, an electric unit, or batteries and is robust and efficient, making it more popular. In addition, increasing urbanization has resulted in the development of smart cities and infrastructure, which has increased the demand for this construction equipment.
- The market for outdoor power equipment is shifting towards advanced and innovative products. A notable illustration is the robotic lawn mower. The demand for alternative energy sources and more efficient equipment is gradually increasing. The market is currently saturated with electric lawnmowers and robotic outdoor power equipment.
- While robotic lawnmowers are still in their infancy, electric lawnmowers have proven to be cost-effective and provide the necessary torque for landscaping tasks. Focus is being placed on developing fully and partially automatic lawn equipment for both commercial and residential clients. These factors fuel market expansion.
Top Key Players Involved Are:
"Corradi S.P.A., AirBoss Air Tools Co. Ltd., Andreas Stihl AG & Co. KG, American Lawn Mower Company, Apex Tool Group LLC, BEFCO Inc., Blount International Inc., Cub Cadet, Draper Tools Ltd., Briggs & Stratton Corporation, Craftsman, Bigger Boyz Toyz Australia Pty Ltd, Comifer Srl, CAO HUNG TECHNICAL SERVICE , TRADING COMPANY LIMITED, Arboriculture Canada Training and , Education Ltd. and Other Major Players."
The Outdoor Power Equipment Market Trend Analysis
Increasing Gardening Efforts To Boost Market Expansion
- Market demand for equipment is primarily driven by the rising demand for landscaping services to enhance the aesthetic appeal of residential properties. Additionally, commercial users utilize it to improve the appearance of their properties.
- For lawn maintenance, hardscaping, lawn renovation, tree care, organic or natural lawn care, and snow removal, outdoor power equipment such as lawnmowers, blowers, hedge trimmers, and saws are used in the landscaping industry. 70% of the world's population will reside in or near urban areas, where increased landscaping and gardening activities will contribute to an increase in demand for outdoor equipment.
- Urbanization will increase the demand for smart cities and green spaces, as well as for new buildings, the maintenance of public green spaces and parks, and the purchase of equipment. In this context, numerous companies, such as Makita Corporation, develop cordless OPE systems as alternatives to gas-powered equipment in order to meet the demand for the equipment.
Technological Advancements and Extensive Economic Growth
- The introduction of a new product with evolving technology has always been a key market and industry growth driver, enabling businesses to attract more customers and meet rising demand.
- As the adoption of IoT devices and the demand for smart and connected products increases, manufacturers are emphasizing the delivery of connected equipment. Developments in technology and the adoption of wireless networking techniques result in the creation of intelligent and networked tools.
- For leading OPE manufacturers, the production of the intelligent and connected equipment is becoming increasingly important. For instance, technological advancements are anticipated to benefit the market by fostering the growth of robotic lawnmowers. In addition, the demand for battery-powered and cordless saws in the construction industry is the primary driver of the segment's expansion.
Segmentation Analysis Of The Outdoor Power Equipment Market
Outdoor Power Equipment market segments cover the Equipment Type, Power Source, Functionality, and Applications. By Equipment Type, the Lawn Mower segment is Anticipated to Dominate the Market Over the Forecast period.
- Lawnmowers dominate the global market for outdoor power equipment. A lawnmower is a machine with one or more rotating blades that even out the height of the grass. A small internal combustion engine is the most typical self-contained power source for lawnmowers. Smaller lawnmowers frequently lack any form of propulsion and must be pushed across the surface by hand.
- Lawnmowers are widely used around the world for chopping, trimming, and mowing grass patches, fields, lawns, and gardens to ensure that the grass is well-groomed and grows at the proper height. The increased development of parks and small-scale gardens in residential buildings and cities in an effort to reduce pollution has led to an increase in the demand for lawnmowers to maintain the aesthetics of these spaces.
- Individuals' increased investment in residences with gardens has contributed to the expansion of the market. The presence of the aforementioned factors is anticipated to create numerous opportunities for market growth.
Regional Analysis of The Outdoor Power Equipment Market
North America is Expected to Dominate the Market Over the Forecast period.
- The United States holds a substantial market share, followed by Canada and Mexico. According to U.S. government regulations, community garden plots are also regarded as an integral part of society; consequently, the use of gardening tools boosts the market for outdoor power equipment. The presence of snow during the winter season has led to an increase in demand for outdoor power equipment, specifically snow blowers.
- The increase in urbanization and the willingness of consumers to spend discretionary income on recreational activities such as golf and landscaping services has a positive effect on the sales of small engines for commercial and residential applications. The government's initiatives in infrastructure development are facilitating massive construction projects, primarily in the urban areas of the countries.
- The expansion of the construction industry is primarily driven by the private sector's ongoing investments in residential and commercial building projects. Additionally, individual homes in the United States with lawn or garden areas play a significant role in promoting the use of various outdoor power equipment. Due to the rise in the construction of single-family homes, the demand for lawns among Americans is rising.
- Increasing construction and the rising popularity of do-it-yourself projects are driving up the demand for outdoor equipment in North America. The aforementioned initiatives are a major factor propelling the growth of this region's market over the forecast period. The following figure shows the new residential construction in the United State which depict the growing demand for Outdoor Power Equipment.
Source: U.S. Census Bureau, HUD, December 20, 2022
Covid-19 Impact Analysis On the Outdoor Power Equipment Market
- COVID-19 has had a devastating impact on global trade, which has impacted households, businesses, financial institutions, industrial firms, and infrastructure companies. The novel coronavirus has impacted a number of economies and caused lockdowns in a number of nations, limiting the market's expansion.
- The cessation of industrial manufacturing led to a decrease in demand for gas-related equipment in the majority of the world's nations, which in turn led to a decrease in demand for outdoor power equipment. During the outbreak, the decrease in power consumption in industrial facilities across the globe has had a negative impact on market growth.
- With the resumption of operations in numerous industries, a surge in demand for outdoor power equipment has been observed in the post-pandemic period. The COVID-19 pandemic has had a significant impact on the value chain of the outdoor power equipment market; however, the value chain has been consistently revitalized, resulting in steady market growth.
- The United States, China, and Germany held significant market shares in 2021. In the post-pandemic period, market growth is being driven by a significant increase in demand from the commercial and residential/DIY application segments for the maintenance of public and private spaces.
Top Key Players Covered in The Outdoor Power Equipment Market
- Corradi S.P.A.
- AirBoss Air Tools Co. Ltd.
- Andreas Stihl AG & Co. KG
- American Lawn Mower Company
- Apex Tool Group LLC
- BEFCO Inc.
- Blount International Inc.
- Cub Cadet
- Draper Tools Ltd.
- Briggs & Stratton Corporation
- Craftsman
- Bigger Boyz Toyz Australia Pty Ltd
- Comifer Srl
- CAO HUNG TECHNICAL SERVICE TRADING COMPANY LIMITED
- Arboriculture Canada Training and Education Ltd. and Other Major Players
Key Industry Developments in the Outdoor Power Equipment Market
In May 2022, Toro introduced a new robotic lawnmower that will be available in the spring of 2023. In the final year of R&D is an autonomous, intelligently connected, and alternatively powered new robotic mower. Without the need for alternative boundary wire installation, wireless navigation and vision-based localization systems permit simple installation and can be tailored to each plot. It has anti-theft features and slope-friendly cutting capabilities, and it is quite functional.
In April 2022, Karcher released an autonomous robotic floor scrubber and expanded its autonomous product line with a sophisticated robotic scrubber. This KIRA B 100 R robot is powered by Brain OS, which is developed by Brain Corporation. It is the globally recognized and commercially authenticated software foundation for Autonomous Mobile Robots (AMRs) and their functional public indoor environments. In addition, KIRA represents the Karcher application of intelligent robotic application.
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Global Outdoor Power Equipment Market |
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Base Year: |
2022 |
Forecast Period: |
2023- 2032 |
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Historical Data: |
2016 to 2021 |
Market Size in 2023: |
USD 52.18 Mn. |
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Forecast Period 2023- 30 CAGR: |
5.90 % |
Market Size in 2030: |
USD 76.61 Mn. |
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Segments Covered: |
By Equipment Type |
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|
By Power Source |
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By Functionality |
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By Applications |
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By Region |
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Frequently Asked Questions
What would be the forecast period in the Outdoor Power Equipment Market research report?
The forecast period in the Outdoor Power Equipment Market research report is 2023-2032.
Who are the key players in Outdoor Power Equipment Market?
Corradi S.P.A., AirBoss Air Tools Co. Ltd., Andreas Stihl AG & Co. KG, American Lawn Mower Company, Apex Tool Group LLC, BEFCO Inc., Blount International Inc., Cub Cadet, Draper Tools Ltd., Briggs & Stratton Corporation, Craftsman, Bigger Boyz Toyz Australia Pty Ltd, Comifer Srl, CAO HUNG TECHNICAL SERVICE TRADING COMPANY LIMITED, Arboriculture Canada Training and Education Ltd., and other major players.
What are the segments of the Outdoor Power Equipment Market?
The Outdoor Power Equipment Market is segmented into Equipment Type, Power Source, Functionality, Applications and region. By Equipment Type, the market is categorized into Lawn Mower, Chainsaws, Trimmers & Edger, and Others. By Power Source, the market is categorized into Fuel, Electric. By Functionality, the market is categorized into Connected/Smart, Conventional. By Applications, the market is categorized into Commercial, Residential. By region, it is analyzed across North America (US; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia Pacific (China; India; Japan; South Korea; Malaysia; Thailand; Vietnam; The Philippines; Australia; New Zealand; Rest of APAC), Middle East & Africa (Turkey; Bahrain; Kuwait; Saudi Arabia; Qatar; UAE; Israel; South Africa), South America (Brazil; Argentina; Rest of SA).
What is the Outdoor Power Equipment Market?
Outdoor Power Equipment (OPE) is equipment with small motors or engines primarily used for exterior service. Residential and commercial users use outdoor power equipment for various tasks such as landscaping and maintaining lawns, gardens, and golf courses.
How big is the Outdoor Power Equipment Market?
The Global Outdoor Power Equipment Market size was reasonably estimated to be approximately USD 52.18 Million in 2023 and is poised to generate revenue over USD 76.61 Million by the end of 2030, projecting a CAGR of around 5.90% from 2023 to 2030.
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Base Year:2022
Historical Data:2016- 2021
No of Pages:300
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