Outdoor Power Equipment Market to Surpass a Valuation of USD 63.3 Billion by 2032 - Latest Fact.MR Report

NEW YORK, Feb. 11, 2022 /PRNewswire/ -- The global outdoor power equipment market size is estimated to grow at a CAGR of 3.9% during the forecast period 2022 to 2032 at a market valuation of USD 44.8 Billion in 2022 and is forecast to surpass USD 63.3 Billion by 2032.

The globe is progressing toward more environmentally friendly technologies as people are shifting to greener energy sources to minimize carbon emissions and improve environmental safety to make pollution-free.

The market for outdoor power equipment is mature, and its growth is mostly influenced by variables such as population and age distribution, consumer spending, housing and other constructions, location, and recreational and leisure activities around the globe that increase the sales by consumers.

However, robotics and battery technology are set to play a significant role for the growth in future of the industry.

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The construction industry has shown signs of progress in recent years. The number of people living in a house has a direct impact on the sales of outdoor power equipment.

According to Oxford Economics, the construction developing industry would more than double in size over the next decade, growing at an exponential rate to reach USD 7 trillion in the short term, accounting for 17.2 percent of GDP.

Technology, price trends, environmental and regulatory challenges, and trade activities all play a significant part, although more so for producers than for consumers. However marketing strategies and methods of distribution have an impact.

Key Takeaways:

• North American outdoor power equipment market is accounted for more than two-fifths of the market share of the global outdoor power equipment market in 2021.
• In the United States, there are over 50 firms acquiring more than one-third of market shares in the region.
• East Asian outdoor power equipment market to gain significant traction in the global market.
• By fuel type, demand for robotic lawnmowers is likely to increase and is anticipated to grow with a CAGR of nearly 3.4% during the forecast period 2022 & 2032.
• Advancements in battery technology has resulted in increase in demand for electric outdoor power equipment.

Growth Drivers:

• The growing use of battery-powered outdoor power equipment for lawn maintenance and gardening activities is driving the market.
• Sales of outdoor power equipment are expected to increase due to increased demand for landscaping services and increased interest among homeowners in gardening activities.

Key Restraint:

• The market's expansion is anticipated to be hampered by high maintenance costs and the availability of outdoor power equipment for leasing.

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Competitive Landscape:

The competitive landscape of the outdoor power equipment market focuses to increase its product line and geographic reach.

• On 8th June 2021, Honda 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 equipment for both indoor and outdoor use.
• On 14th December 2021, Deere & Company have entered into an agreement to acquire majority of the shares of Kreisel Electric, Inc., a battery technology developer based in Austria.

Key Companies Profiled by Fact.MR

• Husqvarna AB
• Makita Corp
• Honda Motors Co. Ltd
• Briggs & Stratton Corp.
• MTD Holdings Inc.
• Stanley Black and Decker Inc.
• Andreas Stihl AG & Company KG
• CHERVON (China) Trading Co., Ltd

More valuable insights on the Outdoor Power Equipment Market: 

Fact.MR, in its report, offers a market analysis of the global outdoor power device market the forecast period through 2022 and beyond. This survey reveals the growth of the industry in the outdoor power device market with detailed segmentation as follows

· By Equipment:-

• Outdoor Power Equipment for Lawn Care
• Outdoor Power Equipment for Trimmer
• Outdoor Power Equipment for Tree Care
• Outdoor Power Equipment for Leaf blower
• Outdoor Power Equipment for Snow Blower
• Outdoor Power Equipment for Maintenance
• Outdoor Power Equipment 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 Outdoor Power Equipment
• Electric Outdoor Power Equipment
• Battery Outdoor Power Equipment

· By Price Range ($) :-

• 0-100 dollar Outdoor Power Equipment
• 100-400 dollar Outdoor Power Equipment
• 400 & Above

· By Sales Channel:-

• Outdoor Power Equipment sales through Retail
• Outdoor Power Equipment sales through Distributor
• Outdoor Power Equipment sales through Online

· By End-Use:-

• Outdoor Power Equipment for Residential use
• Outdoor Power Equipment for Commercial use
• Outdoor Power Equipment for Public Places

· By Region :-

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

Key Questions covered in the Outdoor Power Equipment Report

What will the growth rate of global outdoor power device market in forecasted years?

How much absolute dollar opportunity will be provided by the market?

What will be the global outdoor power equipment market valuation by 2032?

Which equipment type holds significant market shares?

Which region is leading the outdoor power equipment market?

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