USD 26.5 billion
Report ID: SQSG20E2003 | Region: Global | Published Date: November, 2022 | Pages: 165
Global outdoor power equipment market was valued at USD 26.5 billion in 2021, and it is expected to attain a value of USD 40.91 billion by 2028 with a CAGR of 6.4% over the forecast period (2022-2028).
Outdoor power equipment is used by both residential and commercial customers for a variety of jobs, including as landscape care of lawns, gardens, and golf courses. The equipment is robust and efficient, which is why it is used more frequently. It is powered by an electric motor, a gasoline engine, or batteries. Growing urbanization has increased the requirement for smart infrastructure and cities, which has increased the need for this machinery for construction projects. Additionally, household customers utilize this equipment to maintain their real estate and engage in gardening tasks, which is what is driving the growth of the outdoor power equipment market.
Due to travel limitations and lockdown regulations, COVID-19 global influence has rocked the world and impacted numerous industry verticals. Despite the current pandemic, the outdoor power equipment market trends have shown a rise in demand, and this trend is expected to continue in 2021. Outdoor equipment sales have been bolstered by factors such as sales through E-commerce websites targeted at household or do-it-yourself (DIY) users. Additionally, a number of homeowners strengthened their ties with live landscaping and spent money maintaining their outdoor areas, which contributed to the market's healthy demand.
Global Market Size
USD 26.5 billion
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The global outdoor power equipment market is segmented based on type, power source, sales channel, application, and region. Based on type, the market is segmented into lawn mowers, trimmer, blower, chainsaw, pressure washer, tillers and cultivators, and others. On the basis of power source, the market can be bifurcated into gasoline engine, battery powered, electric motor/corded. The sales channel segment is segregated in e-commerce, direct purchase. Based on application, the market is segregated into residential/DIY, commercial segments. The regional insights of the market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Analysis by Type
The market is dominated by lawn mower segment as they offer greater mobility and can cover larger areas without fast depleting their fuel. The lawn mower category of outdoor machinery also includes riding lawn mowers, robotic lawn mowers, walk-behind mowers, and lawn and garden tractors. Due to their high degree of operator flexibility and ability to mow in small places, walk-behind mowers are one type of lawnmower segment that dominates the lawnmower category. Additionally, zero-turn mowers (ZTR) with their hydraulic control drive and radius function are efficient options for landscaping gardens. The use of zero-turn mowers is expected to rise in the next few years due to the expansion of gardening activities like cutting the grass on golf courses.
In gardens and lawns, trimmers are typically used to cut edges, establish boundary lines, or split lines so that walkways can be made. The tool or machine is simple to operate and can handle a variety of jobs, including tackling unchecked plant growth and cutting through heavy undergrowth or difficult grass with ease. Blowers are tools used in gardening to move waste materials like leaves and grass clippings. The two sorts of blowers that the major manufacturers in the market offer are snow blowers and leaf blowers.
Analysis by Sales Channel
Due to numerous stores in important regions like North America, Europe, and Asia Pacific, the direct purchase sales channel will maintain its dominant market share. However, COVID-19's effects have increased equipment sales through online channels. Additionally, as other sales divisions like Lowes and Home Depot invest in improving their outdoor power equipment offerings, the e-commerce sales channel will see a faster growth rate. For landscaping projects and the development of smart cities, commercial users in the construction sector or municipalities employ this technology.
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As of 2021, the North America outdoor power equipment market was valued at USD 12.98 billion, making it the largest region. Gasoline-powered machinery rules the market in North America. The use of electric-powered equipment is growing, though, as a result of stringent governmental regulations and a growing emphasis on low emission technologies. For instance, in November 2021, California's governor signed AB 1346, which gradually bans the sale of tiny off-road engines that run on gas. These engines are typically found in equipment meant to lessen the noise and pollution that fossil fuel-powered machinery produces. Additionally, market expansion in the region is fueled by key companies' investments in the industry to keep up with client demand and technological advancement.
On the other hand, Europe will see a gradual expansion of the market as various government organizations attempt to accelerate the implementation of new technology in machinery. For instance, the EGMF and EU legal framework have been working on new legalizations and regulations for mechanical equipment, which includes outdoor and garden equipment, from June 2021.
The increased investment in smart infrastructure, which fuels demand for the market in industrial applications like construction and landscaping, is expected to drive considerable development in the Asia Pacific region over the projected period.
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The competitive landscape is shaped by a variety of major competitors on the global market who supply scale goods for diverse applications. To stay competitive in the outdoor power equipment market share, the key players place a strong emphasis on innovation and the creation of new products using cutting-edge technologies to satisfy the varied needs and preferences of end customers. For instance, one of the top producers of battery-operated equipment, EGO, has made Lowe's Companies, Inc aware of its cooperation in order to make EGO items available online at Lowes.com and in all US shops.
Top Players in the Global Outdoor Power Equipment Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global outdoor power equipment market is segmented based on type, power source, sales channel, application, and region. According to type, the market is dominated by lawn mower segment as they offer greater mobility and can cover larger areas without fast depleting their fuel. Due to numerous stores in important areas like North America, Europe, and the Asia Pacific, the direct purchase sales channel will maintain its dominant market share. The North America outdoor power equipment market accounted for US$ 12.98 billion, making it the largest region. Gasoline-powered machinery rules the market in North America.
|Market size value in 2021||USD 26.5 billion|
|Market size value in 2028||USD 40.91 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Outdoor Power Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Outdoor Power Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Outdoor Power Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Outdoor Power Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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