The global outdoor power equipment market size was US$ 24.4 billion in 2021. The global outdoor power equipment market size is estimated to reach US$ 39.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2022 to 2030.
Outdoor power equipment utilizes small motors or compact engines for working. If the tool is used particularly for outdoor assistance, then it is known as outdoor power equipment. It commonly contains edgers, brush cutters, power rakes, chain saws, and more. It has primary applications in both, the commercial and residential industries. It is generally used by end users like plant, lawn, and landscape service providers, for commercial use.
Factors Influencing Market Growth
? The increasing need for quality outdoor power equipment is anticipated to drive the expansion of the overall market.
? The increase in the construction sector can be responsible for the expansion of the global market growth.
? The massive construction activities in these emerging countries aiming to create smart cities that can entice tourists are likely to enhance the need for outdoor power equipment thus driving the global market growth.
Study of the COVID-19 Pandemic
COVID-19 had a severe influence on the expansion of the global market growth. However, there has been a constant regeneration of the value chain, guiding continuous market development. Significant growth in the need for supervision of private and public spaces from residential/DIY and commercial application components is propelling the global market growth.
North America had the highest market share during the analysis period. The existence of snow during the winter season has also made the need for the snow blower, thus, directing to an upsurge in the need for outdoor power equipment. The increase in customers and urbanization ready to pay their expendable incomes on recreational activities, like landscaping and golf services, results in a positive influence on the sales of small engines in residential and commercial applications.
The prominent players in the global outdoor power equipment market are:
? Briggs & Stratton Corporation
? Toro Company
? Cub Cadet
? Snow Joe
The global outdoor power equipment market segmentation focuses on Type, Power Source, Application, Functionality, and Region.
Segmentation on the basis of Type
? Lawn Mowers
? Trimmers and Edgers
? Snow Throwers
? Tillers and Cultivators
Segmentation on the basis of Power Source
? Fuel Powered
? Electric Powered
Segmentation on the basis of Application
Segmentation on the basis of Functionality
Segmentation on the basis of Region
? North America
? The U.S.
? Western Europe
? The UK
? Rest of Western Europe
? Eastern Europe
? Rest of Eastern Europe
? Asia Pacific
? Australia & New Zealand
? Rest of Asia Pacific
? Middle East & Africa (MEA)
? Saudi Arabia
? South Africa
? Rest of MEA
? South America
? Rest of South America