Outdoor Power Equipment Market size was valued at USD 24.50 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2023 to 2030 and it will reach USD 32.02 Billion in 2030.
Small motors or integrated engines are used to power outdoor power plants. It is referred to as a global outdoor power supply if the equipment is mostly utilized for external services. Typical outdoor power supply items include electrical racks, chainsaws, edger, brush cutters, and more. There are several uses for outdoor power plants in the business and residential domains. End users that supply local services and lawn care companies frequently employ outdoor energy supplies for business use. Homeowners and DIY enthusiasts are the end users of Global Outdoor Power products used for domestic use. Lawnmowers are commonly used outdoor power instruments.
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The factors anticipated to fuel the growth of the outdoor power equipment market include rising demand for landscaping services, infrastructure projects, increasing levels of urbanization, and disposable income. Furthermore, because lithium-ion batteries are environmentally friendly and increase energy output, more outdoor power equipment is being adopted as people become more conscious of environmental issues. Numerous businesses are concentrating on lithium-ion battery technologies. For example, Techtronic’s Industries began using red lithium-ion batteries for its cordless power tools in 2021 because they operate more quickly and provide more power than anticipated during the battery’s life.
Growing more and more people are getting into gardening, especially younger people. The majority of youth are drawn to cultivating fruits, vegetables, and herbs. Young people are more likely to live in smaller yards, thus the tools, plants, and equipment they need should be able to fit in smaller areas. The lawn and gardening sector is evolving in response to changing consumer demands by introducing lighter, more comfortable work equipment.
KEY PLAYERS:
The major players in Global Outdoor Power Equipment Market are Deere & Company, Andreas Stihl AG & Company KG, Honda Motor Co Ltd., The Toro Company, Ariens Company, Yamabiko Corporation, Stanley Black & Decker Inc, Techtronic Industries, Briggs & Stratton Corporation, STIGA S.p.A, AL-KO Kober Group, Robert Bosch and Emak S.p.A., Husqvarna, Makita, Robert Bosch, STIHL Group, Techtronic Industries, MTD Products, and The Toro Company and others
Market Segmentation:
BY TYPE
Lawn Mower – Lawn Tractor
Zero-turn
Walk-behind
Robotic
Chain Saw
Trimmer and edger
Blowers
Tillers and Cultivators
Trimmers
Hedge Trimmers
Sprayers
Mist Dusters
Saws
Snow Throwers
BY PRODUCT
Cordless Tools
Rope Power Tools
BY POWER-SOURCE
Fuel-Powered
electrical-Powered
By Functionality
Connected/Smart
Conventional
BY APPLICATION
Commercial
Residential
Power Source -Fuel
electrical.
REGIONAL ANALYSIS:
On a regional basis, the Global Outdoor Power Equipment Market is divided into two, including North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America is expected to hold the fastest-growing segment in the forecast period. The increase in investment in infrastructure and the housing market, it is expected to lead to an increase in the construction sector in the APAC region.
OPPORTUNITIES
With the growing adoption of IoT devices and the growing popularity of smart and connected products, manufacturers are focusing on providing connected devices. Advances in technology and the adoption of wireless connection processes lead to the development of smart and connected tools. Leading Global Outdoor Power manufacturers are focusing on the production of smart and connected Global Outdoor Power plants. For example, John Deere began offering JDLink to customers at an additional cost, which is a digital platform that collects real-time machine data and transmits it to John Deere’s service centers.
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