The global outdoor power equipment market revenue was around US$ 25.71 billion in 2022 and is estimated to reach US$ 41.27 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2023 to 2031.
Outdoor Power Equipment (OPE) consists of small engines or motors mainly utilized for external service. Commercial and residential users utilize OPE for different tasks such as landscaping and maintaining gardens, lawns, and golf courses. The equipment is powered by an electric unit, gasoline engine, or batteries and is effective and strong, which is utilized more frequently.
Market Driving Factors
Increasing demand for landscaping services and surging interest of homeowners in gardening activities is estimated to drive market growth. This is primarily due to the increasing demand by homeowners for landscaping services to make their houses aesthetically pleasing, as well as by commercial users to increase the appeal of their properties. In the landscaping industry, a broad range of outdoor power equipment, such as hedge trimmers, lawn mowers, saws, and blowers are utilized in various landscaping activities that include hardscaping, lawn renovation, lawn maintenance, tree care, organic or natural lawn care, and snow removal.
Emergence and adoption of advanced and smart technologies to create possibilities in the market. Presenting a new product with emerging technology has always functioned as a substantial market driver and industry growth to capture more clients and fulfill the growing requirements. Therefore, key players concentrate on innovation and the development of new products with advanced technologies to meet the various requirements and priorities of the end-users to maintain their competitiveness in the market share.
High maintenance prices of equipment and fluctuating raw material costs may limit the market growth.
Regional Analysis
North America dominated the market in terms of growth rate and is expected to maintain its dominance. This can be attributed to various factors such as the increased usage of gardening tools and the existence of snow during the winter season has also surged the demand for snow blowers. Furthermore, growth in urbanization and consumers willing to pay their expendable earnings on recreational activities, such as landscaping and golf services, lead to a positive impact on the sales of small engines in residential and commercial applications in the region.
Asia Pacific is estimated to dominate the market in terms of the highest shares. This is majorly owing to the increasing disposable income and altering lifestyles in several developing nations such as China and India. Furthermore, surging annual events such as the World Baseball Classic, Indian Premier League (IPL), Asian Games, and other sports activities are anticipated to raise the need for outdoor power equipment to improve sports stadiums and fields.
Segmentation Insights
Type Insight
The lawn mower segment is estimated to dominate the market in terms of revenue. This is mainly due to the various companies concentrating on introducing different robotic mowers owing to the increasing demand for technologically cutting-edge mowers. Furthermore, the latest automated lawn mowers are equipped with Global Positioning System (GPS) tracking and remote controls, making it more comfortable for the user to monitor, operate, and track the mower. Additionally, altering consumer behaviour in its spending power and aesthetic appeal for its gardening space is also predicted to propel the market expansion.
Application Insight
The residential segment is predicted to dominate the market in terms of the largest shares. This is primarily due to the surging inclination of residential users towards spending more time in gardening and outdoor. Furthermore, the increasing sales of Do it yourself (DIY) outdoor power equipment owing to the pandemic are likely to propel the segment growth.
Prominent Companies
Segmentation Outline
The global outdoor power equipment market segmentation focuses on the Type, Power Source, Application, Functionality, and Region.
By Type
By Power Source
By Application
By Functionality
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL OUTDOOR POWER EQUIPMENT MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: OUTDOOR POWER EQUIPMENT MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL OUTDOOR POWER EQUIPMENT MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL OUTDOOR POWER EQUIPMENT MARKET, BY TYPE
5.1 OVERVIEW
5.2 LAWN MOWERS
5.3 SAWS
5.4 TRIMMERS AND EDGERS
5.5 BLOWERS
5.6 SNOW THROWERS
5.7 TILLERS AND CULTIVATORS
5.8 OTHERS
6 GLOBAL OUTDOOR POWER EQUIPMENT MARKET, BY POWER SOURCE
6.1 OVERVIEW
6.2 FUEL POWERED
6.3 ELECTRIC POWERED
7 GLOBAL OUTDOOR POWER EQUIPMENT MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 RESIDENTIAL
7.3 COMMERCIAL
8 GLOBAL OUTDOOR POWER EQUIPMENT MARKET, BY FUNCTIONALITY
8.1 OVERVIEW
8.2 CONNECTED/SMART
8.3 CONVENTIONAL
9 GLOBAL OUTDOOR POWER EQUIPMENT MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL OUTDOOR POWER EQUIPMENT MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 TORO COMPANY
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 EARTHWISE
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 CUB CADET
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 MTD
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 OREGON
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 BRIGGS & STRATTON CORPORATION
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 WORX
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 MCLANE
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 CRAFTSMAN
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 HUSQVARNA
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 BOSCH LTD
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 TROY BLIT LLC
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 TTI
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 HONDA
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 SNOW JOE
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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