Overview and Scope
Outdoor power equipment is machinery powered by an engine or electric motor and used for non-agricultural landscaping or land cultivation. These include devices, such as a saw, shovel, or drill, used to perform or facilitate manual or mechanical work. It is used outside for cutting lawns, gardens, golf courses, landscaping, or ground maintenance.
Sizing and Forecast
The outdoor power equipment market size has grown steadily in recent years. It will grow from $28.28 billion in 2023 to $28.89 billion in 2024 at a compound annual growth rate (CAGR) of 2.1%. The growth in the historic period can be attributed to urbanization, landscaping and gardening, commercial landscaping services, farming and agriculture, sports field maintenance.
The outdoor power equipment market size is expected to see steady growth in the next few years. It will grow to $33.08 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to diverse work environments, government initiatives, extreme weather preparedness, rental and leasing, seasonal demand. Major trends in the forecast period include technological advancements, sustainable landscaping, battery-powered equipment, electric lawnmowers, smart and connected equipment.
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Segmentation & Regional Insights
The outdoor power equipment market covered in this report is segmented –
1) By Equipment Type: Trimmers and Edgers, Lawn Mowers, Blowers, Tillers nd Cultivators, Snow Throwers, Other Equipment Types
2) By Power Source: Fuel Powered, Electric Powered
3) By Application: Residential, Commercial
Top Major Players:
Briggs & Stratton Corporation
Deere & Company
Honda Motor Co. Ltd.
The Husqvarna Group.
Makita Corporation
North America was the largest region in the outdoor power equipment market in 2023.
North America was the largest region in the outdoor power equipment market in 2023. The regions covered in the outdoor power equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growth in the construction industry is expected to propel the growth of the outdoor power equipment market going forward. Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structures. Outdoor power equipment is used in construction to clear the soil and chop the plants before work begins and for grounds maintenance. For instance, according to the FMI Corporation, a US-based management consulting company, in comparison to 2021, engineering and construction investment will increase by 5% in 2022. Therefore, the growth in the construction industry is driving the growth of the outdoor power equipment market.
Key Industry Players
Major companies operating in the outdoor power equipment market include Briggs & Stratton Corporation, Deere & Company, Honda Motor Co. Ltd., The Husqvarna Group., Makita Corporation., Yamabiko Corporation, STIHL AG & Co. KG, Techtronic Industries Company Ltd., The Toro Company, Andreas Stihl AG & Co.KG, AriensCo, Oregon Tool Inc., Snow Joe LLC., Craftsman, Positec Tool Corporation., AL-Ko Kober Group, Excel Industries Inc., Chevron Trading Co Ltd., MTD Holdings Inc., Stanley Black and Decker Inc., Robert Bosch GmbH, Greenworks Tools, EGO Power Plus, Ryobi Limited, Snapper Inc., Troy-Bilt LLC., Remington Arms Company LLC., Swisher Acquisition Inc.
The outdoor power equipment market report table of contents includes:
1. Executive Summary
2. Outdoor Power Equipment Market Characteristics
3. Outdoor Power Equipment Market Trends And Strategies
4. Outdoor Power Equipment Market – Macro Economic Scenarioet
5. Global Outdoor Power Equipment Market Size and Growth
…
31. Global Outdoor Power Equipment Market Competitive Benchmarking
32. Global Outdoor Power Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Outdoor Power Equipment Market
34.Outdoor Power Equipment Market Future Outlook and Potential Analysis
35. Appendix
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