Outdoor Power Equipment Market Set to Reach US$ 63.3 Billion with 3.9% CAGR by 2032

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The global outdoor power equipment market is estimated at USD 44.8 Billion in 2022 and is forecast to surpass USD 63.3 Billion by 2032, growing at a CAGR of 3.9% from 2022 to 2032.

The outdoor power equipment market encompasses a wide range of machines and tools designed to assist in outdoor tasks and activities. From lawn mowers to leaf blowers, chainsaws to snow blowers, this market caters to the needs of homeowners, landscapers, construction professionals, and more. As outdoor spaces continue to play an integral role in people’s lives, the demand for efficient, eco-friendly, and versatile outdoor power equipment is on the rise.

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Growth Drivers of the Outdoor Power Equipment Market:

Several factors are driving the growth of the outdoor power equipment market:

  1. Urbanization and Landscaping: Rapid urbanization has led to increased demand for lawn care and landscaping services, driving the sales of lawn mowers, trimmers, and leaf blowers.
  2. Homeownership Rates: A higher rate of homeownership, particularly in suburban areas, has resulted in increased demand for lawn and garden equipment.
  3. Environmental Concerns: Growing environmental consciousness has led to the development of eco-friendly and battery-powered outdoor equipment that reduces emissions and noise pollution.
  4. DIY Landscaping: The do-it-yourself (DIY) trend in landscaping and outdoor home improvement projects has boosted sales of power equipment among homeowners.
  5. Extreme Weather Events: Climate change and extreme weather events have increased the need for snow removal equipment and generators, especially in regions prone to hurricanes, storms, and heavy snowfall.

Competitive landscape:

Market players are investing in R&D to increase their product line and geographic reach. Key players are keen to collaborate with new entrants to gain a competitive edge.

The seven to ten companies have about one-fourth of the total market share and are projected to expand operations in fast-evolving regions such as India, China etc. to lower the production costs and other costs.

Fact.MR has provided detailed information about price points of top manufacturers of outdoor power equipment market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • On 8th June 2021Honda Motors Co. Ltd. has launched Honda eGX, an electrified power unit. The Honda eGX is the world’s first battery-powered motor, engineered to be integrated into OEM power equipments for both indoor and outdoor use.
  • On 14th December 2021Deere & Company have entered into an agreement to acquire majority of the shares of Kreisel Electric, Inc., a battery technology developer based in Austria.

Global Outdoor Power Equipment Market Report Scope

·         By Equipment :-

  • for Lawn Care
  • for Trimmer
  • for Tree Care
  • for Leaf blower
  • for  Snow Blower
  • for Maintenance
  • for HLE (Heavy Landscaping Equipment)

·         By Capability :-

  • Self-Propelled Mower
  • Riding Lawn Mower
  • Automatic Lawn Mower
  • Push Lawn Mower
  • Others

·         By Fuel Type :-

  • Diesel based
  • Electric
  • Battery

·         By Price Range ($) :-

  • 0-100 dollar
  • 100-400 dollar
  • 400 & Above

·         By Sales Channel :-

  • sales through Retail
  • sales through Distributor
  • sales through Online

·         By End-Use :-

  • for Residential use
  • for Commercial use
  • for Public Places

·         By Region :-

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa (MEA)

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How will be insights and market estimations provided in the Fact.MR report on the Demand of Outdoor Power Equipment make a difference?

  • The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
  • The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
  • The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
  • Provides scrutiny of the industry trends that have shaped recent government policies
  • Provides an account of major breakthroughs in all segments that might change the course of the market considerably
  • Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Outdoor Power Equipment  Market
  • Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
  • Evaluates the role of various stages of funding on new growth avenues in key regional markets

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