Outdoor Power Equipment Market Outlook and Forecast Report, 2030
The global outdoor power equipment market size was valued at USD 46.53 billion in 2021 and is expected to reach USD 76.61 billion by 2030, registering a CAGR of 5.9% during the forecast period, according to a new report by Grand View Research, Inc. The market growth can be credited to the increasing adoption of outdoor power equipment, using lithium-ion batteries and cordless outdoor power equipment.
For instance, in September 2021, DeWalt, one of the brands of Stanley Black & Decker, announced the launch of a 20V MAX lithium-Ion batteries system to support a variety of outdoor power equipment. Furthermore, government and public places need to be maintained and have an aesthetic appeal, additionally stimulating demand for the lawn mowers. Besides, the growing perception that gardening is a leisure activity is a critical factor in the outdoor power equipment demand.
The rising technological advancements in outdoor power equipment are increasing the inclination of people toward gardening, which is expected to impact growth. For instance, in February 2022, Makita Corporation launched two new Lawn Mowers, XML10CT1 (21" Lawn Mower Kit) and XML11CT1 (21" Self-Propelled Lawn Mower Kit). These two product features 36V (18V X2) LXT power batteries, which signify their capabilities in the cordless lawn and garden market. Furthermore, the rise in residential construction and rising demand for lawn and electric cordless lawn & garden tools in commercial spaces, parks, and sports fields are the factors expected to drive market growth.
Gather more insights about the market drivers, restrains and growth of the Outdoor Power Equipment Market
Detailed Segmentation:
Power Source Insights
The power source segment has been segregated into gasoline, battery, and electric corded. The gasoline segment accounted for 56.8% market share in 2021and is expected to witness a drop in demand because of gas fumes and noise produced. Various government regulations have been enacted to address gasoline-powered sources' environmental issues. For instance, California is expected to implement laws banning gas-powered chainsaws, lawnmowers, and leaf blowers will be in effect as early as 2024.
End-use Insights
The end-use segment has been segregated into the commercial and residential sectors. The residential segment accounted for more than 49.37%market share in 2021. The growing inclination of residential users towards investing more time in gardening and outdoor is expected to drive demand for outdoor power equipment. Furthermore, the rising sales of DIY outdoor power equipment due to the pandemic are likely to drive the segment growth.
Equipment Insights
The equipment segment has been segregated into a lawn mower, chainsaw, trimmer & edger, blowers, tiller & cultivators, snow throwers, and others. The chainsaw segment is estimated to grow at a CAGR of 7.2% during the forecast period. A chainsaw is a handheld, portable mechanical device mainly used to cut wood and wood-related products. The increasing deforestation rate for various infrastructure activities is expected to drive market growth. Furthermore, the rising demand for interior décors such as wood-based flooring, roofing, panels, and more are augmenting the use of chainsaws in various furniture applications.
Regional Insights
The North American market accounted for 34.91% share of the overall market in 2021. The regional market’s growth is attributed to North America’s larger geographical area compared to its population, which leads to more gardens and lawns in the region. This led to increased demand for outdoor power equipment in the region. Furthermore, rising investment by the government in infrastructure is expected to drive the region’s growth. For instance, in 2022, the Canadian government provided USD 1.5 billion for the Canada Mortgage and Housing Corporation to expand the rapid housing initiative of building houses.
Browse through Grand View Research's HVAC & Construction Industry Research Reports.
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Key Companies & Market Share Insights
The market is fragmented and characterized by high competition with companies such as Makita Corp, Techtronic Industries Ltd, Robert Bosch, Ariens Company, and more. These companies focus on acquisitions, launching innovative products, and investing in research and development. For instance, in January 2020, The Toro Company announced the acquisition of Venture Products, Inc., an articulating turf, snow, and ice management equipment. The acquisition was carried out to expand its business in the professional market.
Several companies focus on providing cost-effective and ergonomic products as an integral part of their product offerings. Similarly, In January 2022, Robert Bosch GmbH launched Keo a cordless garden saw. Keo is one of the products of 18V Power for All System, the alliance formed with Husqvarna Group. The product is acquainted with a powerful interchangeable battery pack with replaceable saw blades designed for DIY applications.
Some of the prominent players in the global outdoor power equipment market include:
• Husqvarna AB
• Makita Corp
• Honda Motors Co. Ltd
• Briggs & Stratton Corp.
• Andreas Stihl AG & Company KG
• MTD Holdings Inc.
• Stanley Black and Decker Inc.
• Andreas Stihl AG & Company KG
• CHERVON (China) Trading Co., Ltd
• Techtronic Industries Ltd.
• Yamabiko Corporation
• Robert Bosch
• AL-KO Kober Group
• Ariens Company
• The Toro Company
• Deere & Company
Outdoor Power Equipment Market Segmentation
Grand View Research has segmented the global outdoor power equipment market based on the power source, end-use, equipment, and region:
Outdoor Power Equipment Power Source Outlook (Revenue, USD Million, 2018 - 2030)
• Gasoline
• Battery
• Electric Corded
Outdoor Power Equipment End-Use Outlook (Revenue, USD Million, 2018 - 2030)
• Residential
• Commercial/Government
Outdoor Power Equipment Type Outlook (Revenue, USD Million; Volume, Thousand Units, 2018 - 2030)
• Lawn Mower
o Walk-Behind Lawn Mowers
o Ride-on Lawn Mowers
o Robotic Lawn Mowers
o Zero -Turn Mowers
• Chainsaw
• Trimmer & Edger
o Trimmers & Brush Cutter
o Hedge Trimmers
o Walk-Behind Edgers & Trimmers
• Blowers
o Snow
o Leaf
• Tillers & Cultivators
• Snow Throwers
• Others
Outdoor Power Equipment Regional Outlook (Revenue, USD Million; Volume, Thousand Units, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Netherland
o Denmark
o Finland
o Spain
o Russia
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Singapore
o Australia
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
• Middle East & Africa
o UAE
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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