Outdoor Power Equipment Market - Global Outlook & Forecast 2023-2028

The global outdoor power equipment market is expected to grow at a CAGR of 5.36% during 2022 to 2028

MARKET TRENDS & OPPORTUNITIES

Increasing In Commercial Construction

The construction of various hotels is expected to support the outdoor power equipment market growth. In Q1 2021, in Europe, more than 40 hotels were opened. In Germany, Markisches Zentrum Redevelopment is a construction project for building new office space, which is expected to be completed by 2023. The projects involve shopping centers, retail spaces, offices, health centers, residential towers, and hotels.

Emerging Adoption of Sustainable Equipment

In recent years, the landscaping service industry is increasingly adopting green lawn care technology, which is environmentally friendly and has a low carbon footprint. According to a report by the California Air Resource Board (CARB) 2020, small off-road engines, such as lawnmowers, chainsaws, leaf blowers, and trimmers, contribute to higher emissions than 14.4 million passenger cars in the state. U.S. governments are increasingly emphasizing reducing greenhouse gas (GHG) emissions. As a result, the usage of lawn and garden equipment that causes environmental pollution is expected to go down, encouraging the adoption of electric equipment in the outdoor power equipment market.

A Surge in Landscaping Services & Garden Maintenance

The popularity of gardening and landscaping services has also increased in the U.S. to provide an aesthetic appeal to commercial and residential lawns, and gardens create a surge in market demand. Customers increasingly outsource landscaping services to maintain corporate, institutional, and residential areas. They are expanding their planting areas, replacing lawns, and designing and building new landscape areas. Also, the demand for yard and lawn care services is increasing from the non-commercial end-user segment due to the high disposable incomes. Hence, the increasing landscaping services are expected to boost the commercial outdoor power equipment market during the forecast period.

SEGMENTATION INSIGHTS

INSIGHTS BY EQUIPMENT TYPE

Outdoor power equipment involves several garden and yard maintenance tools with various uses in several sectors, including residential, commercial, sports arenas, and landscapers. The lawnmowers accounted for the largest share of the global outdoor power equipment market in 2022, majorly driven by North America and Europe. Due to their high affordability, portability, and ease of use, outdoor power equipment is increasingly being adopted in domestic garden care activities. Moreover, major players in the global outdoor power equipment market are offering products with the latest technologies that allow for maintaining large spaces in a shorter duration, less fuel usage, and monitoring the fleet to identify and eliminate inefficiency. Such technological advancements are driving the global demand for outdoor power equipment.

Segmentation by Equipment Type

• Lawn Mowers
• Chainsaws
• Snow Blowers
• Tillers
• Trimmers
• Leaf Blowers
• Others

INSIGHTS BY POWER SOURCE

The global outdoor power equipment market by power source can be segregated into internal combustion engine (ICE), cordless and corded. In 2022, the ICE type dominated the global industry with a share of more than 71%. The highest share of ICE outdoor power equipment is attributed to their high power compared to battery-based outdoor power equipment. Moreover, these types of equipment are suitable for larger work, such as when there will be long, thick grasses or bushes. Further, gasoline lawnmowers or hedge trimmers are suitable for these tasks to finish the job in a shorter period. However, due to sustainable practices, cordless power equipment is gaining momentum among the end-users.

Segmentation by Power Source

• ICE
• Cordless
• Corded

INSIGHTS BY END-USER

The residential end-user segment dominated the global outdoor power equipment market, with a revenue share of 56% in 2022. The highest share of this segment is due to the increasing inclination of the population toward gardening activities, leading to the expansion of lawns and green acreage across single and multi-family housing units. Further, the demand for garden parties and cookouts is growing significantly, boosting the demand for backyard beautification and landscaping in the residential sector.

Segmentation by End-User

• Residential
• Commercial

INSIGHTS BY CATEGORY

The mass category segment dominates the global outdoor power equipment market and is expected to witness an incremental growth of USD 6.9 billion during the forecast period. Mass-market outdoor power equipment mainly cleans and maintains moderately sized homes or yards. Factors such as broader equipment usage in the residential sector are surging the demand for mass outdoor products as they are cheaper than premium outdoor equipment.

Segmentation by Category

• Mass
• Premium

INSIGHTS BY DISTRIBUTION CHANNEL

The offline distribution channel dominated the global outdoor power equipment market and accounted for a revenue share of approx 62% in 2022. Factors such as broader reach in areas that lack better connectivity and high consumer trust associated with personally experiencing the quality of products are driving the growth of this segment. Moreover, since outdoor power equipment involves high costs, the preference for offline channels remains high to minimize the risk of receiving damaged products. The outdoor power equipment producers harness specialty stores and supermarkets due to their personalized customer services.

Segmentation by Distribution Channel

• Offline
• Online

GEOGRAPHICAL ANALYSIS

North America dominated the global outdoor power equipment market in 2022. The market growth is attributed to the constant innovation by outdoor power equipment players and the development of upgraded products with better features and functions. Many golf courses and the regional residential sector support the market demand. The growing competition in the professional landscaping industry in the U.S. has made these services more affordable for a wider range of customers, which, in turn, is driving the market in the region. Further, the rising number of dual-income households and lack of time for clearing and maintaining garden activities have driven the market in recent years.

Segmentation by Geography

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Sweden
  • Netherlands
  • Belgium
  • Poland
  • Switzerland
  • Finland
  • Austria
• APAC
  • China
  • Australia
  • Japan
  • South Korea
  • India
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Saudi Africa

COMPETITIVE LANDSCAPE

The global outdoor power equipment market is highly concentrated, with many local and international players. The competition among these players is intense. The rapidly changing technological scenario could adversely affect vendors as customers expect continual innovations and upgrades in the outdoor power equipment domain. The manufacturers emphasize identifying the different market opportunities, setting certain goals to achieve productivity, and efficiently using capital resources. The present scenario forces vendors to alter and refine their unique value proposition to achieve a strong market presence. The manufacturers are offering and expanding the product line-up in their business segments by launching various innovative techniques, thereby gaining an edge over their competitors.

Key Company Profiles

• Husqvarna
• Deere & Company
• Honda Motor Company
• Stanley Black & Decker
• The Toro Company
• Robert Bosch

Other Prominent Vendors

• ARIENS CO
• STIGA S.p.A
• Makita
• STIHL
• Techtronic Industries
• Snow Joe
• Einhell
• Masport
• Greenworks Tools
• Emak S.p.A
• Generac Power Systems
• Briggs & Stratton
• SUMEC Group Corporation
• WEN Products
• ECHO

KEY QUESTIONS ANSWERED

• 1. How big is the outdoor power equipment market?
• 2. What is the growth rate of the global outdoor power equipment market?
• 3. Who are the key players in the global outdoor power equipment market?
• 4. Which region dominates the global outdoor power equipment market share?
• 5. What are the significant trends in the outdoor power equipment market?