Outdoor Power Equipment Market Size Worth USD 52.01 Billion in 2032 | Emergen Research

Rising demand for landscaping services is a key factor driving Outdoor Power Equipment (OPE) market revenue growth

Vancouver, Jan. 30, 2024 (GLOBE NEWSWIRE) — The global Outdoor Power Equipment (OPE) market size was USD 28.10 Billion in 2022 and is expected to register a rapid revenue CAGR of 6.4% during the forecast period. Rising demand for landscaping services as well as outdoor decorations and increasing interest of homeowners in gardening activities are major factors driving market revenue growth. Outdoor power equipment is used by both household and commercial customers for various purposes such as landscaping and maintaining lawns, gardens, and golf courses. Equipment, such as brush cutters, stump grinders, and excavators, are used to clear vegetation, remove tree stumps, and prepare the ground for landscaping installations. In addition, string trimmers are useful for decorating the outdoors, particularly in gardens and yards.

Technological advancements by various companies in Outdoor power equipment is another factor driving revenue growth of the market. For instance, on 8 December 2020, ECHO Incorporated introduced the powerful PB-9010 backpack blower. The ECHO PB-9010 enhances industry-leading blowing performance to tackle the hardest applications, with 18% more power than its nearest competitor. These outdoor power tools were built to be powerful, lightweight, and productive. PB-9010 is suitable for heavy debris clean-up, clearing wide open spaces such as clearing huge parking lots or stadiums, and rapid clean-ups following mowing.

Rapid growth in construction and real estate sectors is another factor expected to drive Outdoor power equipment market revenue growth during the forecast period. For instance, on 1 July 2021, Honda India Power Products Limited (HIPP), a prominent power product manufacturer in India, introduced the FQ650, a compact power tiller designed to address diverse customer requirements. This new tiller model caters specifically to the needs of farmers involved in cultivating vegetables, spices, horticulture, cash crops, orchards, nurseries, and other similar agricultural activities. Demand for a compact, robust, and cost-effective power tiller capable of efficiently performing various farm operations, such as ground-breaking, pulverizing, furrow and ridge formation, and de-weeding, has been steadily increasing among these farmers.

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High maintenance costs and improper use of outdoor power equipment or lack of training can result in accidents or injuries, which could restrain Outdoor power equipment market revenue growth. The power cords of electric lawnmowers restrict their mobility, preventing them from covering extensive distances during use. In addition, caution must be exercised to avoid accidentally mowing over the cord, which can be potentially hazardous. Moreover, damaging the cord would render electric mower inoperable until the cord is repaired or replaced, which could also restrain market revenue growth. Furthermore, finding the right mower can be a challenge for homeowners with hilly or larger yards.

Segment Insights

Equipment Type Insights:

Based on equipment type, the global outdoor power equipment (OPE) market is segmented into lawnmowers, saws, trimmers & edgers, blowers, snow throwers, titters & cultivators, and others. The lawnmowers segment accounted for largest revenue share in the global outdoor power equipment market in 2022. This is because lawn mowers help to fight weed growth and restore yard to its former glory and eliminates the problem of mistakenly mowing the grass and injuring it. These professional-level machines can cut at higher levels and at more comfortable angles, resulting in a better-looking completed product.

In addition, these are more dependable, faster, simpler to use, and require less maintenance than their manual counterparts. The introduction of smart lawn mowers with Global Positioning System (GPS), sensors, and automatic programming has also completely changed the lawn care sector. These clever lawnmowers can map the grass and figure out the best path for cutting, saving the operator time and effort.

Application Insights:

Based on application, the global market is segmented into residential/DIY and commercial. The residential/DIY segment is expected to account for significantly large revenue share in the global outdoor power equipment market over the forecast period. This is due to rising demand for outdoor power equipment for activities such as lawn mowing, gardening, and landscaping. Homeowners are responsible for maintaining their own lawns and gardens. The size of residential properties is influencing the need for outdoor power equipment. Moreover, rising popularity of DIY activities, such as home improvement and landscaping projects, is also expected to drive revenue growth of this segment during the forecast period.

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Regional Insights:

North America market accounted for largest revenue share in the global outdoor power equipment market in 2022. This is due to rising demand for OPE in both residential and commercial applications in countries such as the U.S. and Canada. With families owning gardens and lawns that require regular maintenance, the U.S. is considered a large market for OPE. In addition, rising popularity of backyard barbecues, social gatherings, and other outside activities and increasing adoption of sustainable landscaping techniques and awareness about environmental conservation are also expected to drive market revenue growth in this region during the forecast period. On 22 June 2020, Lowe’s Companies, Inc., the premier retailer of outdoor power equipment, announced the debut of EGO, the number one brand in battery-powered outdoor power equipment.

The Europe market is expected to account for considerably large revenue share in the global outdoor power equipment market during the forecast period. This is due to the increasing need for outdoor power equipment owing to factors such as climate, cultural preferences, and economic conditions. In addition, the rising number of residential and commercial development projects in this region is also expected to drive market revenue growth in this region over the forecast period. Furthermore, electric lawnmowers, trimmers, and leaf blowers are popular choices owing to their smaller size and quieter operation, which is also driving market revenue growth in this region to some extent.

Scope of Research

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Major Companies and Competitive Landscape

The global outdoor power equipment (OPE) market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market.

Some major players included in the outdoor power equipment market report are:

• Briggs & Stratton
• Deere & Company
• Husqvarna Motorcycles
• makita.in
•  Bosch Limited
• Stanley Black & Decker, Inc.
• ANDREAS STIHL AG & Co.
• Techtronic Industries Co., Ltd.
• The Toro Company
•  MTD Products Inc.

Strategic Development

• On 26 September 2022, STIHL launched a fresh selection of iMOW robotic lawn mowers, consisting of six models. Each mower is equipped with STIHL’s innovative Disc Cut mowing system, featuring a cutting width of approximately 28 cm (11 inches). The range of iMOW robots is designed to cater to lawns of various sizes, iMOW 5 is suitable for areas up to 1,500 m² (16,146 ft²), iMOW 6 is ideal for gardens up to 3,000 m² (32,292 ft²), and iMOW 7 can efficiently cover larger spaces of up to 5,000 m² (53,820 ft²).

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global outdoor power equipment (OPE) market on the basis of equipment type, application, power source, functionality, and region:

• Equipment Type Outlook (Revenue, USD Billion; 2019–2032)
  • Lawn Mowers
  • Saws
  • Trimmers & Edgers
  • Blowers
  • Snow Throwers
  • Titters & Cultivators
  • Others
• Application Outlook (Revenue, USD Billion; 2019–2032)
  • Residential/DIY
  • Commercial
• Power Source Outlook (Revenue, USD Billion; 2019–2032)
  • Fuel Powered
  • Electric Powered
• Functionality Outlook (Revenue, USD Billion; 2019–2032)
  • Connected/Smart
  • Conventional
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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