PUBLISHER: Acute Market Reports | PRODUCT CODE: 1501171
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1501171
The outdoor power equipment market is expected to grow at a CAGR of 6.3% during the forecast period of 2024 to 2032, driven by technological advancements, increasing demand for landscaping services, and growing emphasis on sustainability. While gasoline-powered equipment led in revenue in 2023, battery-powered equipment is expected to witness the highest growth rate. Similarly, while residential users dominated sales in 2023, the commercial/government segment is projected to experience the highest growth rate. Lawnmowers led in revenue in 2023, but snow throwers are expected to witness significant growth in the forecast period. Geographically, Asia Pacific is poised for substantial growth, while North America and Europe will continue to be key revenue-generating regions. Top players such as Husqvarna, Deere & Company, STIHL, and Toro are implementing robust strategies to maintain their competitive positions and capitalize on market opportunities.
Key Market Drivers
Technological Advancements: Advancements in outdoor power equipment technology have significantly contributed to market growth. Companies have been investing in research and development to introduce innovative products with enhanced features and performance. For instance, Husqvarna, a leading player in the market, launched advanced chainsaws and trimmers equipped with ergonomic designs and eco-friendly engines, catering to the evolving needs of consumers. Similarly, Deere & Company introduced precision lawn mowers with GPS technology, enabling efficient lawn maintenance and precise mowing patterns, thereby improving productivity for commercial users.
Increasing Demand for Landscaping Services: The rising demand for landscaping services, driven by urbanization and the growing preference for aesthetically pleasing outdoor spaces, has propelled the adoption of outdoor power equipment. Professional landscapers and gardening enthusiasts rely on power tools such as lawnmowers, trimmers, and blowers to maintain lawns, gardens, and green spaces. Companies like STIHL and Toro have witnessed increased sales of their products due to the expanding customer base of landscaping businesses and residential users seeking efficient outdoor maintenance solutions.
Growing Emphasis on Sustainability: The shift towards sustainable practices in lawn care and landscaping has spurred the demand for eco-friendly outdoor power equipment. Consumers are increasingly conscious of environmental impact and are seeking alternatives to traditional gasoline-powered equipment. This trend has led to the proliferation of battery-powered and electric corded outdoor power tools, offering emission-free operation and reduced noise levels. EGO Power+, a prominent brand in battery-powered outdoor equipment, experienced significant growth in sales, driven by the eco-conscious consumer segment seeking greener alternatives for lawn maintenance.
Restraint
Despite the favorable market conditions, the outdoor power equipment market faces the restraint of regulatory challenges and environmental concerns. Stringent emission regulations imposed by government authorities pose compliance challenges for manufacturers, particularly those producing gasoline-powered equipment. Companies are required to invest in emission control technologies and adhere to strict regulatory standards, increasing production costs and affecting profit margins. Additionally, environmental concerns regarding noise pollution and carbon emissions associated with outdoor power equipment have led to calls for stricter regulations and greater emphasis on sustainability initiatives within the industry.
Market Segmentation Analysis Market by Power Source
Segmentation by power source includes gasoline, battery, and electric corded equipment. In 2023, gasoline-powered equipment accounted for the highest revenue, driven by its widespread use in commercial applications and high power output. However, battery-powered equipment is expected to witness the highest CAGR during the forecast period of 2024 to 2032, fueled by advancements in battery technology, increased efficiency, and environmental benefits.
Market by Type
Segmentation by type includes lawnmowers, chainsaws, trimmers & edgers, blowers, tillers & cultivators, snow throwers, and others. In 2023, lawnmowers generated the highest revenue, attributed to their widespread usage for grass cutting and lawn maintenance. However, snow throwers are projected to achieve the highest CAGR during the forecast period, driven by increasing demand for snow removal equipment in regions experiencing harsh winters.
Market by End-Use
The market is divided into residential and commercial/government segments. Residential users constituted the majority of sales in 2023, as homeowners increasingly invest in outdoor power equipment for lawn maintenance and gardening purposes. However, the commercial/government segment is expected to experience the highest CAGR from 2024 to 2032, driven by the growing demand for professional landscaping services and government initiatives promoting green spaces and urban beautification projects.
APAC to remain as the Fastest Growing Geographic Region During the Forecast Period
Geographically, the outdoor power equipment market exhibits varying trends across different regions. North America and Europe have traditionally been key markets due to higher disposable incomes and established landscaping industries. However, Asia Pacific is poised to witness the highest CAGR during the forecast period, driven by rapid urbanization, infrastructure development, and increasing adoption of mechanized gardening and landscaping practices. Additionally, regions with temperate climates such as North America and Europe are expected to continue generating significant revenue due to seasonal demand for outdoor power equipment.
Market Competition to Intensify during the Forecast Period
In the outdoor power equipment market, top players such as Husqvarna, Deere & Company, STIHL, Toro, Stanley Black & Decker, Inc., Abdreas Stihl AG & Co. KG, Techtronic Industries Co. Ltd., Honda Motor Co., Ltd., Yamabiko Corporation, Makita Corporation, and Robert Bosch GmbH are implementing key strategies to maintain their competitive edge and expand their market presence. These strategies include product innovation, strategic partnerships, and expansion into emerging markets. Husqvarna, known for its wide range of outdoor power equipment, reported substantial revenues in 2023 and is expected to continue its growth trajectory by introducing technologically advanced products and expanding its distribution network. Similarly, Deere &Company, a leading manufacturer of agricultural and construction equipment, is focusing on diversifying its product portfolio and leveraging digital technologies to enhance customer experience and operational efficiency. Additionally, STIHL and Toro are investing in research and development to introduce eco-friendly products and capture a larger share of the growing market. Overall, these companies are well-positioned to capitalize on the increasing demand for outdoor power equipment and maintain their leadership positions in the market.
Historical & Forecast Period
This study report represents an analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends & technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. The key data points that enable the estimation of Outdoor Power Equipment market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users & consumption volume, price, and value.
Geographical revenues generated by countries considered in the report
Micro and macro environment factors that are currently influencing the Outdoor Power Equipment market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top-down and bottom-up approach for validation of market estimation assures logical, methodical, and mathematical consistency of the quantitative data.
Market Segmentation
Power
Type
End-Use
Region Segment (2022-2032; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Outdoor Power Equipment market?
What are the key investment pockets concerning product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2032.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Outdoor Power Equipment market?
Which is the largest regional market for Outdoor Power Equipment market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Outdoor Power Equipment market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Outdoor Power Equipment market worldwide?
TABLE 4 Global Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 5 Global Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 6 Global Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 10 North America Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 11 North America Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 12 North America Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 16 U.S. Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 17 U.S. Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 18 U.S. Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 22 Canada Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 23 Canada Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 24 Canada Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 28 Rest of North America Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 29 Rest of North America Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 30 Rest of North America Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 34 UK and European Union Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 35 UK and European Union Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 36 UK and European Union Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 40 UK Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 41 UK Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 42 UK Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 46 Germany Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 47 Germany Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 48 Germany Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 52 Spain Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 53 Spain Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 54 Spain Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 58 Italy Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 59 Italy Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 60 Italy Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 64 France Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 65 France Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 66 France Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 70 Rest of Europe Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 71 Rest of Europe Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 72 Rest of Europe Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 76 Asia Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 77 Asia Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 78 Asia Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 82 China Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 83 China Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 84 China Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 88 Japan Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 89 Japan Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 90 Japan Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 94 India Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 95 India Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 96 India Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 100 Australia Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 101 Australia Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 102 Australia Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 106 South Korea Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 107 South Korea Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 108 South Korea Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 112 Latin America Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 113 Latin America Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 114 Latin America Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 118 Brazil Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 119 Brazil Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 120 Brazil Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 124 Mexico Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 125 Mexico Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 126 Mexico Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 130 Rest of Latin America Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 131 Rest of Latin America Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 132 Rest of Latin America Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 136 Middle East and Africa Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 137 Middle East and Africa Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 138 Middle East and Africa Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 142 GCC Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 143 GCC Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 144 GCC Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 148 Africa Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 149 Africa Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 150 Africa Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
TABLE 154 Rest of Middle East and Africa Outdoor Power Equipment Market By Trimmer & Edger, 2022-2032, USD (Million)
TABLE 155 Rest of Middle East and Africa Outdoor Power Equipment Market By Blowers, 2022-2032, USD (Million)
TABLE 156 Rest of Middle East and Africa Outdoor Power Equipment Market By End-Use, 2022-2032, USD (Million)
FIG. 10Market Positioning of Key Outdoor Power Equipment Market Players, 2023
FIG. 11Global Outdoor Power Equipment Market - Tier Analysis - Percentage of Revenues by Tier Level, 2023 Versus 2032