Outdoor Power Equipment Market Poised for USD 48.08 Billion Surge by 2030

Jul 25, 2023

Fortune Business Insights recently released a report projecting significant growth in the global Outdoor Power Equipment Market. According to the report, the market size is expected to increase from USD 31.80 Billion in 2022 to USD 48.08 Billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period.

Pune, India, July 12, 2023 (GLOBE NEWSWIRE) -- The Outdoor Power Equipment market size was valued at USD 31.80 billion in 2022 and is projected to reach a valuation of USD 33.50 billion in 2023. The market is expected to reach USD 48.08 billion by 2030 with a CAGR of 5.3% during the forecast period. Outdoor Power Equipment is used for exterior service such as landscaping and maintaining lawns, gardens, and golf courses. Increasing number of household activities and interests in Do-it-Yourself (DIY) projects is expected to drive the market growth. Fortune Business Insights™ shares this information in its report titled “Global Outdoor Power Equipment Market, 2023-2030.”

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Report Coverage

Details

Forecast Period

2023-2030

Forecast Period 2023 to 2030 CAGR

5.3%

2030 Value Projection

USD 48.08 Billion

Base Year

2022

Market Size in 2022

USD 31.80 Billion

Historical Data for

2019-2022

No. of Pages

264

Segments covered

Outdoor Power Equipment Market Size, Share & COVID-19 Impact Analysis, By Type (Lawn Mowers {Walk-behind Mowers, ZTR Mowers, Riding Mower, Robotic Mower, and Lawn & Garden Tractor}, Trimmers {Hedge Trimmer, Brush Cutter & Trimmer, Edge Trimmer/Edger, and Others}, Blowers {Snow Blower and Leaf Blower}, Chainsaw, Pressure Washer, Tillers & Cultivators, and Others), By Power Source (Gasoline Powered, Battery Powered, and Electric Motor/Corded), By Sales Channel (E-commerce and Direct Purchase), By Application (Residential/DIY and Commercial) and Regional

Growth Drivers

Increasing Number Of Technological Developments To Propel Market Development

North America To Lead Due To Growing Number of Technological Instruments

Drivers and Restraints:

Increasing Number Of Technological Developments To Propel Market Development

Increasing number of technological developments is anticipated to drive the Outdoor Power Equipment market growth. OPE is powered by gasoline engines, electric motors, or battery-powered motors and is used for lawn, landscaping, garden, golf course, or ground care.

However, maintenance and repair requirements also raise the cost of ownership of heavy outdoor machinery which is expected to hamper the market growth.

COVID-19 Impact:

Residential Owners Expanded Their Connections For Living Landscaping And Invested In Maintaining Their Outdoor Spaces

The COVID-19 pandemic affected various industries due to travel restrictions and lockdown rules. But the equipment for outdoor power was increased even the pandemic and factors such as sales through commerce websites specifically for residential or DIY consumers boosted sales for the product. In addition, residential owners expanded their connections for living landscaping and invested in maintaining their outdoor spaces, lending to positive demand for the product.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Report Coverage:

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Segmentation:

Lawn Mower To Lead Due To Increasing Number Of Lawn And Gardens

On the basis of type, the market is divided into lawn mowers, trimmers, blower, chainsaw, pressure washer, tillers & cultivators, and others. Lawn mower to dominate the segment due to increasing number of lawn and garden maintenance and activities amongst residential users.

Gasoline Power Source to Dominate Due to its Acceptance in Heavy-duty Applications

By power source, the market is trifurcated into gasoline powered, battery powered, and electric motor/corded. The gasoline-powered segment holds the dominant market share, however it is expected to have a minor drop due to its loud sound output and carbon emission produced by using gasoline as fuel.

Direct Purchase To Lead Due To Increasing Number Of Direct Purchases

On the basis of sale channel, the market is divided into e-commerce and direct purchase. Direct purchase segment to lead the segment due to direct purchases through retail outlets in regions such as North America, Europe, and the Asia Pacific.

Residential/DIY Segment To Lead Due To Demand For DIY Projects

On the basis of application, the market is divided residential/DIY and commercial. Residential/DIY segment to lead the segment with the demand for Do-it-Yourself (DIY) projects and landscaping services.

Geographically, market is distributed across North America, Europe, Asia Pacific, and the Rest of the World.

Regional Insights:

North America To Lead Due To Growing Number of Technological Instruments

North America leads the Outdoor Power Equipment (OPE) market share due to growing demand for technological instruments for easy work. Increasing number of DIY projects and commercial lawns and parks is set to drive the regional market growth.

The demand in the Europe region is attributed to diverse use of smartphones through Bluetooth and WIFI. Germany has about 500 national parks and 550 botanical gardens as Europe’s main focus is to reduce the carbon emissions.

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Competitive Landscape:

Key Players Deliver Products For Applications Shaping The Competitive Landscape

The OPE market has numerous key players which deliver products for number of applications shaping the competitive landscape. The key players of Outdoor Power Equipment (OPE) are Alfred Karcher SE Co. Ltd, Yamabiko Corporation, Husqvarna Group, Techtronic Industries Co. Ltd, MTD Products Inc, and TTI Group, which operate on regional as well as global level.

A List of Key Manufacturers Operating in the Global Market:

Kaercher (Germany)

Yamabiko Manufactures (Japan)

Husqvarna Group (Sweden)

andreas stihl ag company kg (Germany)

Techtronic Industries (U.S.)

Maruyama U.S., Inc. (U.S.)

Stanley Black & Decker (U.S.)

MTD Products (U.S.)

Makita Group (Japan)

Vb Emak (Italy)

Toro Company (U.S.)

Hikoki (Japan)

Deere (U.S.)

Jonsered (Sweden)

Bosch (Germany)

Honda (Japan)

Cub Cadet (U.S.)

Troy Blit LLC (U.S.)

Outdoor Power Equipment Market Segmentation:

By Type:

Lawn Mowers

Trimmers

Blower

Chainsaw

Pressure Washer

Tillers & Cultivators

Others

By Power Source:

Gasoline Powered

Battery Powered

Electric Motor/Corded

By Sales Channel:

E-commerce

Direct Purchase

By Application:

Residential/DIY

Commercial

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Table of Content:

1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions & Assumptions

2. Executive Summary

3. Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

4. Key Insights

4.1. Key Emerging Trends – For Major Countries

4.2. Latest Technological Advancement

4.3. Insight on Regulatory Landscape

4.4. Porters Five Forces Analysis

4.5. Impact of COVID-19 on the Outdoor Power Equipment Market

5. Global Outdoor Power Equipment Market (USD Billion) Analysis, Insights, and Forecast, 2019–2030

5.1. Key Findings

5.2. Market Analysis, Insights and Forecast – By Type

5.2.1. Lawn Mower

5.2.1.1.Walk-behind Mowers

5.2.1.2.Zero-turn Radius (ZTR) Mower

5.2.1.3.Riding Mower

5.2.1.4.Robotic Mowers

5.2.1.5.Lawn & Garden Tractors

5.2.2. Trimmer

5.2.2.1.Hedge Trimmer

5.2.2.2.Brush Cutters & Trimmer

5.2.2.3.Edge Trimer/Edger

5.2.2.4.Others

5.2.3. Blower

5.2.3.1.Snow Blower

5.2.3.2.Leaf Blower

5.2.4. Chainsaw

5.2.5. Pressure Washer

5.2.6. Tillers & Cultivators

5.2.7. Others

5.3. Market Analysis, Insights, and Forecast – By Power Source

5.3.1. Gasoline Powered

5.3.2. Battery Powered

5.3.3. Electric Motor/Corded

5.4. Market Analysis, Insights, and Forecast – By Sales Channel

5.4.1. E-commerce

5.4.2. Direct Purchase

5.5. Market Analysis, Insights, and Forecast – By Application

5.5.1. Residential/DIY

5.5.2. Commercial

5.6. Market Analysis, Insights, and Forecast – By Region

5.6.1. North America

5.6.2. Europe

5.6.3. Asia Pacific

5.6.4. Rest of the World

Continued….

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