Outdoor Power Equipment Market Size, Share, Growth Analysis, By Equipment Type (Lawn Mowers, Saws), By Power Source, By Functionality, By Application, By Region - Industry Forecast 2024-2031

Global Outdoor Power Equipment Market size was valued at USD 30.8 billion in 2022 and is poised to grow from USD 31.88 billion in 2023 to USD 41.98 billion by 2031, growing at a CAGR of 3.5% during the forecast period (2024-2031).

The outdoor power equipment market is witnessing significant growth, fueled by increasing urbanization and the demand for smart city infrastructure. This equipment serves both residential and commercial clients, playing a crucial role in landscape maintenance for lawns, gardens, and golf courses. Powered by electric motors, gasoline engines, or batteries, its robust efficiency drives frequent use. The COVID-19 pandemic initially disrupted many sectors but has led to a surge in outdoor power equipment sales, particularly through e-commerce platforms catering to DIY homeowners. Many individuals have taken to enhancing their outdoor spaces, leading to increased spending on maintenance and landscaping. This trend is expected to continue, highlighting a resilient market poised for further expansion.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Outdoor Power Equipment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Outdoor Power Equipment Market Segmental Analysis

Global Outdoor Power Equipment Market is segmented by Equipment Type, Power Source, Functionality, Application, and Region. Based on Equipment Type, the market is segmented into Lawn Mowers, Saws, Trimmers & Edgers, Blowers, Tillers & Cultivators, Snow Throwers, and Others. Based on Power Source, the market is segmented into Fuel-based, and Electric. Based on Functionality, the market is segmented into Conventional Products and Connected/Smart Products. Based on Application, the market is segmented into Commercial,and Residential/DIY. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Outdoor Power Equipment Market

The Global Outdoor Power Equipment market is experiencing significant growth driven by various factors. This industry encompasses devices powered by gasoline engines, electric motors, and batteries, primarily utilized for lawn care, gardening, landscaping, and golf course maintenance. The rise in remote work arrangements has intensified the demand for battery-powered equipment, alongside fluctuating fuel prices and a growing emphasis on environmental sustainability. Leading companies are focusing on developing user-friendly and eco-friendly products, aiming to provide consumers with optimal choices. The introduction of innovative battery-powered solutions is not only improving user convenience but also enhancing productivity in the workforce, further propelling market expansion.

Restraints in the Global Outdoor Power Equipment Market

The Global Outdoor Power Equipment market faces significant restraints primarily due to safety concerns associated with the use of these tools. As urbanization and infrastructure development continue to rise, both residential and commercial users increasingly depend on outdoor power equipment for maintaining their spaces. However, regulatory bodies like the US Consumer Product Safety Commission (CPSC) have raised alarms about the hazards posed by this equipment. For instance, instances of individuals being run over or backed over by lawn mowers highlight critical safety issues, leading to severe injuries and tragic fatalities, particularly involving children. These challenges consequently impede the market's growth potential.

Market Trends of the Global Outdoor Power Equipment Market

The Global Outdoor Power Equipment market is witnessing a significant trend toward innovation as manufacturers strive to meet the growing consumer demand for advanced, high-performance products. Key players are focusing on the development of new technologies that enhance efficiency, power, and usability, thereby maintaining their competitive edge. The introduction of groundbreaking products, exemplified by ECHO's 2021 launch of the PB-9010 backpack blower, signifies a shift towards powerful, lightweight equipment tailored for both professional and end-consumer use. As customers increasingly prioritize high-tech solutions that cater to diverse needs, the market is set to expand further, driven by enhanced product offerings and technological advancements.