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Several market drivers shape the dynamics of the outdoor power equipment industry by influencing its various segments. An important motivating factor for this market is the growing need to develop efficient, time-saving tools in lawn and garden care. However, homeowners and professionals struggle to keep up with the soaring urbanization looking for more efficient outdoor power machines.
Furthermore, the increasing consciousness of environmental concerns has resulted in a significant increase in demand for environmentally friendly and energy-saving equipment which forced manufacturers to innovate with efficient green technology. One of the main market factors is technological innovations. Technological advancements have led to the emergence of smart and intelligent outdoor power equipment.
These advanced tools are made with decide technologies employing remote controls, real-time tracking and automated functions improving user friendliness and effectiveness. The use of new technologies not only appeals to tech-savvy consumers but also accelerates the development and competitiveness of this market. Government regulations and environmental policies also act as significant factors for the outdoor power equipment market.
Increased awareness of emissions and noise pollution has led governments impose stringent standards, forcing manufacturers to manufacture products that meet these standards. This focus on sustainability has encouraged enterprises to spend resources for research and development that would produce cleaner noises, fulfilling both requirements of the regulation as well as wants belonging consumers.
Economic factors such as disposable income and consumer spending behavior also influence market dynamics. During periods of economic cultivation, the consumers prefer to spend on expensive and is offered with great durability as well-advanced features in outdoor power equipment. On the other hand, in times of economic recession there can be a change towards cheaper alternatives leading to alterations in market patterns and product preference.
Factors that determine the competitive landscape of the outdoor power equipment market include consolidated markets, mergers, and acquisitions. Market dynamics can be greatly influenced by large corporations buying smaller firms or the formation of strategic alliances. These activities contribute to the formation of wide-ranging product lines, larger distribution systems and greater market share.
Additionally, market competition forces manufacturers to concentrate on the issues of product differentiation mainly focused on innovation and customer satisfaction so that they can have an edge in their markets. Market forces under outdoor power equipment are also driven by consumer preferences and trends. For example, there is a trend towards electric tools as they do not require wires and the use of such equipment conforms to modern views on sustainability.
People are becoming aware of their environment in terms of the decisions they make, which influences product choices and forces manufacturers to invest more on recyclable batteries. Another important factor affecting the outdoor power equipment market is distribution channels.
The move towards online shopping has broadened the scope of manufacturers to an international customer base. The emergence and development of such websites offer consumers an opportunity to search for a very broad scope of the power equipment on sale outdoors that affect traditional physical stores, changing the overall market structure.
Outdoor Power Equipment Market Highlights:
Global Outdoor Power Equipment Market Overview:
Outdoor Power Equipment Market Size was projected at USD 28.19 Billion in 2023. The Outdoor Power Equipment market industry is projected to grow from USD 29.66 Billion in 2024 to USD 42.36 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.56% during the forecast period (2024 - 2032). Increased usage of electric instruments for do-it-yourself projects, increased domestic activities, and the launch of innovative units are the key market drivers contributing to market growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Outdoor Power Equipment Market Trends
Growing usage of electric instruments is driving the market growth
The rising usage of electric instruments drives the market CAGR for outdoor power equipment. The growing trend of developing gardens and lawns in houses worldwide is expected to promote the industry's growth. Landscape planting is growing increasingly popular among the general public. Consumer expenditure on lawn upkeep, maintenance of trees, hardscaping, and grass redevelopment has grown.
Landscape gardening tools that include cutting tools, mowers, hedge cutters, and blowers are frequently utilized, which is expected to create worldwide consumer interest in the product. Increasing government initiatives to build infrastructure worldwide to make communities greener are expected to drive demand for the sector. Natural areas, such as gardens, parks, lakeshores, and sports fields, are connected with improved air quality, lower temperatures, less sound, and more variety, allowing people to exercise and relax. Also, the rising popularity of renovation projects bodes well for the expansion of this market throughout the projection period.
Additionally, the expanding usage of generators for DIY projects and rising household activities are expected to boost market growth throughout the forecast period. Manufacturers' sales strategies will alter due to the fast expansion of the e-commerce business and changing client purchasing behaviors. Raw material price fluctuations and consumer desire for artificial grass may limit industry expansion. Gardening is becoming increasingly popular, particularly among younger people. Most young people choose to produce fruits, vegetables, and herbs. Because young individuals are more inclined to live on smaller garden lots, the supplies, plants, and tools they need should be able to fit in smaller places. As a result of the numerous benefits, government investment in building these green spaces in metropolitan areas is expected to fuel the market's growth.
The introduction of Covid-19 created a considerable commercial influence. Due to the restricted motion of workforces engaged at their sites, producers were forced to close their businesses and discontinue manufacturing such outdoor items at their factories, hampered the market's growth. However, due to its usage in the residential sector, the market had high demand during Covid-19. The shutdown kept the people inside their homes, allowing them to engage in planting and various other recreational pursuits, which raised the need for outdoor electric items.
For instance, sales of commercial lawnmowers rose by more than 15.0% in 2020, based on the Outdoors December projection report in 2021, with about 7.7 billion units shipped. Also, growing worried about petrol fumes & engine noise due to Covid-19 has raised the need for environmentally friendly outdoor generators. Thus, it is anticipated that demand for Outdoor Power Equipment will increase throughout the projected timeframe due to the rising usage of electric instruments. Thus, driving the Outdoor Power Equipment market revenue.
Outdoor Power Equipment Market Segment Insights:
Outdoor Power Equipment Product Insights
The Outdoor Power Equipment market segmentation, based on product, includes Cordless Tools and Rope Power Tools. The cordless tools segment dominated the market, accounting for 62% of market revenue (USD 16.62 Billion) in 2022. Because they make less noise and are lightweight, and are commonly utilized for home garden maintenance.
Outdoor Power Equipment Power Source Insights
The Outdoor Power Equipment market segmentation, based on Power Sources, includes Electric, Battery, and Others. The battery category generated the highest market revenue of about 53% (USD 14.2 billion) in 2022 because it has reduced delivery costs, is lighter than petrol equivalents, and can be acquired more reasonably online.
Outdoor Power Equipment Application Insights
The Outdoor Power Equipment market segmentation, based on Application, includes Household and Commercial. The household segment dominated the market, accounting for 56% of market revenue (USD 15 Billion) in 2022. The increased propensity of residential users to devote more time to planting and outside activities is predicted to fuel demand for this market.
Figure 1: Outdoor Power Equipment Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Outdoor Power Equipment Regional Insights
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Outdoor Power Equipment market area is expected to grow quickly during the projected timeframe; these goods are widely used in the home and business sectors. Awareness among consumers of the ease of accessibility and the effectiveness of these outdoor items will boost the market demand in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Outdoor Power Equipment Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Outdoor Power Equipment market accounts for the second-highest market share due to improved mowing abilities and navigational functions projected to aid the expansion of the market. Further, the German Outdoor Power Equipment market holds the largest market share, and the UK Outdoor Power Equipment market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Outdoor Power Equipment Market will dominate during the projected timeframe. This is due to Increased disposable income and shifting habits in many emerging nations are predicted to increase the need for outdoor generators to improve athletic venues and grounds. Moreover, China’s Outdoor Power Equipment market dominates the market share, and the Indian Outdoor Power Equipment market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Outdoor Power Equipment Key Market Players & Competitive Insights
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Outdoor Power Equipment market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Outdoor Power Equipment industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Outdoor Power Equipment industry to benefit customers and capture untapped market share and revenue. The Outdoor Power Equipment industry has recently offered significant advantages to the Industrial Automation & Equipment industry.
Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Outdoor Power Equipment market, including Husqvarna (Sweden), Deere & Company (US), Honda Motor Co., Ltd. (Japan), Blount International, Inc. (US), The Toro Company (US), STIHL Holding AG & Co. KG (Germany), Stanley Black & Decker Inc. (US), Makita Corporation (Japan), MTD Products (US), Emak S.p.A. (Italy), and Techtronic Industries (Hong Kong), are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
Karcher Industrial Vacuuming is a well-known manufacturer of outstanding performance Hoover cleaners for a wide range of applications in the industry. It is the world's top provider of cleaning solutions, with affiliates and dealers in over 190 countries. Karcher will introduce a self-driving robotic floor cleaner in April 2022, expanding its line of autonomous goods. Their range of smart robotic devices for effective floor cleaning and maintenance activities has been expanded with the addition of the KIRA B 100 R.
Toro Co. creates, produces, and sells a variety of lawn equipment. In 1914, John S. Clapper and Henry C. McCartney formed the corporation, which is located in Bloomington, Minnesota. It engages in the following areas: Residential & professional. Toro announced an updated robotic mower in May 2022, with a delivery date of spring 2023. This self-driving mower fueled by renewable energy is in its last year of development. It includes wireless navigational and vision-based positioning capabilities, making it simple to set up.
Key Companies in the Outdoor Power Equipment market include
- Husqvarna (Sweden)
- Deere & Company (US.)
- Honda Motor Co., Ltd. (Japan)
- Blount International, Inc. (US.)
- The Toro Company (US.)
- STIHL Holding AG & Co. KG (Germany)
- Stanley Black & Decker Inc. (US.)
- Makita Corporation (Japan)
- MTD Products (US.)
- Emak S.p.A. (Italy)
- Techtronic Industries (Hong Kong)
Outdoor Power Equipment Industry Developments
May 2022:Toro announced an updated robotic mower in May 2022, with a delivery date of spring 2023. This self-driving mower fueled by renewable energy is in its last year of development. It includes wireless navigational and vision-based positioning capabilities, making it simple to set up.
April 2022:Karcher will introduce a self-driving robotic floor cleaner in April 2022, expanding its line of autonomous goods. Their range of smart robotic devices for effective floor cleaning and maintenance activities has been expanded with the addition of the KIRA B 100 R.
January 2022:Robert Bosch GmbH introduced Keo, a cordless yard saw, in January 2022. The device is well-known for its strong changeable battery compartment and adjustable saw blades for DIY uses.
Outdoor Power Equipment Market Segmentation:
Outdoor Power Equipment Product Outlook
- Cordless Tools
- Rope Power Tools
Outdoor Power Equipment Power Source Outlook
- Electric
- Battery
- Others
Outdoor Power Equipment Application Outlook
- Household
- Commercial
Outdoor Power Equipment Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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